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7 Great Alternatives To PayPal Worth Considering

In line with the ever-increasing potential output of smartphones, many users are flocking to convenient online only payment methods such as digital wallets.

The “tap and go” payment culture has established firm roots in modern technology, and it’s all thanks to the compatibility of devices along with an increase in the overall acceptance rate by vendors and users alike.


The Future of Mobile Payment

A few years ago you’d be hard-pressed to find a retailer or product distributor that would accept PayPal. Typically all electronic payments were performed using Visa, MasterCard, and occasionally American Express. Nowadays, applications like PayPal are commonplace in the market.

In fact, there’s so many of them publicly available that the challenge is no longer whether or not to use digital wallets – but which one to use.

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We’ve created this brief overview of our favourite PayPal alternatives to ease your search for the best personal option. By considering the digital payments on this list you may find one that’s right for your individual needs.


Relevant Selection Criteria

When debating between alternatives, here are a few helpful considerations to keep in mind: fee structures, degree of security/protection, ease of use, transaction speed, appearance/user interface, and overall application quality.

*Please note that these payment services are not ranked in any particular order – each one has their own unique qualities and traits




Known for its popular budget tracking application “Mint” and accounting software “QuickBooks,” the company is now promoting their add-on service QuickBooks Payments. Their value proposition in this digital payment system is in its automatic integration with the accounting aspect of QuickBooks.

With QuickBooks Payments, your bills/invoices/transactions will be inputted into your QuickBooks account instantaneously – with real time notifications and alerts.


Cost of QuickBooks Payments by Intuit

For individuals, QuickBooks Payments uses a very transparent “pay as you go” fee structure with no monthly account balance charges.

  • Bank transfers: 1% up to a $10 maximum
  • Card “swipe” transactions: 2.4% plus $0.25
  • Card “invoice” transactions: 2.9% plus $0.25
  • Card “keyed” transactions: 3.4% plus $0.25




It would be very difficult to create this list without ever mentioning Google Pay. This tech industry giant has made it very easy to send personal payments in the same currency from a Google Pay account.

Google Pay’s primary advantages over the competition are its flexibility and cost-efficiency perks. It’s also considered a highly-utilized digital wallet with millions of users around the world.


Cost of Google Pay

As long as you’re transferring to and from a Google Pay wallet (in the same currency) there are absolutely no fees – the cost to the user is completely free. This works for any vendor that recognizes Google Pay as a valid payment service, otherwise your Google Pay transaction will be recognized as a credit card transaction and billed accordingly.

Google Pay is intended for computers and Android phones, but it is also compatible with Apple products.




Made specifically for digital business web stores, 2CheckOut helps online e-commerce vendors by managing their payment processing. The company advertises itself as a globally accepted enterprise, which means that even international sales can be handled by their platform.

2CheckOut takes pride in their customizable branding options (to match your company), mobile support, and fraud detection capabilities.


Cost of 2CheckOut

The company has three different instalment plans that each come with varying features and price points. One of three models can be chosen based on your e-commerce requirements, and each fee is calculable on a per transaction basis.

  • 2Sell Model: Product sales in over 200 countries for 3.5% plus 35 cents
  • 2Subscribe Model: Subscription based service payments for 4.5% plus 45 cents
  • 2Monetize Model: Their full coverage package for 6% plus 60 cents




Authorize.Net is another popular payment gateway. This company allows users to legitimize both electronic and credit card payments over the phone and online. This massive payment gateway service transacts billions of dollars in payments annually and does so under the Visa processing system.

Their value offering can be denoted in their proprietary elite Application Programming Interface which they use to communicate with all parties involved in a transaction. Authorize.Net also features quality round-the-clock customer support for any troubleshooting needs.


Cost of Authorize.Net

While the company’s outreach (in terms of service coverage) is expanding internationally, as of today you can only implement the Authorize.Net system if your business is founded in: Canada, UK, US, Australia, or Europe.

Much like the aforementioned 2CheckOut above, Authorize.Net features three different pricing models based on individual necessity. Fees are calculable on a per transaction basis.

  • All in One Model: zero start-up or monthly charges, 2.9% plus $0.30
  • Payment Gateway Model: monthly fee of $10, $0.10 plus $0.10 per daily batch
  • Enterprise Model: packed with features, pricing varies by individual based on your pre-established requirements




Stripe’s been widely adopted by a large number of internet merchants due to its compatibility and overall app-friendly integration. Some of Stripe’s major partnerships include the likes of Shopfiy, Salesforce, Amazon, Slack, and even Google. The beauty of using Stripe for payment processing resides in its quick and easy installation coupled with state of the art API performance.


Cost of Stripe

Stripe offers its clients a very transparent pricing system with some customizability (contact them for more details).

  • Pay As You Go Model: 2.9% plus $0.30 per transaction
  • International Payment Charge: 1% of the transaction amount
  • ACH Transfer Charge: 0.8% up to a maximum of $5




Amazon has experienced massive growth in virtually every industry that it touches, and now it’s expanding into the electronic payment sector with Amazon Pay. Their proprietary payment system already has a high adoption rate with vendors, suppliers, and even not-for-profit organizations.

Their main advantage with Amazon Pay is simply the fact that your transactions are secured and backed by Amazon – a company that has built a reputation on reliability and consumer friendliness. Amazon has some of the best fraud-detection systems as well, and on top of that you could access Amazon Pay from your regular Amazon account.


Cost of Amazon Pay

Currently Amazon Pay has one primary fee structure (which is calculated on a per transaction basis) and a few conditional charges that apply on specific transaction types.

  • Regular transaction: 2.9% plus $0.30
  • International payment charge: 3.9% of the total amount
  • Disputed payment charge: flat fee of $20




While Shopify is a merchant platform that accepts third party payment processors, it also has its own in-house system called Shopify Pay. Shopify Pay allows vendors to validate credit card payments on their store and then easily embeds all of that payment data into their digital storefront.

If you’ve already established an e-commerce connection with Shopify, it may be in your best interest (convenience wise) to choose them as your payment processor.


Cost of Shopify Pay

Shopify’s native payment processor involves a fairly complex fee structure. Charges and account features all depend on which plan you ultimately decide on.

  • Basic Shopify Model: monthly fee of $29, 2.9% plus $0.30 for online card transactions, 2.7% for physical card transactions, and a 2% surcharge for non-Shopify connected payments
  • Regular Shopify Model: monthly fee of $79, 2.9% plus $0.30 for online card transactions, 2.5% for physical card transactions, and a 1% surcharge for non-Shopify connected payments
  • Advanced Shopify Model: monthly fee of $299, 2.4% plus $0.30 for online card transactions, 2.4% for physical card transactions, and a 0.5% surcharge for non-Shopify connected payments





Successfully implementing a world-class payment processing system into your online business has never been easier. In today’s world, there are so many great alternatives to PayPal that offer more competitive features and lower rates.

However, the foreign exchange fees for currency conversion on these third party platforms can quickly add up. If you rely on these payment platforms for your international money transfer needs, there’s a good chance you’ll fall victim to an unfavourable exchange rate.


Getting The Best Value On Your Money Transfers

If you’re looking to exchange over $2000 CAD into a foreign currency you can save hundreds just by using KnightsbridgeFX. KFX takes pride in charging you zero wire transfer charges or hidden fees, while also delivering a rate that’s guaranteed to beat the banks.

Also, if you’re interested in e-commerce and are interested in utilizing one of the payment processors listed above, check out our guide on starting an online business in Canada.

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By Alex | July 28, 2020 | Guides | 0 comments