In this Digital Era, people in the UK are involved in Work from home jobs, thrive to start-up small online businesses with minimum investment, and also enjoy online shopping from their comfort zone.
All these are possible with the safe and secure online transactions which are provided by a wide range of payment gateway providers in UK. Among many payment service providers, PayPal plays a vital role since started in the year of 1998.
It has achieved greater heights within a short span of time, nearly 244 million active accounts worldwide, and also the platform facilitates 17 million business transactions with a fairly transparent fee structure and “multi-service platform”. Regardless of its growth, PayPal is far away from taking control of the industries.
But at certain situations, people go in search of PayPal alternatives for various reasons like, though your business is in the UK, your merchants(consumers) may reside in other countries who prefer other alternatives than PayPal to receive payments (actual Exchange rate), due to some RBI disputes in their country.
Few other reasons to go in search for best Alternatives of PayPal are,
- Huge Volume of International Transfers
- Digital products selling protection
- Fewer fees for Chargeback
- Faster turnaround for Withdrawn PayPal Funds (since it takes about 4 business days in PayPal)
- Increase the hand-on customer rate
- PayPal Freeze accounts for 6 months without prior intimation
Based on these, here listed out are the leading and obsolete PayPal alternatives that compete with all the features of PayPal and are Bitcoin-friendly and suits for the global economy. Also would be the best choice for your business and customers as the best dropshipping suppliers in UK are now providing multiple payment gateway options with the alternatives to paypal. The following are the good alternatives for PayPal in the UK for online payment.
10 Best Alternatives to PayPal in the UK
1. Transferwise
If you are looking for lots of international transfers and the best alternative for PayPal in UK, then here Transferwise, the smart and Cheapest way to send money internationally. Best suited for individuals and service-based businesses with a huge volume of international transactions. It provides a great solution for the “real” exchange rate without any hidden fees. If you send 1000 GBP, then the recipient gets 1,103.78 EUR. The base point where Transferwise proclaims PayPal is it provides low transaction fees and currency conversion charges.
Benefits:
- No waiting, no stress, and no extra costs
- A borderless account with a debit card
- More than 40 currencies
- Run payroll and batch payments
- Invoice your customers with their own currency
Pricing:
- 0.26 GBP fixed fee
- 3.69 GBP (0.37) variable fee
2. Dwolla
Dwolla is one of the best alternatives to PayPal with a simple idea of moving money should be easy, fast, and affordable. It facilitates the movement of millions of dollars every day with low transaction costs. Their ultimate goal is to make users feel an incredibly complex process into a simpler and easier for a transaction with the White label API. It also automates your payments and allows you to send almost 5,000 payments with a single API.
Benefits
- Easy to integrate and affordable pricing
- Easy automation and perfect reliability
- 95 uptime &startup friendly
- Hands-on customer success team
- Sophisticated security
Pricing
- basic plan – Pay-as-you-go $0/month
- Scale plan – $2k/month
- Enterprise plan -$10k/month
3. Fondy
Fondy helps you grow your business locally and internationally, allowing you to collect payments, split payments and make payouts through a single API. Fondy processes payments in 150 currencies across more than 200 countries. With over 300 payment methods and geolocation, you can automatically display local options like debit and credit cards, internet banking and eWallets.
Pros:
- No hidden or additional fees
- Cross-border payments
- Payouts solution
- Custom checkout and payment link
- Integrations with popular CMS and web-builders
Pricing for businesses of all sizes:
- UK based: debit & credit cards from 1.3% + £0.2 , alternative payment methods from 0.5% + £0.2 , bank transfers from 1.2% + £0.2
- EU based: debit & credit cards from 1.3% + €0.25 , alternative payment methods from 0.5% + €0.25 , bank transfers from 1.2% + €0.25
4. Skrill
Skrill is a well-known alternative for PayPal due to its currency conversion rates. It also offers prepaid MasterCard that works in millions of shops worldwide. They offer their services to millions of customers all over the world. No transfer fee would be collected when you send money to a bank account abroad. You can do all your transactions on your mobile with their app for iPhone and Android. They also facilitate users to open a free account.
Benefits
- Convenience, Confidence and Instant payment
- Exclusive offers and access your money 24/7 wherever you are
- Leading risk solutions and anti-fraud technology
Pricing
- International transfer – Free to send money to bank accounts
- Domestic transfer – up to- 2%(within the same country)
- Receive money – free
- Skrill to Skrill pricing varies.
5. Bluesnap
Bluesnap is one of the best PayPal alternatives due to its more powerful and all-in-one solution. Using Bluesnap is the better way to increase your sales revenue in business with reduced costs. It facilitates the users with more payment types. Intelligent payment which offers optimized conversions and chargeback and risk management along with the ability to process 100 global payments. Bluesnap also integrates the platform that you use already like Shopping cart, CRM, and ERP to breeze the implementation.
Benefits
- Increase Revenue for business
- Provide tools for business to scale at home and cross border
- Robust analytics
- Maximizes payment conversions
- Networks extended worldwide
Pricing
- First year-No maintenance fee
- After one year- fee waived-if Transaction volume is greater than $2,500/month
- Visa/MasterCard debit, $2% + .30 cents
- Visa/MasterCard credit, 2.70% + .30 cents
- Custom pricing will be known on request
6. Google Pay
Google is yet another alternative for PayPal in the UK, which is the best choice for a long term alternative for your online store. It is available for everyone Google Pay with their existing website, e-Commerce store, and more. It is fast and protects your payment information with multiple layers of security and make it easier for the user to send money from your comfort zone. Google Pay makes it easier to travel on the entire Transport for London network and take advantage of fare capping. No queues, no top-ups – all you need is your phone.
Benefits
- Easy to integrate
- Convenience and much faster
- Encrypted and secured by google
- Storage of loyalty cards
Pricing
- Credit card fee: 2.9%
- Debit card and bank transfer fee: zero
- Withdrawal limit: 1-3 days
7. Payoneer
If you are looking for the best alternative for online business including freelancers or professionals, then Payoneer would be the better alternative to PayPal in the UK. Payoneer helps you to make payments quickly and also offers low-cost international calls. They are specialized in diverse markets and industries which support all business, not a matter of whether your site focuses on e-commerce, online advertising, or vacation rentals. It possesses nearly 4 million users in more than 200 countries making business payment very easy and withdrawal of funds worldwide.
Benefits
- Fast, flexible and secure
- Low-cost solutions
- Integrates marketplaces and networks
- Paid globally and easily
- Provide solutions for risk management
Pricing
- Transaction fee:
- $2.99 for a local bank transfer and $15 for a USD SWIFT transfer.
- Currency conversion: $4 or 1%
8. ProPay
ProPay is the trusted Payment service provider and the best alternative for PayPal in the UK. ProPay also offers global disbursement and commission payment options. ProPay offers a Secure and economical payment solution for all organizations in a wider range from small, home-based entrepreneurships to multi-billion-dollar businesses requiring complex payment solutions. ProPay is an owned subsidiary of TSYS (NYSE: TSS) and is a leader in the payment industry.
Benefits
- Versatility and flexibility
- Easy Integration and SaaS Provider
- ProPay’s ProFac Express
- Accounting and merchant funding
- end-to-end payment security
Pricing
- low processing fees of 2.69% + $0.30 per transaction.
9. Coinbase Merchants
If you are interested in accepting business payments using cryptocurrencies like bitcoin. Ethereum etc then Coinbase Merchants would be the right alternative to PayPal. It helps you save a huge amount of money and made payments very faster. It is easy to integrate with more sites like Shopify, WooCommerce, Opencart, Gravity forms, and osCommerce.
Benefits
- No fees to accept cryptos
- Globally accepted
- Webhooks for charges
- Hosted Checkout buttons
- Worldremit
Pricing
- If the transaction amount is between $10 or less than equal to $25 then the fee is $1.49 | €1,49 | £1,49
- If the transaction amount is between $25 or less than equal to $50 then the fee is $1.99 | €1,99 | £1,99
10. Payline
Payline is a flexible and friendly payment processing solution which is the best alternative for PayPal users to develop their business and make payments much faster. Provide Omni-channel solutions options for businesses across all industries and sizes from startups to suit all your individual needs. Allows you to customize your plan.
Benefits
- Users to achieve greater potential
- Flexible and user friendly
- Offers industry-leading technology
- Primarily focus on the bottom line
- Ensures safe and secure payment
- No risk, no upfront fee, and no cancellation fees
Pricing
- Swiping in person- 0.2% – $0.10 per transaction /$10 per month
- No credit cards- 0.3% – $0.20 per transaction /$20 per month
11. Stripe
Stripe sets a new standard in online payment and acts as the best alternative for PayPal in the UK. It is the best software platform for those who run an internet business. Stripe handles billio
ns of dollars every year and steps with forward-thinking in the business growth around the world. It is an on-demand marketplace, an e-commerce store, or a crowdfunding platform.
Benefits
- Meticulously designed API
- Faster and more flexible for users
- Tools for internet commerce
- World’s most innovative technology
Pricing
- EU cards: 1.4% plus 20p
- Non EU cards: 2.9% plus 20p
- 1% plus 20p (minimum £5) or free.
To conclude, these are the top 10 best alternatives to PayPal in the UK. To be frank, it was very difficult to find the payment service providers that compete with the excellent features of PayPal. This is the compiled list of best payment service providers all over the world. Suppose I had missed out on any service provider let me know in the comments. Develop your online business and be the best competitor in all aspects.
