Payment Services have better features than paypal?

Question

Payment Services have better features than paypal?

Mudassir Ali 11 months 1 Answer 139 views

Answer ( 1 )

  1. While other answers here have listed a few good brand choices, I’m going to take a little different approach because it seems that I see this question, or a variant of it, almost every day.

    There are so many businesses looking to:

    move away from the high costs associated with Paypal’s platform,

    looking for an alternative payment gateway provider because PayPal just isn’t available in their region, or doesn’t work for their business model (nor does Braintree, their other service platform)

    Without knowing the specifics of your business (location and currencies you wish to process, etc.), I have to limit my answer to a somewhat generic one. But I will say, the first step in finding an alternative to PayPal is to determine exactly which functions and features you want. There are some low-cost options out there, but they may not provide all the functionality or services you need such as the ability to process cross-border transactions and currency conversion.

    You have to be able to discern what specific features, services, and functions your business requires. And that’s because unfortunately, there isn’t universal payment gateway that meets all the requirements to operate within every region of the world. However, there are several solutions that offer simplified cross-border transactions, thereby making it easier for you to operate throughout more countries.

    A popular alternative is to build your own PayPal-like payment gateway by licensing white label software that offers:

    pre-established banking partnerships

    a robust system for approving and declining transactions

    a simplified PCI compliance process

    a wallet for storing consumer credit card and bank data

    extreme flexibility, allowing you to customize it to meet your business’s specific needs

    Summary:

    There are plenty of PayPal alternatives out there, but it will take some experimentation on your part to find one that best meets the needs of your specific business model. Another option is to build your own payment gateway using licensed open source software. While it may take a little longer, this solution offers you the most flexibility and while customizing your payment gateway to your exact specifications.

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