Alternative to Services Like PayPal

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PayPal is the most recognized online payment service to send and receive money for business or personal use. However, with the online payment transaction volume in the U.S. set to increase from $5.2 billion in 2015 to $17 billion by 2019, major players like Google,, Skrill and Apple have developed their own online payment platforms. Competition is steadily increasing even as PayPal has to deal with longstanding complaints regarding frequent freezing of accounts and poor customer service.

Google Wallet

Google Wallet (formerly Google Checkout) offers you a way of receiving, sending and paying money online, in some cases, with a tap. You can store your loyalty cards, credit cards, gift cards and debit cards to make purchases through a mobile phone, and on NFC-enabled smartphones, to make electronic payments.

Google Wallet is available for some Android and iPhone devices. It is free to send and receive money from a linked bank account or Google Wallet balance. However, it does incur a $500 limit every 30 days for adding money from a debit card, while debit card transactions attract a 2.9 percent fee. Google Wallet also offers users free debit cards that can be used offline.

Amazon Payments

The Amazon Payments platform offers different products targeted at businesses, developers and customers. The online purchases section of this service simplifies purchasing by applying the shipping methods you have already added in your account. WebPay from Amazon Payments allows users to send and receive money. From a merchant’s point of view, Checkout by Amazon simplifies payment methods.

Amazon Payments is free; Amazon WebPay users can send and receive money from others without paying anything. Nevertheless, they will have to pay transaction fees when withdrawing funds using debit or credit cards. From the merchant’s viewpoint, the commission is 2.9 percent plus 30 cents. Amazon also offers volume and non-profit discounts.


Formerly known as Moneybookers, you can use Skrill to send and receive money and shop online. With this platform, users send money to an email ID that belongs to another Skrill user. The recipient can withdraw funds through his or her bank account, credit card or debit card. Skrill merchant fees are comparatively low compared to PayPal’s fees.

Skrill takes about 1 percent of sent money as commission. In addition, transferring money from your bank to Skrill is free when using SWIFT Transfer. In case you use credit or debit cards, you will have to pay standard charges.

Apple Pay

The war for your wallet has been raging for a while and mobile payments are now catching up with the introduction of Apple Pay. The mobile online platform allows users to make payments with their phones instead of carrying plastic cards or cash. Through NFC terminals supported by retailers, Apple Pay users simply hold their thumbs to the phone’s Touch ID sensor to make instant payments.


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