Source : http://beebom.com/
PayPal has become synonymous with online payments and this widely popular platform lets users make monetary transactions, completely doing away with the need for bank transfers and checks. This free payment processing service only requires the presence of a valid PayPal account on both the receiver and the sender’s end. The biggest upside to PayPal is its widely recognized platform and how easily it manages to integrate with other third-party platforms and carts.
However, PayPal is still not the perfect payment method we’ve seen so far, as it has some serious disadvantages. Well, we know nothing is perfect, but why should you tolerate this sort of issues if there are better options out there? First, we will check out some noticeable cons of PayPal that you’ll be able to justify your act of moving to a PayPal alternative.
- Fees: Despite the fact that fee may vary according to payment methods you use, one of the disadvantages of PayPal is the high fee.
- Holding Payments: More often than not, PayPal holds your payment and puts it under review with no proper reason.
- Some countries are not supported by PayPal such as Iraq, Bangladesh, Pakistan, Afghanistan etc
- Country-based restrictions on use of PayPal
In addition, there are some other disadvantages if we look into PayPal from ‘Merchant’ point of view, but as you are here, we expect you know some of them. Now, we will move on to top ten alternatives to PayPal, either as an online money transfer service or eCommerce payment method. Rather than merely mentioning names of these alternative services, we will go deep into advantages and disadvantages of each.
