PayPal is an online commerce business that intermediates payments and money transfers with the help of the Internet. This online transfer method serves as a replacement for the old paper way, such as checks and others, allowing the payments to be made faster and more comfortable, the payer only requiring access to Internet, either through a computer or through a mobile phone.
As of October 2002, PayPal was purchased by eBay for the amount of $1.5 billion. Due to its efficiency, the service is the preferred payment method for more than half of the eBay users.PayPal is currently enabling transactions between 25 currencies worldwide.
Even though PayPal used to be the best choice in online commerce, the service has developed flaws, slowly forcing people to choose other alternatives. Some of these alternatives became very popular and are briefly described below.
Merchantinc.com – This service is intended only to those people who are US residents and own compatible US credit cards. It has been operating successfully for over 10 years, so it enjoys certain credibility, at least in the US, being considered a well-known and reliable online payment service. Even the fees are better for eBay compared to PayPal fees. Just like PayPal, it offers its users access to an account and security regarding their payments. An additional key aspect would be that, unlike PayPal, this service deposits the money directly in bank accounts.
Allpay.net - This is a complex service that covers mostly Europe and UK, but also other countries worldwide. It is based in the United Kingdom, therefore it should be the top choice priority among the United Kingdom residents and citizens. Unfortunately, this service does not work for clients in the United States or Canada.
CertaPay - This service is a great alternative to PayPal, especially as far as eBay is concerned, but, unfortunately, it is only available for clients in Canada, as it only works with Canada banks. The service is based on a different system compared to the others. It is used mostly to transfer money from a bank account to an email account. It is worth mentioning that CertaPay is a financially stable and highly reputed company.
Paymate – The Paymate service is intended for users in Sydney, Australia and New Zeeland, mostly because of the fact that its base is in Sydney, Australia. It is eBay-approved and can be used for other online commerce sites as well. The money is transferred to the users’ Australian bank account, and, in addition, the service provides a payment button, in order for the user to faster initiate transactions. The best thing about this service is that it serves more than 37 countries around the world, making it easy for internet users everywhere to buy and pay for the things they need or to receive money from their clients fast and safe. The payment system is really simple, transactions being made from one email account to another one, fast and easy.
Of course, there are other services out there, but less known and based on more complicated systems.