When it comes to making payments online, PayPal is often seen as the go-to payment system. But with the rising popularity of digital transactions, there are other alternatives available that can offer great features and services. Whether you’re a business owner, freelancer, or just an everyday consumer in Australia, it can be important to know what your options are when it comes to payment solutions. In this blog post, we’ll be exploring the best PayPal alternatives in Australia, with a special focus on features, and fees.
Why Need PayPal Alternatives in Australia?
PayPal is a convenient way to send and receive money electronically, but it has its disadvantages.
- Using PayPal can be costly – there are fees for sending and receiving money and additional fees for currency conversions or other services.
- PayPal has limited customer service options and may take several days to process refunds.
- Because PayPal is not a bank, it does not offer consumer protections like a bank does. This means that if you experience fraud or unauthorized charges, you may not be able to get your money back.
- PayPal does not offer protection from identity theft.
For these reasons, many people are looking for an alternative.
5 Best PayPal Alternatives in Australia
1. Stripe
Stripe is a top-notch payment processor and merchant services provider, and it’s easy to see why – they have an A+ rating from the Better Business Bureau and they provide a comprehensive, global payment system that can accept more than 135 currencies.
It is the perfect payment processor for any business – no matter the size! Their transparent pricing and discounts for big-time merchants make it a great deal. And you can trust that your payments are safe and secure with Stripe.
No shocker that tons of companies turn to Stripe for their payment processing and merchant services.
Stripe Standard Fees:
- Per Transaction Costs: 2.7% to 2.9% + 5 cents to 30 cents domestic
- Monthly Fees: $0
- Funding: Standard two business days; Instant Payouts within 30 minutes
2. SecurePay
SecurePay is a super safe, user-friendly way to pay online in Australia. It’s got all the bells and whistles to make the experience secure and easy to use.
Businesses can rely on this solution to easily accept payments online, get detailed reports, and get assistance from local support, allowing them to make transactions on the go with no hassle.
SecurePay gives you a simple, accessible dashboard to set up daily reports and keep track of your transaction history whenever it’s convenient.
They can also help simplify the experience of paying for products and services, letting customers take charge of their checkout process and schedule one-time payments if needed.
SecurePay Standard Fees:
- Domestic cards: 1.75% + $0.30 AUD
- International cards: 2.90% + $0.30 AUD
- Chargeback fee: $25
3. AfterPay
Afterpay is a payment solution that makes it easier for customers to purchase items. It allows customers to pay for items over four installments, breaking up the cost of the purchase into smaller payments.
Customers only need to pay the first installment at checkout and then pay the remaining three installments over the next six weeks.
Afterpay does not charge any interest or hidden fees, making it a great alternative to traditional forms of payment. Additionally, it is secure and easy to use, making it a popular choice for customers who want more flexibility when it comes to making purchases.
AfterPay Standard Fees:
- Domestic cards: 4 to 7% and $0.30 per transaction
4. Square
Square is a powerful and affordable payment processing and point of sale (POS) platform designed to provide businesses of all sizes with the tools they need to accept payments and manage their operations.
From brand-new startups to large multi-store operations, Square offers an unbeatable fee structure that can help small businesses or startups save money and keep costs low.
In addition to being cost-effective, Square offers a wealth of features that businesses can take advantage of, such as advanced analytics, insights into customer trends, inventory management, and the ability to customize their checkout processes.
Square Standard Fees:
- Contactless payments: 2.6% + 10¢
- Manual payments: 3.5% + 15¢
- Invoice costs: 2.9% + 30¢ or 3.5% + 15¢ if processed using the card on file.
5. Braintree
Braintree is a rapidly growing payment system that has gained popularity as a PayPal alternative.
They provide a secure, reliable payment system suitable for businesses of all sizes. It includes a suite of features such as a merchant account, secure payment gateways, and a range of payment methods including debit and credit cards, PayPal, and Apple Pay.
Braintree’s fraud protection is top-notch and it is easy to use and manage. They also offer a range of pricing plans that are designed to fit any budget.
With its low transaction fees and quick setup, Braintree is an excellent choice for any business looking for an efficient and secure payment system.
Braintree Standard Fees:
- Cards and digital wallets: 2.59% + $.49 per transaction
- Venmo: 3.49% + $.49 per transaction
- ACH Direct Debit: 0.75% per transaction
Wrap-Up: PayPal Alternatives In Australia
So, that’s a wrap! Please let me know which PayPal alternative is best suited for you as an Australian user. Drop the comments down below.
