Cheaper alternatives to PayPal
Several payment platforms offer lower transaction fees and better exchange rates than PayPal, making them cheaper alternatives.
- Wise: This platform is suitable for international money transfers, using the real mid-market exchange rate and charging low conversion fees.
- Stripe: Ideal for online stores and businesses, Stripe charges standard transaction rates with no monthly setup fees.
- Razorpay: Best for businesses in India, Razorpay supports local and international payments via simple payment links and invoices without high forex costs.
- Payoneer: This platform is beneficial for getting paid by global marketplaces like Upwork or Amazon. It has lower receiving fees than PayPal, but you should check withdrawal costs for your local bank.
- Skydo: An RBI-authorised cross-border payments platform, Skydo is suitable for Indian freelancers, exporters and small businesses. It allows them to receive payments from international clients into their Indian bank account, using flat, transparent fees and avoiding hidden foreign exchange markups.