There were times when we had to carry cash along with us where ever we go. With cash we carried fear about not missing the same half way through. Credit or debit cards came in took the fear factor away from us. However, these had their limitations. Early 2000s saw the new payment system called Paypal. Since then Paypal rules the rooster helping all who are registered with it to pay and receive through it.
Paypal has been a payment system with a lot of controversies. But due to the absence of a strong contender and quick invasion of the market place with the online business, Paypal still remains high. Almost every online business boasts of having Paypal as its payment system. Paypal enjoys strong monopoly capturing the market as an early bird at the right time with the right systems in place. Though not really strong contenders, there are still alternatives available for Paypal. Here are some such alternatives.
While Paypal facilitates business as well as personal transactions, Venmo targets individual who are predominantly social spenders. This means every commercial transaction made by individuals can be made visible to public if this option is enabled in Venmo. Venmo’s approach towards socializing individual commercial transactions makes it a unique product.
- Amazon payments
Till Paypal was associated with eBay Amazon did not make a tie up with it and created their payment platform. Amazons payment platform offers high levels of security to its vendors as well as customers. Amazon Payment platform is highly user friendly and helps users combine their regular accounts with that of Amazon in simple easy steps.
The cashtag feature in Square helps its customers to pay and receive money without revealing their personal information like address, mobile number etc. Square helps its customer make payment in a private safe manner making use of its user friendly simple features. Square is highly useful for small business owners who can transact in a safe manner without much hassles that prevails in bigger payment options like Paypal.
- Apple Pay
This Payment option must be actually on the top of this list for the advanced level of technology it uses and the highest level of security it offers which is unbeatable in today’s context. The basic requirement being a high configuration Apple smart phone which can be used across counters by simply waving in front of a card reader for the purpose, all pertinent information of your gets saved in the card. Apple Pay avoids your data getting hacked by hacking servers which is a common danger in payment options like Paypal.
- Google Wallet
The best contender to pull Paypal down, Google Wallet is an easy to use secured payment method which requires just a Google account basically. Google Wallet supports payments both through Android as well as iOS devices. Since Google Wallet stores all the pertinent information about in the cloud, which goes to shows that it is compatible with many numbers of card readers across various locations