StartupStash Team
StartupStash Team

The world's biggest online directory of resources and tools for startups and entrepreneurs. Most upvoted product of all-time on ProductHunt.

Best Venmo Alternatives To Make Online Payments Easier

Have you ever split a bill with someone? You’ve just eaten an amazing meal at a restaurant with your friends. At the end of the meal, the bill arrives and you all have to divide the amount among yourselves. It’s really awkward if all of you all swipe your card or pull out cash. So one person pays the bill and everybody else pays that person.

If this is a scenario you’re familiar with, congratulations, you have friends! More importantly, you’ve probably used a mobile payment tool to settle your bill.  You’re not alone, because the usage of mobile payment applications has risen dramatically in recent years.

According to a report by Statista, the worldwide mobile payment revenue in 2015 was 450 billion U.S. dollars and is expected to surpass 1 trillion U.S. dollars in 2019. Such numbers mean that all readers of this article will probably end up using a mobile payment application at some point if they aren’t already!

In case you’re undecided about which of the many payment tools is best suited for your needs, it might help to go through some of the pros and cons. This article will focus on Venmo, a payment tool under the wing of PayPal, an industry giant.

One of the features that make this tool stand out is that it doubles up a social feed where you can chat with your friends. Another pro is that it is really easy to use because of its intuitive UI.

One of the main cons of the Venmo is that it can sometimes be used by hackers to scam unwitting customers out of money. Another con is that Venmo charges high ATM Withdrawal fees when compared to other payment tools.

In case you want to look at some more options before making a decision, our team at Startup Stash has put together a list of Venmo alternatives that can help you make a more informed decision.

 

Skrill has been around for almost 20 years now, and it is more than a digital payment platform. Sending and receiving money is just a basic function. With this tool, you can buy and sell crypto. You can get a pre-paid debit card issued to your account, or even set up a merchant account for your business.

Moreover, the Skrill Money transfer platform can deliver the money into your bank account, on the same day, if you're lucky enough.

Payoneer is an online payment company with a broad global presence. Thanks to its rather low fees and seamless intuitive system, many freelancers and businesses worldwide prefer it. Payoneer boasts an all-around set of digital payment services, even a cashflow solution for eCommerce vendors on Amazon and Walmart.

Moreover, Payoneer helps you pay your VAT directly from your account. You can pay your suppliers from your balance, for free and you don't even need a bank account to withdraw money.

Stripe powers payments for thousands of businesses of every size, from startups to Fortune 500 companies. It is easy to use and create a payment experience with it. In addition, it handles security and daily transfers to your bank account like a dream.

Although it has been around for 10 years now, it was only a couple of years ago that it became a good contender for PayPal itself. Stripe is definitely worth a shot, the creators seem to know what they're doing.

WePay is a payments API company that has built its API specifically for platform businesses like marketplaces, crowdfunding sites and small business software. These platforms are empowering millions of users worldwide to unlock all kinds of creative commerce.

Through its proprietary Veda social risk engine, WePay gives platforms a flexible payments API that provides a great user experience while still being able to take on all their fraud risk and compliance burdens.

PayPal's top features include PayPal Express checkout for companies that accept credit cards; PayPal Payments Standard for basic payment plans. Moreover, with the PayPal Payments Pro, you can host a checkout on your website, while it also boasts a feature that allows you to set up recurring payments.

Freelancers and contractors can use online invoicing that is quick and easy to use for the services they perform. PayPal has also developed a mobile app for collecting payments on the go.

Although it is run by PayPal, Braintree provides its own share of advanced payment features and seemingly better customer support. Braintree is the "young kid on the block" teaching its grandpa PayPal some tech-focused payment solutions and tools.

Things like recurring billing, customizable sales reporting, and seamless integration with other third-party apps and services like BigCommerce, Shopify, Magento etc are part of Braintree. It also offers Python, PHP, Java, iOS, and Android libraries.

StartupStash Team
StartupStash Team

The world's biggest online directory of resources and tools for startups and entrepreneurs. Most upvoted product of all-time on ProductHunt.

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