Paypal alternatives for receiving electronic payment in Africa

Paypal alternatives for receiving electronic payment in Africa

Hunting for paypal alternative? According to businessnewsdaily, what might be a great paypal alternative for a local pizza shop owner in texas, might be less than stellar option for a global business

This portrays variety of reasons that drives people to be in search from article to article, to handpick the specific electronic payment that would suit their urge

Hunting for paypal alternative? According to businessnewsdaily, what might be a great paypal alternative for a local pizza shop owner in texas, might be less than stellar option for a global business

This portrays variety of reasons that drive people to be in search from article to article, to handpick the specific electronic payment that would suit their urge

Also, below are major incentives behind people seeking paypal alternatives

  • Frozen or suspended account over small issues
  • High transaction charges
  • Features restriction by geographical location

However, when it comes to Africa, people wouldn’t have cared for more other features than the most significant one [receive payment option/tab] liberated from the platform but conferred on few out of many countries in the continent.

Also Read: Reasons My Debit Card Was declined [And How To Fix Them]

Here are electronic payment platforms you could easily use as paypal alternative

  1. Bitcoin

According to bitcoin market journal 2018 study, almost 32 million bitcoin wallets had been set up globally

Aside 7.1 million active bitcoin users, the leading exchange coinbase has over 14 million users, leading us to cambridge centre for alternative finance study, stating 40% of consumers would indeed prefer making purchases with bitcoin

Imagine the transaction made from these wallets, with zero geographical location limitation?

However, since it’s borderless means of exchange, with no intermediary taking cut from any transaction.

The course of action is to sign up for a wallet, whenever payment is made into the wallet, you could chiefly make an exchange to your local currency, through bitcoin exchange

Coinbase: secured bitcoin trading platform and wallet for accepting bitcoin payment 

  1. Wise

What makes Wise to be unique; the fixed mid-market rate [interbank rate], since wise does not distort currency change rate, whenever customer send money, mid-market rate is offered in a specific time frame from 24 hours for most countries, 48 hours for few countries and 72 hours for Brazilian real [R$] called the [guarantee rate] feature, preventing your sender from constant changing in currency exchange rate ,and deciding of rate before transaction.

 Don’t worry about conversion charges, your payment is made directly in your local currency

  1. Skrill

Formerly known as [moneybookers], without bank details, the platform makes it easier sending money to another user with just the recipient email address.

However, skrill electronic payment do rejoice with payee [recipient] sharing out of the transferred fund, by deducting 3.99% for currency conversion and 1.9% for transaction fee, if that is fine with you, then consider it as the best decision you ever made, signing up for a payment service.

Check the non-serviced country page, to confirm if your country is one of the supported.

Sign up here

  1. Payoneer

 Aside crypto currency payment services, the next in line I so much adore is payoneer, firstly for being available in so many countries in Africa [south Africa ,Kenya, Nigeria, Uganda, Seychelles, Egypt, morocco, Ghana, Comoros, Cameroon] and so on

Secondly, the simple bank transfer comfortability and easy to understand ways to access fund with the payoneer proprietary master card, it’s an outstanding experience

Lastly, which is the major drawback of the service, which I won’t keep from you, as many payment services charge only for receiving or sending money, payoneer charge for both.

You are also entitled to $25 bonus, once you have left the $1000 transaction benchmark

  1. Neteller

When you think of skrill payment service, tag netteller along, they operate in similar ways from few unsupported countries [13-15] range

Check the non-serviced country page, depositing and withdrawal fees deduction [1-8% fee deduction] for deposit, depending on payment method, [1.9%] withdrawal fee with 3.99% currency conversion fee [exchange rate].

However, upgrading to neteller vip program, drastically drop all transaction charges to fair and reasonable rate.

  1. Ria

Shedding ria off the list, would only beget highly exclusive list, since it services plethora of countries in the continent [check ria supported African countries list] and download their apps to fully leverage the payment services.

  1. Western union

The most common global payment platform, existing for decades, you can receive your funds in various ways [cash pickup from their over  500,000 agent locations across the globe, mobile wallet deposits] and more.

If you decide to pick up the cash in person, don’t forget to show up with required ID

  1. Azimo

According to trustpilot review, azimo pulls excellent customer reviews with 91% satisfaction rate among 22,000+ customers with feedbacks.

What really makes azimo to standout are the abundant numbers of countries supported by the payment service and currently less than 5 countries not eligible to receive payment in Africa out of the great figures.

Exchange rate offered, is similar to transferwise locked in advance feature with assurance of knowing the exact amount or transaction outcome.

As at when writing the article, where azimo falls short is US residents are not eligible to send money through the platform, with this, kindly offer your merchandise or freelance service to other countries or switch the electronic payment service.

  1. Moneygram

Moneygram and western union are closely related in terms of services and operations.

Nevertheless, moneygram is one of the oldest and globally trusted foreign exchange services.

Despite cramming their pockets with padding of the interbank rate and transfer fees as profit, your sender can still decide his/her exact exchange rate before making the transfer, with your fund withdrawal in multiple ways [mobile wallet, directly into bank account] and so on.

  1. Worldremit

Is a good payment service platform, if you currently have no client or payment coming from Louisiana or New York City, because worldremit has not been licensed in those states.

Don’t forget to check if you country is one of the few unsupported African countries

  1. Transfergo

Transfergo is one of the payment services, with great feedback from customers, established for receiving your cash the easiest way, servicing over 20 African countries to get your hands on the cash through the payment platform

Also Read: Affiliate Marketing Guide, How You Can Get Started

Conclusion

If one of the best payment processors could lead us here, apparently, none of these would be without downside, just try to play around the payment services website and stick to your most preferred pick

What payment service do you found missing? Kindly drop it in the comment box for review

 

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