Top 11 Paypal Alternatives for Online Businesses in Australia [2023 update]

Looking for a PayPal alternative for your online business?

PayPal is great for receiving payments. It’s the most popular payment system of its kind. But there can be several reasons why you may want to look for an alternate service.

For example:

You might not like PayPal’s fee structure in general. PayPal will charge you quite high per transaction. They are also notorious for blocking accounts. If your account gets blocked, you will temporarily lose access to your funds. Plus, you won’t be able to receive payments until they unblock you.

Even if you don’t have any issues with PayPal, why not check the other options you have?

Whether you need just a payment gateway or a complete payment system with a merchant account, these are your best options in 2023.

Related Read: Top 7 Payment Gateways for Online Businesses in Australia

1. Braintree

Website: https://www.braintreepayments.com/au

Braintree is ideal for large and established online businesses. If you want to expand outside Australia, they are probably the best choice. Just like PayPal, Braintree offers both a payment gateway and a merchant account for your business.

PayPal acquired Braintree in 2013. But the two companies operate pretty much independently.

Fees per transaction

Domestic: 1.75% + A$0.30
International: 3.90% + A$0.30 (*includeing charges for currency conversion)

Chargeback: A$25

Supported cards

Visa, Mastercard, American Express, Apple Pay, Google Pay

Pros

• Supports 130+ currencies. Great for international retailers
• Discounted pricing for businesses processing over $100K AUD per month
• Supports digital wallets like Google Pay, Apple Pay and PayPal

Cons

• It might not be suitable for small businesses or startups
• Sensitive account termination policy for new businesses

2. Stripe

Website: https://stripe.com/au

Stripe is another great choice for Australian businesses looking for international expansion. They have powerful, flexible solutions for almost all kinds of online stores.

Stripe comes with industry-leading developer-focused tools with an impressive feature list. However, an average small business owner might find all these a bit overwhelming.

Fees per transaction

Domestic: 1.75% + A$0.30
International: 2.90% + A$0.30

Chargeback: $0 (if the dispute goes in your favour) or A$25

Supported cards

Visa, Mastercard, Maestro, American Express, JCB, Apple Pay, Google Pay

Pros

• An excellent choice for international merchants. Supports 135+ currencies
• A wide range of tools and features
• Refunds chargeback fee if it is not upheld

Cons

• Extensive features might be an overkill for small businesses
• It doesn’t work if your chargeback rate exceeds 1%

3. eWay

Website: https://www.eway.com.au/

eWay is a very popular payment service provider in Australia. They are linked to all the major Australian banks and serve over 26,000 businesses.

eWay started its journey in 1998. Since then, they’ve steadily grown to become a top choice for any kind of ecommerce site.

Fees per transaction

Domestic: 1.50% + A$0.25 (for Visa and Mastercard)
International: Same

Chargeback: The fee isn’t listed on the site

Supported cards

Visa, Mastercard, American Express, Diners Club, JCB, Discover, Apple Pay, Visa Checkout, Masterpass

Pros

• Fast credit card settlement (same day or the next day)
• Very responsive customer support
• Experienced in dealing with Australian businesses

Cons

• Not customizable enough compared to its global competitors

4. SecurePay

Website: https://www.securepay.com.au/

Like any other Paypal alternative, SecurePay provides both an internet merchant account and a payment gateway for your online business. They are a business of the government-owned Australia Post.

SecurePay serves over 40,000 Australian businesses and processes 1 million transactions every day. They have been operating in the country since 1999.

Fees per transaction

Domestic: 1.75% + A$0.30
International: 2.90% + A$0.30

Chargeback: A$25

Supported cards

Mastercard, Visa, American Express, Diners Club, JCB, Alipay, WeChat Pay

Pros

• Great for small businesses and start-ups
• Generates helpful reports
• Experienced in dealing with Australian businesses

Cons

• Not ideal for large companies looking for international expansion

5. Skrill

Website: https://www.skrill.com/en-us/

Despite the business types, Skrill offers fast, secure, and instant optimised payment solutions. Skrill provides various ways to add funds to your wallet. With quick checkout, digital wallet, and rapid transfer to shopping carts, you can do any sort of transaction that suits your business needs and requirements.

Fees per transaction

The fee per transaction in the same send-and-receive currency may cost up to 4.99%. Check here to learn more about the fees and charges.

Chargeback: Skrill will charge you chargeback fees as displayed in the fees section.

Supported cards

Visa, Mastercard, Paysafe card, Paysafe cash, ACH, Diners Club International, Poli payments

Pros

• Enables you to access and manage over 40 currencies from just one account
• 100+ local payment methods are available
• World-class support with the highest anti-fraud and security standards

Cons

• The verification process may seem complicated
• It doesn’t permit bank transfers to business bank accounts

6. Square

Website: https://squareup.com/au/en

Trusted by millions, Square is another popular payment processing platform for small business owners that offers fair and transparent pricing. The platform is extremely versatile. No matter you are selling in person, online or on the go, Square can process nearly all sorts of payments.

Fees per transaction

Contactless payments: 2.6% + 10¢

Manually keyed in: 3.5% + 15¢

Online processing fee: 2.9% + 30¢ (Source)

Chargeback: Square does not charge chargeback fees.

Supported cards

Visa, Mastercard, Eftpos, Afterpay, American Express, JCB, Apple Pay, Google Pay, Samsung pay

Pros

• Square offers more business management tools
• Best for in-person and mobile transaction
• Wide range of hardware to select from

Cons

• Not a cost-effective option for high-volume transactions
• Exclusive to Square POS users

7. Venmo

Website: https://venmo.com/

A peer-to-peer payment app founded in 2009, Venmo enables its users to quickly send and receive money with no hassle. All you require to do is download the app, available for both Apple and Android, and link the app to your bank account, debit or credit card. It is mostly making the lives of small businesses more accessible.

Fees per transaction

Venmo charges a fee of 1.9% + $0.10 of the payment. Learn more about Venmo fees.

Chargeback: Depending on the outcome, Venmo may charge $25-50 per case.

Supported cards

Visa, Mastercard, American Express, Discover

Pros

• Quick transfer and easy to use
• The data encryption technology protects users against unauthorised transactions
• Essential services are free for users

Cons

• Getting in contact with customer service is complicated
• Available for people, banks and cards located in the US

8. Payoneer

Website: https://www.payoneer.com/au/

Payoneer is an international platform that brings a universe of opportunities open to cross-border sellers. From making international payments to receiving funds to managing your digital business, the financial payment service gives you all the ability. Global operating companies like Google, Amazon, Walmart, and Wish.com have been using this platform for mass payouts.

You can virtually track your transaction history, payments or account balance.

Fees per transaction

Bank transfer costs up to 2% of the transaction. Learn more here.

Chargeback: Zero chargeback fee. But a flat fee of $175 might be applicable in the circumstances.

Supported cards

Mastercard, Visa, American Express, Diners Club, JCB, Alipay, WeChat Pay

Pros

• Operate in around 200 countries with 150 local currencies
• Fully integrated solutions with expansive networks
• Robust customer support system

Cons

• High card transaction fees
• Lack of POC and payment gateway

9. Google pay

Website: https://pay.google.com/intl/en_au/about/

Google pay is a simple, fast and secure mobile payment service that you can use to pay on sites, in apps or in stores using cards saved to your Google account. You can even check out across the web and in apps without entering any payment information as well.

In addition, by adding your payment cards to Google Wallet, you can pay in a faster, easier and safer way while keeping essentials like loyalty cards, bus passes or plane tickets protected in one place.

Fees per transaction

A fee of 1.5% (minimum fee of $0.31) will be charged when transferring money through a debit card (US only).

Supported cards

Visa, MasterCard, American Express, Discover

Pros

• Quicker and safer checkout
• Personalised protection with a world-class security system
• The Google Wallet provides fast and secure access

Cons

• Not accepted at all stores and by all banks
• Limited availability in specific countries

10. Amazon Pay

Website: https://pay.amazon.com/

Amazon Pay is another online payment processing service that helps users streamline order management and payments experience. It integrates with many popular ecommerce software like Shopify or BigCommerce. It accepts you to use your existing payment method already corresponding with Amazon on sites that support the service. There is no further set-up needed as well.

Fees per transaction

The transaction fee is composed of a domestic processing fee and an authorization fee. For a $10 transaction, the fee will be 2.9% plus 30 cents for web and mobile transactions and 4% plus 30 cents for Alexa transactions. Click here to learn more.

Chargeback: The Disputed Chargeback fee for representation is $20 per chargeback

Supported cards

MasterCard, Visa, American Express, Diners Club and JCB

Pros

• Easy checkout with Amazon accounts
• Supports global customers and currencies
• Rich feature set and mobile friendly

Cons

• Include no in-person payment support
• Less compatible with various shopping platforms

11. AfterPay

Website: https://www.afterpay.com/en-AU

AfterPay is different from the other PayPal alternatives that we’ve mentioned above. It gives your customers the flexibility to pay over time via instalments.

AfterPay pays you the full amount of any purchase upfront. They later collect the money from the customers via four fortnightly instalments. Your upfront payment is guaranteed.

AfterPay is very popular in Australia. Their buy now, pay later model has become a standard alternative to regular payment methods.

Don’t get put off by their high transaction fee. AfterPay helps you convert more customers than usual and increases the average basket size.

Here are the AfterPay fees for merchants.

Fees per transaction

Domestic: 3 to 7% (depends on volume) + A$0.30 (source)
International: Not applicable

Chargeback: Not applicable

Supported cards

(Customers need to have AfterPay accounts)

Pros

• High conversion rate
• No fraud or credit risk
• Very popular among customers

Cons

• Not suitable as the only payment method
• Criticised for promoting bad spending habits

Choosing the best PayPal alternative in 2023

So, these were our picks for the top 11 PayPal alternatives. There are many others that we haven’t mentioned in this article. For example, QuickBooks is a good alternative to PayPal for personal use. WePay is another name among PayPal competitors.

But which online payment system is the best for your business?

That largely depends on your business needs. The best way to find out is to contact these payment companies and discuss your specific requirements with them.

They will provide you with more details regarding the available features and fees. You may also get custom solutions and fee structures that fit better with your ecommerce website.

Are you already using a payment system or gateway? Which one is your top pick?

Caution

Though we have tried our best to make sure the information presented in this post is accurate and up to date, you should refer to the website of each payment solution provider for correct information, especially before taking any business decision.