Paymo Competitors and Alternatives (2024)
But, Paymo isn’t your only payment processing option. In this article, we’ll dive into the top Paymo competitors and alternatives for your business.
We’ll also talk about how the Wise Business account can help you manage your business easily and cost-effectively across borders.
Wise Business
Wise is not a bank, but a Money Services Business (MSB) and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies.
You can also get 9 major currency account details for a one-off fee to receive overseas payments like a local. You can open and manage your account online, or via the app, whenever you need. No need to wait in line or book appointments.
Make Low-cost Payments with Wise Business
For an international business, it's important to manage their payments with a business account that supports multiple currencies worldwide. Withdraw from your merchant account to an international business account, such as Wise
Square
You might have seen Square’s logo on payment processors in retail stores or coffee shops. The company is dedicated to crafting online payments and POS systems. They also provide other products like loyalty programs and banking products. Sending payments to vendors or employees is simple with Square Cash. Customers send an email out to the person they’re paying, and after the recipient enters their card details, the money is directly transferred to their bank account. There’s also a dedicated full-service payroll product that includes employee benefits and tax filings. With Square, there are endless ways to receive money. For in-person payments, there are sleek registers, terminals, and readers, while online payments can be made through online checkout, invoices, payment links, a POS app, or even installments with Afterpay.
Pricing:
Square offers many services with varying fees. If you're focused on payment processing, Square charges a fee of 2.6% + 10¢ as a standard processing fee. However, their Square Business Checking Account is free.
FIS Global (Worldpay)
FIS Global (formerly known as Worldpay) is a payment processor focused on global markets. They support payments in 126+ currencies, across 50 markets. Additionally, they offer 300 Alternative Payment Methods (APM).This wide range of local payment methods can help increase international customer conversion. WorldPay offers an end-to-end omnichannel payment processing solution that streamlines the checkout process. That said, they offer tailored pricing plans, which can vary depending on the region.
Pricing:
Contact Sales
Checkout.com
Checkout.com is another payment processing solution with an international payment gateway, which is available in 45+ countries and supports 150+ currencies. It also supports local payment methods. It has zero setup fees, fraud protection, reporting and a single unified payments API, and their pricing is flat-rate but quote-based, tailored for your specific business and risk category.
Pricing:
Flat pricing structure, but you must contact sales
TSYS
TSYS is global company specializing in a number of services, such as digital onboarding, activation and rewards, authentication, loyalty, and payment processing. TSYS helps process both debit and credit payments. They help you stay compliant with continuously updated regulatory frameworks. Most importantly, their payment processing solution is global with coverage across 80+ countries. You can customize the experience for your personal needs and rely on the TSYS expertise, as they process billions of transactions annually.
Pricing:
Contact Sales
Bolt
At its core, Bolt software offers a one-step checkout for merchants to offer on their ecommerce sites. This solution is available both for entreprise and mid-market businesses and can help you optimize and increase your ecommerce conversions. On top of their checkout feature, Bolt software has offers a few add-ons, including payments, fraud protection, and order tracking. Let's take a look at their payments add on. With Bolt, you can tap into multiple payment options from payment processors. Most importantly, you get an easy way to offer alternative payment methods on your website. Specifically, you can take a look into multiple payment providers: APMs, Private label credit cards, and payment processors. Among these payment processors, you'll find top companies, such as Stripe, PayPal, and Adyen.
Pricing:
Contact Sales
Looking for a Better Alternative? Try Wise Business
Some features Wise Business users love
Receive Payments like a local: Businesses can pay a one-time fee for accounts details in global currencies, such as USD, EUR, GBP, CAD, so they can receive money without any additional fees
Send payments at low cost: Wise Business is doing its best to lower the costs of doing business. With the mid-market exchange rate, you can send money overseas with Wise and avoid hidden fees.
Account Software Integration: QuickBooks, Xero, Sage, and Wave
Payroll and batch payment tools: Pay up to 1,000 invoice in one instance
The International Account: Hold and make payments in 40+ currencies
Transparency: Wise Business is trying to get rid of all your business account fees
Flywire
Flywire is a global payment solutions provider, specializing in simplifying complex payment processes for businesses and institutions across various sectors. By offering a suite of payment solutions, the company ensures secure, transparent, and efficient cross-border transactions. It supports a broad range of local payment methods and currencies, ensuring that payers can choose methods familiar to them. Additionally, Flywire's platform provides tracking and customer support to give peace of mind to payment senders and receivers. By addressing the challenges inherent in global transactions, Flywire has established itself as a key player in the international payments landscape, fostering trust and ease in financial exchanges worldwide.
Pricing:
Contact Sales
Shift4
Shift4 provides integrated payment processing and point-of-sale (POS) solutions. The company helps facilitate secure and seamless payment transactions for business of all sizes. Shift4 is designed to streamline operations, reduce costs, and enhance customer experiences. In addition to payment processing, the company offers business analytics, online ordering, and end-to-end payment security solutions. The company's history in the payment space has made it an important company in commitment in the the evolving payments landscape.
Pricing:
Contact Sales
Elavon
Elavon is a global payment processing and merchant services company. They provide end-to-end payment solutions for businesses of all sizes. This includes in-person payments that accepts cards, contactless and mobile wallet payments. Elavon also helps you conduct online payments, serves as a payment gateway, and helps optimize how you handle payments. Of course, a essential part of payment services is security, so they provide PCI compliance, as well as fraud mitigation. All of this ensures that both Elavon users and their customers have a good customer experience.
Pricing:
Contact Sales
Paysimple
PaySimple is an integrated payment solutions platform. The market themselves toward SaaS companies and small businesses. PaySimple offers numerous services including electronic invoicing, online payment gateways, credit card processing, and automated recurring billing. In addition to these functions, the solution assists in streamlining payment processes and improving cash flow. PaySimple services help you facilitate payments online, in-person, and via smartphone. This means you won't miss a customer wherever they try to make a payment.
Pricing:
$79.95 /month + credit card transaction fees of 2.90% + $0.30 per transaction + 1.00% + $0.30 on ACH/eCheck processing
FastSpring
FastSpring is an ecommerce platform that caters to the specific needs of businesses and companies with digital products. FastSpring offers payment processing, subscription billing, and digital fulfillment. The platform has attracted customers for its ability to overcome complex ecommerce challenges. For global companies this could include global tax management, compliance, currency conversion, and price localization. This comprehensive ecommerce solution makes sure that you can focus on your business needs rather than the complexities of online sales.
Pricing:
Contact Sales
Try Wise Business for Overseas and Domestic Payments
Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies.
You can also get 9 major currency account details for a one-off fee to receive overseas payments like a local. You can open and manage your account online, or via the app, whenever you need. No need to wait in line or book appointments.
Sources:
- https://www.tsys.com/
- https://www.bolt.com/contact-sales
- https://www.flywire.com/
- https://www.shift4.com/
- https://www.elavon.com/contact-us.html
- https://paysimple.com/pricing/
- https://fastspring.com/pricing/
- https://www.paymoapp.com/pricing/
- https://squareup.com/us/en/pricing
- https://www.fisglobal.com/en/solutions-contact
- https://www.checkout.com/pricing
- https://www.trustpilot.com/review/wise.com
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.