Several years back, most people were very hesitant to make online payments because they were totally sceptical about the security of the online stores. Even for online bill payment, people did not trust the official websites of billing companies. Most people would generally feel that online bill payment was a loss of control over their hard earned money. Scepticism and uncertainty blocked the minds of the consumers who would then prefer writing cheques as opposed to online bill payment.
For years, PayPal has had pretty close to a monopoly on internet spending. In case you are not aware, PayPal is an internet service that allows people to transfer money back and forth between bank accounts in a completely secure way. Of course, PayPal does charge a nominal fee for each transaction that is made, but for many that convenience is worth the fee. Yet, just recently there has been a host of competitors that have challenged PayPal’s supremacy in the market, and they are beginning to pick up steam and take customers away from the service. These competitors have a long way to go, but they are offering new services and different strategies to set them apart from PayPal and to attract a new customer base that is not interested in what PayPal has to offer. Here is a list of some PayPal competitor that are definitely worth a shot: