PayPal is one of the most well-known online payment services out there. With the rise in online and mobile payments, PayPal has definitely paved the way for 21st century companies to take their goods and services online.
Despite PayPal's fame, there are quite a few drawbacks to it and the largest one being its unavailability in your country. Fret not, we've got a few ideas for you to continue growing your business if PayPal doesn't work in your country.
Back to basics
Before we start, it's probably good to know what you're actually looking for when you're looking for alternatives to PayPal. Essentially, PayPal is one of many Payment Service Providers (PSPs) that combine the role of a payment gateway, payment processor and a merchant account.
When a customer pays you with their credit or debit card, their information is passed on to a payment gateway which decides if the payment is to be approved or declined. An approved payment is the deducted from the customer's account and transferred into your merchant account. Once in your merchant account, the payment will then be transferred to your company's bank account.
You can learn more about payment gateways here.
Building your tour or activity business without PayPal
We know the importance of being present and available for customers to find you online and via mobile. It is just as important to allow them to book and pay for your tourism services online, before they even arrive at your destination. Without PayPal, there are still a myriad of different options out there. Here are just a few.
1. Regional or local equivalent
In many parts of the world where PayPal is not available, regional or local alternatives have popped up to satisfy the demand. Do a quick Google search to find out what online payment systems other businesses in your region are using. You can also verify the payment service provider's claims by asking for a free demo of their software, checking them out on social media or other review websites.
2. Silicon Valley alternatives to PayPal
Stripe and Square have also been growing rapidly in the last few years, even grabbing some of PayPal's market share along the way. While Stripe is well-known for its flexibility and customisable interface, Square has become a favourite with small businesses thanks to its beautiful POS interface.
Both are frequently used by SMEs like your tour and activity company, as well as freelancers. They aren't subscription based and have no start-up fees. The only drawback here would be the lack of personal support, as they do not provide phone support to their customers.
3. Payment services created specifically for tour and activity companies
This is where TrekkPay fills the void. That's right, our booking system comes with our very own payment gateway. Use TrekkPay and accept payments in over 30 currencies, and receive payouts into your business bank account around the world.
TrekkPay becomes extremely powerful when you combine it with other features like a booking and management software that helps you seamlessly run your business. With an in-house payment service, we are able to build features tailored for tour and activity businesses. For example, our "charge later" feature allows you to approve or decline a booking before a payment is processed to suit your availability.
You can find out how TrekkSoft's booking and payment solution works for your business and in your country during your personal demo with our team.
*Note: I've excluded banks because they deem tour and activity businesses to be risky and therefore are highly unlikely to enable credit card payments on your website. Even if they do, it is likely that you will end up paying high transaction fees that further cripple your chances of competing with other businesses.
Are you looking for a booking solution? Let us help!
