We’re currently accepting payments using Paypal. Their fees are quite steep though especially taking into account the currency exchange rates.
We now pay approximately 4% in fees plus a 2.5% exchange rate loss. Customers pay us in euros and as our Paypal account is in Hong Kong the euros are converted to HK dollars whent transferred to our bank account (though the bank account is in euros).
Does anyone know of a payment gateway with lower fees and where we can keep the balance in euros?
Each incoming payment is of around €300 so the “fixed per transaction fee” is of less importance.
You should try Nochex if you are only targeting clients from Europe. Allied Wallet could be another option.
You could check this list of over 15 credit card processing companies as alternative to PayPal.
It is compiled into a Google spreadsheet and was set to be publicly editable so anyone who wishes to add more, they can do so. The list is sorted according to its Alexa ranking, so its really good to figure out which of those that were used by most people.
You can use monebookers (Skrill) If you want to keep the balance in euros. Skrill’s default currency is in EURO. It also cost effective.
About a Year ago, I was looking for an alternative to PayPal. I went to my banker. He asked me what i was presently using. When I told him I was using PayPal, he asked my why I wanted to change. According to my banker, and many other bankers, PayPal is the best online merchant account system.
yes, i agree, Moneybooker (Skrill) is one of best alternative for paypal. But as far as i know, paypal fees is better than other payment processor out there. CMIIW
Recently I came across this article, it talks about the top 5 Paypal alternative. I guess you people will like it, read more here
I recently applyed for 2checkout account. They are accepting money in almost any currency and they have great options to start accepting credit cards rather than accepting only paypal users.
Couldn’t you just keep the money in Euro’s and set up a Euro dollar account with a bank? That way you can withdraw your money to that account, and exchange it at the banks exchange rate, which would save you at least around %1 usually.
Have you looked into stripe? Has some a bit better rates than paypal