Bambora vs PayPal: What are the differences?

Introduction

Bambora and PayPal are two popular online payment platforms that enable businesses and individuals to send and receive payments securely. While both platforms offer similar services, there are key differences that set them apart. In this article, we will explore the main differences between Bambora and PayPal.

1. Transaction Fees: One of the primary differences between Bambora and PayPal is their transaction fee structure. Bambora offers transparent pricing with fixed transaction fees, while PayPal's fees can vary based on several factors such as transaction volume, currency conversion, and the type of transaction (e.g., online, in-store). Bambora's fixed fees can be advantageous for those who prefer predictability in their payment processing costs.

2. Accepted Currencies: Another important distinction is the range of currencies each platform supports. Bambora accepts a wide range of currencies, which is especially useful for businesses with global operations or international customers. On the other hand, PayPal supports an even broader array of currencies, making it an ideal choice for businesses operating in multiple countries.

3. Integration Options: When it comes to integrating payment functionality into websites or applications, Bambora and PayPal offer different options. Bambora provides a robust API that allows businesses to customize the payment process and seamlessly integrate it into their existing systems. PayPal, in addition to its API, also offers ready-made buttons and widgets, making it easier for individuals and smaller businesses to quickly add payment functionality to their websites without extensive coding.

4. Additional Features: While both Bambora and PayPal serve as payment gateways, they also offer additional features that cater to different needs. Bambora provides advanced reporting and analytics tools, allowing businesses to gain insights into their payment data. PayPal, on the other hand, offers a range of solutions for online marketplaces, including split payments, subscriptions, and invoicing, making it a versatile option for different business models.

5. Mobile Payments: Mobile payments are becoming increasingly important in today's digital landscape. Bambora offers a mobile SDK (Software Development Kit) that allows businesses to integrate payment functionality into their mobile apps, providing a seamless experience for customers. Similarly, PayPal offers a mobile SDK and mobile-optimized payment pages, empowering businesses to accept payments conveniently on mobile devices.

6. Customer Support: Lastly, customer support is an important consideration when choosing a payment platform. Bambora provides 24/7 customer support via phone, email, and live chat, ensuring that businesses can get assistance whenever needed. PayPal also offers customer support, but some users have reported difficulties in reaching support representatives during peak periods.

In summary, Bambora and PayPal differ in terms of transaction fees, supported currencies, integration options, additional features, mobile payment capabilities, and customer support. These differences allow businesses and individuals to choose the platform that best aligns with their specific requirements.