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Openpay vs PayPal: What are the differences?
- Transaction Fees: Openpay does not charge any transaction fees to merchants, whereas PayPal charges a transaction fee ranging from 1.9% to 3.4% + a fixed fee based on the currency.
- Payment Flexibility: Openpay offers flexible repayment options to customers through installment plans, while PayPal primarily focuses on instant payments without installment options.
- Integration with E-commerce Platforms: Openpay offers seamless integration with various e-commerce platforms, making it easier for merchants to set up the payment gateway, whereas PayPal also provides integration but may require additional steps for customization.
- Target Market: Openpay is geared towards brick-and-mortar businesses looking to offer installment plans to customers, while PayPal caters to a wider range of businesses, including online retailers and freelancers.
- Refund Process: Openpay's refund process is more straightforward and efficient, whereas PayPal's refund process may involve additional steps and time to complete.
- Customer Support: Openpay provides personalized customer support to merchants, ensuring quick resolution of any issues, while PayPal offers extensive online resources but may lack personalized support for smaller businesses.
In Summary, Openpay and PayPal differ in their transaction fees, payment flexibility, integration options, target markets, refund processes, and customer support.
Decisions about Openpay and PayPal
Lucas Litton
Founder & CEO at Macombey · | 4 upvotes · 297.3K views
We use GoCardless to simplify the way clients and partners pay for our services. What intrigued us is the quick and easy ACH feature that gives our clients the option to log in with their bank account and shoot the funds directly to our account. The fee, compared to Stripe is less. Stripe and PayPal charge 2.9% + 30c and Stripe also forces the client to enter in all of their payment details manually and then if the payment doesn't work, the client has to try all over again. GoCardless charges 1% + 25c which is much more reasonable dealing with the large projects that we are currently working on.
We integrate GoCardless with Xero to easily send out quick invoices, receive the funds and track all revenue in one place.
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Learn MorePros of Openpay
Pros of PayPal
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Pros of PayPal
- Most known service196
- Consumers know it135
- It's available for many countries113
- Easy70
- Best way to get paid outside US54
- Most widely used payment processor35
- Express Checkout25
- Consumers trust it16
- Flexible and secure15
- Digital Goods for Express Checkout6
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Cons of Openpay
Cons of PayPal
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Cons of PayPal
- Not well written recurring payment api1
- Less countries supported1
- Harder to get started with1
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What is Openpay?
It provides an API that enables companies to accept and send payments to customers and suppliers via Internet or mobile phones enabling e-Commerce and m- Commerce.
What is PayPal?
PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards.
PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.
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What companies use Openpay?
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What are some alternatives to Openpay and PayPal?
Conekta
It helps businesses in Mexico and LATAM accept online payments using credit and debit cards, cash payments, and bank transfers. It offers an API that handles the complications of building a payment gateway such as security, anti-fraud, and scaling. Besides card payments.
Stripe
Stripe makes it easy for developers to accept credit cards on the web.
Braintree
Braintree replaces traditional payment gateways and merchant accounts. From one touch payments, to mobile SDKs and international sales, we provide everything you need to start accepting payments today.
Blockchain
It is a bitcoin block explorer service, as well as a cryptocurrency wallet supporting bitcoin, Bitcoin Cash, and Ethereum.
Adyen
A payments technology company that provides a single global platform to accept payments anywhere in the world. Businesses can process payments across online, mobile and in-store (POS) with over 250 payment methods and 187 currencies.