If you're running an online business or planning to start one, choosing the right payment processor is one of the most important decisions you'll make. From managing international transactions to ensuring low fees and seamless integrations, your choice can significantly impact your bottom line. Whether you're comparing PayPal for business, Wise (formerly TransferWise), Stripe, MercadoPago, Payoneer, or Revolut, each platform has unique features tailored for specific needs.
In this article, we'll take a deep dive into how PayPal for Business works and compare it with its main competitors. We'll evaluate transaction fees, supported currencies, ease of integration, customer support, and more — helping you decide which one makes the most sense for your business. Whether you're a freelancer, e-commerce store owner, or SaaS provider, this guide will help you navigate the complex world of online payment gateways. And yes, Stripe is going to come up often — for good reason.
PayPal for Business is more than just a button on your checkout page — it’s a robust platform designed for sellers, freelancers, and enterprises. It allows you to send invoices, receive payments globally, manage subscriptions, and even apply for small business loans. Setting up is relatively straightforward. Once your business account is verified, you can accept payments via email, a custom checkout page, or through integrations with platforms like Shopify, WooCommerce, and BigCommerce.
One of PayPal’s biggest advantages is consumer trust. Buyers are more likely to complete transactions when they see PayPal as a payment option, especially in countries like the U.S., U.K., and Germany. Additionally, the dispute resolution system protects both buyers and sellers, though many merchants feel it favors the buyer in chargebacks.
That said, PayPal's fees can add up quickly. Domestic transactions usually incur a fee of 2.9% + $0.30, and cross-border transactions carry an additional 1.5% fee. Currency conversions also include a markup, which can quietly reduce your profits over time.
When it comes to flexibility and developer tools, Stripe is often the first name that comes to mind. It offers an incredibly powerful API that allows full customization of your checkout process, recurring billing, and detailed reporting. Stripe supports over 135 currencies, making it a great choice for global businesses. Unlike PayPal, Stripe keeps your customers on your website during checkout, which can significantly improve conversion rates.
Stripe’s pricing is transparent: 2.9% + $0.30 for domestic transactions, and an additional 1% for international cards. There's also a 1% fee for currency conversion. While these numbers are similar to PayPal’s, the way Stripe handles subscriptions, chargebacks, and API-based customization gives it an edge for SaaS and digital service providers.
Stripe is ideal for developers, tech startups, and businesses that want complete control over the payment experience. However, for non-tech users, the setup may require assistance or third-party plugins to fully leverage Stripe’s capabilities.
Wise is a game-changer for international transactions. Unlike traditional processors that rely on currency exchange markups, Wise uses real exchange rates and charges a transparent, low fee. This makes it a fantastic option for freelancers, agencies, and remote teams dealing with cross-border payments.
Wise is not a traditional payment gateway. You can't use it to accept credit card payments on your website, but it's brilliant for receiving payments from platforms like Upwork, or directly from clients who want to avoid PayPal’s high fees. Wise also offers a multi-currency account where you can hold, send, and receive money in various currencies without constantly converting.
For businesses that frequently send money to contractors or suppliers in other countries, Wise can save hundreds or even thousands of dollars a year. It's easy to use, and their customer support is often praised for being transparent and fast.
Payoneer is another excellent option for global freelancers and businesses. It’s widely accepted by platforms like Fiverr, Amazon, and Airbnb. With a Payoneer account, you can receive payments in multiple currencies into a single dashboard and transfer funds to your local bank account or withdraw using the Payoneer Mastercard.
Fees vary depending on how you're paid. Receiving payments from another Payoneer user is free. Receiving from clients via credit card incurs a 3% fee. Bank transfers from the U.S., EU, UK, and Japan cost around 1%. Currency conversion includes a 2% markup, slightly lower than PayPal's.
What sets Payoneer apart is its flexibility with B2B payments and marketplace integration. It also offers working capital to select sellers, making it a decent alternative to PayPal and Stripe for businesses operating on marketplaces.
MercadoPago is the leading payment processor in Latin America, backed by MercadoLibre — the region’s Amazon equivalent. It's a solid choice if you're operating in Argentina, Brazil, Mexico, or other LATAM countries. The platform supports multiple local payment methods like boleto, OXXO, and Pix, helping merchants reach customers without credit cards.
Its dashboard is similar to PayPal’s, with the ability to generate payment links, receive QR code payments, and integrate with local e-commerce platforms. However, its international capabilities are limited. The fees depend on the country but are generally higher than those of Stripe or Wise.
If you’re looking to tap into the Latin American market, MercadoPago is a must-have. But for global reach, it’s best used in combination with Stripe or PayPal.
Revolut Business offers a mix of banking features and international payment capabilities. It includes multi-currency accounts, physical and virtual cards, payroll integrations, and API access. You can also hold funds in over 30 currencies and spend directly without conversion fees at interbank rates — a huge advantage for frequent travelers and import/export businesses.
Revolut Business supports card payments on your site, but this feature is still expanding and less developed compared to Stripe or PayPal. Pricing is tier-based, starting with a free plan that includes limited transfers and scaling up to premium plans with more features and lower fees.
For small businesses looking for an all-in-one financial solution, Revolut is a solid choice, especially if paired with Stripe for payment processing or Wise for international transfers.
Here’s a quick breakdown of the core fees for each platform, though you should always double-check the official sites for the most current rates:
For businesses focused on global reach, combining Stripe with Wise or Payoneer often delivers the best of both worlds — low fees and wide accessibility.
The best payment platform depends on your business model, target market, and transaction volume. Here’s a brief guide to help narrow it down:
For most online businesses, a hybrid approach works best. For example, using Stripe for card payments, Wise for international transfers, and PayPal for marketplaces can reduce fees while increasing flexibility.
In 2025, having a single payment solution is rarely enough. Customer preferences, global expansion, and operational costs all require a multi-platform strategy. While Stripe shines for customization and subscription management, PayPal continues to dominate with its trusted brand and ease of use. Wise and Payoneer are invaluable for international efficiency, and Revolut and MercadoPago bring regional advantages that can't be ignored.
Ultimately, the best setup for your business might not be the one with the lowest fees, but the one that offers the best experience for your customers — and that helps you grow with fewer headaches. Experiment, track your metrics, and don’t be afraid to pivot as your needs evolve.
Have you tried any of these payment platforms for your business? Which one has worked best for you — and why? Share your thoughts and tips in the comments below!
Can I use Stripe and PayPal at the same time?
Absolutely. Many businesses use both to give customers more payment options and improve conversion rates.
Is Stripe better than PayPal for subscriptions?
Yes, Stripe offers more robust tools for managing recurring payments, including automatic retries and proration.
Which is the cheapest way to receive international payments?
Wise often has the lowest fees due to real exchange rates and minimal overhead costs.
Is Revolut a payment processor or a bank?
Revolut is more of a financial platform than a traditional payment gateway, but it does offer business payment tools and virtual cards.
Can I accept payments in Latin America using Stripe?
Stripe supports several countries in Latin America, but if you're targeting local users, MercadoPago may offer better results due to regional familiarity.