PayPal was one of the first online payment methods that emerged a long time ago (in 1998), and today, it is still the number one worldwide when it comes to paying for purchases made in electronic commerce. Its great advantages, such as buyer protection, high level of security, the immediacy of transfers and ease of use, have made it the preferred option for many users.
Currently, many alternatives to PayPal on the market are fighting to unseat it as the most used payment gateway. PayPal continues to be the market leader, and proof of this is many e-commerce, marketplace, and even online casinos, which include it as a preferred payment method in their businesses. The online gaming sector is committed to this virtual payment method, and the list of casinos with PayPal continues to grow as new operators obtain their licenses to operate in Spain.
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New online payment wallets appear on the market to make it easier for users to purchase on the Internet, regardless of where they are. Many of them are becoming authentic alternatives to PayPal, taking away market share, and encouraged because the technology presents good stock market results and is a very profitable business.
Some of PayPal’s main competitors are:
It may be the best alternative to PayPal on the market, something that can be seen in the large number of e-commerce that include it as a payment gateway so that users can pay for their purchases online.
Stripe directly deposits the money into the user’s account when a transaction is made, allows smartphone payments, and has adjusted commissions.
PayPal has a share of more than 50% of the market in terms of online payments, but Stripe is also very popular, with a share slightly above 20%.
Technology giants such as Amazon, Apple or Google have their own online payment method, which is why many users begin to use them as these companies inspire a lot of confidence.
These payment methods from large companies are creating great competition for PayPal, as they offer many advantages when it comes to making online payments and are supported by renowned companies.
A payment method that has gained great popularity in recent times is Bizum. Online payment via mobile phone, regardless of the bank of the issuer and recipient of the transfer, is becoming the favourite of users and great competition for PayPal.
Transfers through this platform do not carry associated commissions and are very easy for the user to carry out, two fascinating advantages for all people who make purchases online.
This Mastercard digital wallet is an alternative to PayPal that is also available in Spain and that allows online payments to be grouped under a secure environment that guarantees the privacy and integrity of transaction data.
It has the great advantage of accepting other prepaid, debit or credit cards such as American Express and Visa.
Coinciding with the pandemic, online casino portals have experienced tremendous growth. The limitations on mobility and the commitment of these businesses to technology and security have triggered the number of players who use their services over the Internet.
Getting players to make their payments in a secure environment is one of the priorities of this type of business, and PayPal offers them that ideal environment where they can be confident and calm when making electronic transfers. For this reason, online casinos opt for PayPal as one of their main payment gateways to offer their players maximum security. Playing games like online roulette, slots or card games and being able to make payments using a secure method increases the number of casino users.
More and more casinos are obtaining their license to operate in Spain, and all of them include PayPal as one of their priority payment methods.
Despite the passage of time and the appearance of many online payment alternatives, PayPal continues to be a safe value; proof of this is the large number of marketplaces, virtual stores and online casinos that continue to trust PayPal.
The case of online casinos and their commitment to PayPal is a good example of this payment gateway’s great state of health that will continue to lead the economic transactions market in the coming years. In a type of business where security when paying is one of the main concerns of customers, PayPal is presented as a great alternative.
Also Read : Online Banking vs. Traditional Banking: Learn More About Online Banking
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