PayTrace is a payment gateway that supports businesses with a web-based credit card, check, and gift card payment processing software solution. The aim of PyTrace is to help businesses in lowering all costs that are relevant to receiving any type of payment. With a growing global economy and with global payments becoming more and more accessible, having a reliable company that can handle all of the legislation regarding all types of payments comes in handy! PayTrace has many competitors though, the most suitable one being PaySimple.

Top 9 Coinbase PayTrace alternatives and competitors

  1. PayPal – Offered on websites of well-known merchants
  2. GoCardless – Recurring payment collection
  3. Payoneer – Universal platform
  4. Stripe Connect – Integrate platforms into software platforms
  5. Apple Pay for merchants – No physical cards needed
  6. Authorize.net – Supports small businesses in accepting credit cards and eCheck payments
  7. BlueSnap – Globally minded
  8. Digital River myCommerce – All-in-one SaaS platform
  9. PaySimple – Simplifies billing; Most Suitable competitor.

1. PayPal – Offered on websites of well-known merchants

Pricing:

  • No sign-up fee

PayPal Credit is an online ‘credit card’ that gives customers a credit limit that is attached to their PayPal account. This can then be used for online purchases and users pay the money back in installments.

Key features:

  • Buy now pay later
  • Pay with rewards and QR codes
  • Check-out with crypto
  • Send and request money
  • Donate and raise funds
  • Savings and goals
  • Add cash
  • Set up direct deposit

Reasons to buy:

  • Secure means of sending payment
  • Diverse financing options
  • Extensive online and in-person payment solutions
  • Additional merchant support features

Reasons to avoid:

  • A popular target for phishing and scams
  • Poor customer service
  • Digital purchases aren’t protected
  • Disputes can delay refunds

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2. GoCardless – Recurring payment collection

Pricing:

  • No setup costs
  • No hidden fees
  • 1% + 0.20 euros per domestic transaction
  • 2% + 0.20 euros per international transaction
  • Standard membership: no fee
  • Plus membership: 50 euros per month
  • Pro membership: 250 euros per month

With GoCardless, businesses can collect payments from customers from around the world. This service is a good choice for subscriptions, invoicing, and installments. Business owners can do all of this off of one dashboard that is very user-friendly.

Key features:

  • Pay per transaction
  • Access to international payments
  • Automatically collect one-off and recurring payments
  • Collect fixed and variable payment amounts
  • Set date and frequency of payment collection

Reasons to buy:

  • Excellent in big business management
  • Customer service is good
  • Onboarding and implementation process
  • Website is multilingual

Reasons to avoid:

  • The pricing structure varies and is specific to each user
  • No data is available for customers who cancel their payments

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3. Payoneer – Universal platform

Pricing:

  • $1.50 fee for domestic funds
  • 2% fee for non-local currency
  • 0.5% fee per transfer
  • $29.95 every 12 months
  • No termination fees

With Payoneer, users can access a variety of online features that are linked with finance and money. Users can receive funds, manage a digital business, make international payments and access capital.

Key features:

  • Recurring billing
  • Accepts credit cards and debit cards
  • Real-time Payments
  • Instant payment
  • Reporting/Dashboards
  • Payout Time
  • Dispute Resolution
  • Manual Payment entry
  • Fraud protection tools
  • Two-factor Authentication
  • Performance and reliability

Reasons to buy:

  • Debit card and credit card services available
  • Faster processing of payments
  • Cross border payments
  • Escrow service
  • Low fees

Reasons to avoid:

  • Big service charges on transactions
  • Customer service
  • Automated payment initiation from web forms

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4. Stripe Connect – Integrate payments into software platforms

Pricing:

  • Standard: Free
  • Express: £2 per monthly active account and 0.25% +10p per payout sent
  • Custom: £2 per monthly active account and 0.25% + 10p per payout sent

Stripe Connect is a tool that can be used to integrate payments into software platforms or marketplaces. It is also an option that gets users up and running easily. Users can easily manage their platforms as Stripe keeps a full record of all transactions.

Key features:

  • Onboarding and verification
  • Global payments
  • Revenue streams
  • Global payment routing and payouts
  • Tools for platforms and marketplaces
  • Tools for users

Reasons to buy:

  • Works with businesses to offer the best rate
  • Easy to integrate with most websites
  • Easy to use
  • Payments easily processed

Reasons to avoid:

  • Error messages are unclear
  • Reconciliation with accounting software
  • Payout options are not as flexible

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5. Apple Pay for merchants – No physical cards needed

Pricing:

  • Free to use

With this simple way to make and receive payments without the use of cards, merchants can now accept payments in a more secure and private way. Apple pay is accepted on millions of websites and shoppers would be driven to stores that use Apple Pay as check-out is faster.

Key features:

  • Contactless payments
  • Second-factor authentication
  • Merchant cannot know card information

Reasons to buy:

  • Security
  • Integration
  • No need to carry cards around
  • Gives cash back on purchases
  • Can be disabled if the device is lost
  • Promote faster check-outs for customers
  • Competitive edge

Reasons to avoid:

  • No cross-platform support
  • Cannot provide receipts
  • No monthly statements
  • Does not cover all bank cards

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6. Authorize.net – Supports small businesses in accepting credit cards and eCheck payments

Pricing:

  • All-in-one Option: $25 and 2.9% + $0.30 monthly gateway/per transaction
  • Payment Gateway Only: $25 monthly gateway

Authorize.net is a company that has been a leading provider in payment gateway services as they manage the submission of billions of transactions. Authorize.net supports businesses in accepting payments online, in person or over the phone.

Key features:

  • Anti-fraud management
  • Automated receipts
  • Integration
  • Customer information manager
  • Different payment types
  • Recurring payments
  • Account updater
  • Digital invoicing
  • Simple checkout

Reasons to buy:

  • Announces payments quickly
  • Alerts on suspicious transactions
  • International circuit
  • Quick capture process
  • Quick data analytics generation
  • Easy to use

Reasons to avoid:

  • Highly-priced
  • A separate merchant account is required
  • Recurring payments are difficult to set up

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7. BlueSnap – Globally minded

Pricing:

  • 1.4% + £0.20 per successful card transaction

BlueSnap, much like Authorize.net, helps businesses accept payments, however, they support businesses in receiving global payments too. The aim of BlueSnap is to increase sales and reduce costs.

Key features:

  • One account
  • Easy integration
  • Global reach
  • Fraud prevention
  • Reconciliation and reporting
  • Global support

Reasons to buy:

  • Services automation
  • Reconciliation to cash
  • Customization options
  • Consistent timing
  • Good information sharing
  • Automated recurring billing for subscriptions

Reasons to avoid:

  • Unclear implementation requirements and direction
  • Requires more documentation

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8. Digital River MyCommerce – All-in-one SaaS commerce platform

Pricing:

  • Provides custom pricing

Digital River is a cloud eCommerce platform that supports businesses in being able to expand quickly and sell software, services, and digital products. Digital River supports customers with global payments, fraud and data protection and global tax compliance.

Key features:

  • Payment processing
  • Cross-browser support
  • Performance and reliability
  • Storefront design tools
  • B2B Ecommerce platforms
  • Cloud eCommerce platform

Reasons to buy:

  • Subscription management and billing
  • Global payments
  • Fraud and data protection
  • Global tax and compliance
  • Smart form fills
  • Drive optimal conversion rates

Reasons to avoid:

  • Customer support
  • Deployment of third-party tracking code is complicated
  • The Control panel is difficult to use

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9. PaySimple – Simplifies billing

Pricing:

  • $59.95 per month

PaySimple helps businesses accept payments on a 24/7 basis. Businesses can also set up recurring billing which allows for business management via mobile.

Key features:

  • Invoicing
  • Recurring bills
  • Hosted web payment forms
  • Reporting/analytics
  • Mobile payments
  • ACH payment processing

Reasons to buy:

  • Reports can be produced quickly
  • Simple navigation
  • Live help

Reasons to avoid:

  • Cannot merge contacts
  • Cost is high
  • Cannot customize fields for individual transactions

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References:

  • https://www.thesmbguide.com
  • https://ebizcharge.com
  • https://www.softwareadvice.co.uk
  • https://www.capterra.co.uk
  • https://www.digitalriver.com
  • https://www.trustradius.com
  • https://home.bluesnap.com
  • https://www.authorize.net
  • https://www.webfx.com
  • https://appleinsider.com
  • https://stripe.com
  • https://www.g2.com