Payment processors are companies that are structured to handle the transaction from many channels. It is a third party selected by traders for handling their bank accounts. A payment processor handles the process of a transaction between seller and buyers. A payment processor evaluates the transition valid or proved and measures anti-frauds.
The payments industry is changing incredibly rapidly. Nowadays, hundreds of payment tools are available in the market that freelancers can use for projects payment. However, choosing an authentic and right gateway is incredibly necessary for getting budget, currency support and volume of transaction. After evaluating a lot of online payment processors, I would like to share some authentic and trustworthy payment processors that freelancers can use for project payments.
Payoneer is the best payment processor that freelancer can use for project payments. The Payoneer payment processor is perfect for international transactions. It is quite similar to PayPal. You can store, transfer and receive funds through the use of Payoneer. Payoneer is available more than 200 countries and it is an ideal tool for international transaction. It can handle your banking issues all around the world. By using it, you can receive your payment USD, GBP and EUR. Its prices are very lower as compared to PayPal. It gives you payment very fast and you can receive your money within two hours. However, it takes three to five days if you are transferring money from a local account. A con of Payoneer is that its ATM withdrawal charges are high.
WireTransfer is another payment processor that is very straightforward to use. By using it, you can move your funds from one bank to another account. You can use it for your project payment and its transaction fee are cheapest. Numbers of freelancers use it due to its international availability. Although, its international payment process fee is quite expensive yet it is authentic and approved. WireTransfer is a secure payment processor to transfer and receive your money. Along with that, it has a fast money transferring system. You can send and receive the money within a few hours. But WireTransfer is associated with high costs. Due to its high costs, clients don’t trust it.
Recommended by most of online businesses like dissertation writing services, Stripe is manually used to pay money for your projects. This payment process is also well-known for accepting payment from clients. Stripe is being used by countless small businessmen and it fulfills the needs of freelancers in their payment process. Additional advantage of the Stripe is the lowest fee payment fee. It has fee transaction options that you can select according to your wish. It will charge 1% conversion on the international transaction. It has two-day rolling payment schedules that are useful to receive payment daily. Its two-day rolling payment schedule is available in the United States as well as in Australia. It does not require a minimum amount for withdrawing funds. On the other side, its minimum amounts are very low. However, the downside of this payment processor is its limited availability. It is available just for 26 counties.
PayPal is one of the most outstanding online payment processors that freelancers can use for their project payments. It is the oldest and reliable payment processor to send and receive money online. It also fulfils all your needs for online business. Basically, PayPal was founded in 1998. PayPal is specializing in electronic money transfer. There are hundreds of organizations, freelancers and online stores that are using this payment processor for receiving and sending money. Popular freelancer platform is using it for their projects payment.
Currently, PayPal is the largest and reliable payment processor in all around the world. Approximately, PayPal has 244 million active users to receive payment for their clients and they are using the simple email address method. If you have an email account then you don’t need a PayPal account, because, you can send and receive money by email details. PayPal payment process is not limited to some counties; indeed, you can use it all around the world. Its payment transfer process works very fast and gives you detail in minutes.
Bonsai is an invoicing and bets payment processor for freelancers. As a freelancer, you can use it for contracts, time tracking accounts management and proposals. By using it, you can integrate with Stripe and PayPal accounts. It has many extra and outstanding features that you can use. Its transaction fee is also lower. You and your clients will be happy after using it. It offers you a free trial that you can use for getting information about its latest features.