What are PayPal alternatives in Russia?

10 May 2023

With the current situation, sending money to Russia is difficult. Some payment companies, such as PayPal, Visa, and Mastercard, are cutting off Russia.

However, there are several PayPal alternatives that allow you to send and receive money over the internet.

Here is PayPal Alternative Transfer To Russia

TransferWise

Individuals and corporations can now transfer funds more simply than ever before.

TransferWise, a UK-based internet payment gateway, was created in 2011. Customers can contact banks in more than 30 countries. Bank-to-bank transfers often have lower fees than traditional financial institutions such as banks and money transfer businesses.

The amount and currency utilized determine the cost. Transfers in US dollars and several other currencies, including the Philippine peso, will incur a 1% tax. However, the majority of currencies are subject to a 0.5 percent tax.

Payoneer

A payment service provider comparable to PayPal and popular among freelancers has also changed its operations in Russia. In a community post, the company stated that it is not accepting new customers anymore, and Russian customers can still withdraw their funds to banks that are not under sanctions. However, due to the United States, the United Kingdom, and the European Union’s continued expansion of sanctions, the list of non-sanctioned banks may increase.

Skrill

Wire transfers and Internet payments are the most convenient means to send and receive money.

Skrill is a popular online money transfer service since it is speedy and safe. Since its launch in 2001, users have been able to use the app to pay for goods and services on various well-known websites.

Skrill’s global reach allows most people to access its services. However, their prices are higher than those of their competitors. If you cannot utilize other payment transfer services due to unavailability in your country, Skrill is an excellent alternative to consider.

Stripe

Stripe is not another perfect example of PayPal’s alternative to sending money to Russia. Ideal for businesses that need a simple yet flexible application programming interface (API).

Stripe is a particularly popular PayPal alternative for online businesses.

The payment solution is a “developer-first” company because it believes the payment problem is “rooted in code, not finance.”

As a result, simple APIs for services simplify integration and customization. As a result, it is not surprising that some of the world’s most popular e-commerce platforms, such as Shopify, have excellent Stripe connectivity. Shopify payment connectors are detailed here.

Read more:

Types of payment gateway.

Benefits of online payment gateway.

Online payment gateway list in the world.