There is no doubt that PayPal is the best online payments system in the world. It is founded by Elon Musk, Ken Howery, Luke Nosek, Max Levchin, Peter Thiel, Yu Pan & Russel Simmons in 1998. PayPal Revenue of 2018 is more than US$15.000 billion & PayPal used by more than 280 million users which clearly shows the PayPal popularity.
Why can’t Sri Lankan use PayPal?
Sri Lankan can use PayPal but only to send money. As an entrepreneur, you need facilities to receive money to PayPal also. Unfortunately, Sri Lankan can’t receive money to a Sri Lankan PayPal account according to PayPal rules.
Best Alternatives to PayPal in Sri Lanka
Here we will explain a few PayPal alternatives which can be used for Sri Lankan online businesses.
1. PayHere
PayHere is founded by Dhanika Perera in 2006. It is the best local online payment gateway in Sri Lanka. PayHere partnered with Sampath Bank to comply with regulations of the central bank of Sri Lanka.
There are 3 plans in PayHere.
| Basic Plan | Plus Plan | Premium Plan | |
| Fees | 3.90% | 2.99% | 2.90% |
| Service Fee | LKR 39 Per Payment | LKR 2990 Per Month | LKR 9900 Per Month |
| Monthly Payment Limit | Up to LKR 100,000 | Up to LKR 2,000,000 | Unlimited |
| Payment Charging Methods | One-time Payments | One-time Payments & Recurring Billing | One-time Payments & Recurring Billing & Automated Charging |
| Support | General Support | General Support & Technical Support | General Support & Technical Support & Dedicated Account Manager |
You need a business registration and Sampath bank account to apply to PayHere. Following business types are supported.
- Sole Proprietorship
- Partnership
- Private Limited Company
- Clubs & Societies
PayHere is supported for following currency types.
- LKR
- USD
- EUR
- AUD
- GBP
PayHere has ready-made plugin for following shopping cart systems.
- WooCommerce: WooCommerce is the most popular open-source eCommerce solution built on WordPress.
- Magento: Magento is used to run enterprise level eCommerce sites.
- OpenCart: OpenCart is an open-source PHP-based online e-commerce solution.
- Shopify: Shopify is a cloud-based popular eCommerce solution.
- WHMCS: WHMCS is the most popular web hosting management and billing software.
2. Stripe Atlas
Stripe Atlas is a service started by Stripe. This service allows anyone in the world to open a U.S. bank account without visiting the U.S. They removing you from all the hard work like lengthy paperwork, bank visits, legal complexity, and numerous fees. You need to pay $500 as setup fee for that, but it totally worth especially countries which doesn’t fully support for PayPal. You can check the all service from here.
3. 2CheckOut
2Checkout also very popular online payment processing company, but they are receiving a lot of bad reviews also.2checkout. It supports more than 80 currencies and ready-made plugins(some are created by third-party companies) available for almost all shopping cart systems.
Conclusion
The bitter truth is, even there are a lot of PayPal alternatives, PayPal is the best for many requirements.
But just try the above services because always something is better than nothing. We have used PayHere for many of our client projects and we can recommend them even some features are not up to standard.
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