PayPal review 2026: Features, fees & more
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Take a look at the PayPal review covering business payments, fees, international transfers, and how it compares with WorldFirst and the World Account.
Key takeaways
- PayPal is a global digital payment provider that helps businesses accept online payments from customers worldwide
- Businesses can accept payments through PayPal balances, payments links, recurring payment tools Apple Pay, debit cards credit cards and more
- PayPal does not offer a multi-currency account in South Asia. In India, receiving international payments typically costs 4.40% + a fixed fee, plus a 3% FX markup1
- WorldFirst is an alternative for businesses looking for multi-currency support
PayPal is a digital payment provider that offers accounts for personal, small business and enterprise usage.5
Users can accept online payments, send invoices and receive payments from international customers with PayPal.5
This review covers PayPal’s business account features, fees and payment tools, and compares them with WorldFirst. It also explains how PayPal handles international payments, currency conversion and withdrawals for freelancers and small businesses.
What is PayPal?
PayPal is a digital payment platform that allows businesses and individuals to receive payments online.4 Founded in 1998, it is commonly used for e-commerce payments, freelancer payments and online business transactions.7
Note that sending and holding funds is currently not possible with a Paypal account in South Asia.
In India, PayPal offers personal and business accounts for receiving payments.4 In Bangladesh and Pakistan, PayPal is currently not operational.
Quick look: Pros and cons of PayPal
| Pros | Cons |
|---|---|
|
|
PayPal fees: The breakdown
Take a look at the PayPal fees for using PayPal:
| Fee type | PayPal1 |
|---|---|
| Monthly fee | Zero |
| Multi-currency account | Not supported |
| Receiving funds | 4.40% + fixed fee |
| Holding funds in multiple currencies | Not supported |
| Sending payments to PayPal accounts | Not supported |
| Sending payments to other accounts | Not supported |
| Currency conversion | 3% above the base exchange rate |
| Withdrawal to local bank account | Same as above |
| Business card | Not supported |
*Fees checked in May 2026
How does PayPal work?
Freelancers and businesses can open a PayPal Business account online by submitting identity and business verification details.10 Once approved, users can receive payments through PayPal checkout, invoices, recurring billing and payment links.8
On the other side, the client or customers can pay using PayPal balances, linked bank accounts, debit cards or credit cards.2 Funds are first received into the PayPal account and auto-transferred to the user’s local bank account.6
Features of PayPal
Accepting payments online
PayPal India allows businesses to accept payments online through its Small Business/Enterprise account.4 Customers can pay using PayPal, Apple Pay, debit cards and credit cards.2
Integrations
Currency handling
PayPal does not offer a multi-currency account in the South Asian markets. Hence, businesses cannot keep balances in foreign currencies or choose when to convert funds.
→ If you want to open a multi-currency account, explore PayPal alternatives for freelancers and businesses.
How to open a PayPal business account
- Create a PayPal Business account: Visit PayPal and choose the Business account option.
- Verify your details: Provide personal and business information for verification and link to your e-commerce platforms.
- Link a local bank account: Add a local bank account where withdrawals will be received.
- Set up payment tools: Businesses can then activate checkout9, invoicing or payment links to start accepting payments online.
The PayPal alternative: WorldFirst
WorldFirst is a global payments provider that helps businesses manage cross-border payments through its World Account. It allows businesses to open local currency accounts and hold funds in 15+ currencies. Businesses can convert funds when they choose instead of automatic conversion on receipt.
→ If you want a head on comparison between both platforms, read our WorldFirst vs PayPal review.
Features of the World Account
Multi-currency business payment card
WorldFirst offers the World Card, a business virtual card powered by Mastercard, linked to the World Account. Businesses can access up to 20 virtual cards at no extra cost.
The card supports spending in 150+ currencies. Businesses paying in supported currencies with sufficient balance can also avoid foreign exchange fees.
Marketplace integration
WorldFirst supports marketplace collections through local currency receiving accounts. It has integrations with 130+ marketplaces. Businesses selling on platforms like Amazon, Etsy and Shopify can receive payouts in marketplace currencies and manage them in one account.
Payments to China
WorldFirst also supports supplier payments in CNH through World Pay, the authorised international payment provider for Chinese businesses. Businesses can pay suppliers directly from the World Account without opening a Chinese bank account.
Free incoming payments
WorldFirst does not charge setup or monthly account fees, and businesses can receive international payments without incoming transfer fees.
Multi-currency accounts
Businesses can access multiple local currency accounts and hold currencies in major currencies like the USD, EUR, CNH, GBP and more, through one World Account setup instead of applying separately for each currency account. This simplifies international payment operations.
Head-to-head fee comparison table
| Fee type | PayPal | WorldFirst |
|---|---|---|
| Monthly fee | Zero1 | Zero |
| Opening a multi-currency account | Not offered | Zero |
| Receiving funds | 4.40% + fixed fee1 | Zero |
| Holding funds in multiple currencies | Not supported | Zero |
| Sending payments to other users in the same network | Not supported | Free and instant to other WorldFirst users |
| Sending payments to other accounts | Not supported | Standard payment fee for Pakistan and Bangladesh is 1.5% |
| Currency conversion | 3% above base exchange rate | All currencies: 1.5% |
| 1688 payments | Not supported | Up to 0.8% |
| Business card | Not available | Free for up to 20 cards |
*Fees checked in May 2026
FAQ
How do I open a PayPal business account?
You can open a PayPal Business account online by registering, submitting verification details and linking a local bank account.
Does PayPal charge fees for business payments?
Can businesses hold multiple currencies in PayPal India?
Does PayPal support recurring payments?
What are some alternatives to PayPal?
Businesses can also explore providers like WorldFirst, that offers multi-currency accounts in India, Pakistan and Bangladesh.
Sources:
- https://www.paypal.com/in/business/paypal-business-fees
- https://www.paypal.com/in/business/platforms-and-marketplaces
- https://www.paypal.com/in/cshelp/article/how-do-i-integrate-paypal-checkout-with-woocommerce-subscriptions-ts2101
- https://www.paypal.com/in/home?tab=business
- https://www.paypal.com
- https://www.paypal.com/in/cshelp/article/how-do-i-transfer-funds-to-my-bank-account-help394
- https://about.pypl.com/who-we-are/history-and-facts/default.aspx
- https://www.paypal.com/in/business/accept-payments/payment-links
- https://www.paypal.com/in/business/accept-payments/checkout/recurring
- https://www.paypal.com/in/business
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
Author
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