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PayPal vs Mercury
Only PayPal · 61
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Pick where your business is registered. Add up to two more providers.
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For a business registered in
Onboards businesses in United States
PayPal
AvailableMercury
AvailableAccept payments
PayPal
PayPal wallet, cards and (in the US) Venmo at checkout, with buyer and seller protection.Mercury
Invoices your customers pay by card or ACH debit, also available through the API.Pay people abroad
PayPal
Mass payouts to PayPal and Venmo accounts worldwide. Bank payouts go through Hyperwallet.Mercury
Domestic ACH and wires, international wires, and API payments to saved recipients.Multi-currency account
PayPal
Hold balances in 20+ currencies inside a PayPal business account.Mercury
US dollar checking and savings with FDIC insurance through partner banks, plus Treasury for idle cash.Business cards
PayPal
PayPal Business Debit Mastercard.Mercury
Debit cards and the IO corporate credit card with spend controls.Stablecoins
PayPal
US businesses can accept crypto through Pay with Crypto and hold PayPal USD (PYUSD).Mercury
Not offeredYield on idle cash
PayPal
US businesses holding PayPal USD (PYUSD) in their PayPal balance can opt in to rewards of around 3.7–4% a year, funded from the stablecoin’s reserve interest. Not available in New York.Mercury
Mercury Treasury invests idle cash in government money market funds and, since August 2026, an ultra-short bond fund. It is not FDIC insured, may lose value, and carries a 0.15–0.60% fee.Yield on idle cash
A return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is.
Where the return comes from
PayPal
Moderate riskStablecoin rewardsMercury
Low risk, not insuredMoney market fundModerate riskShort-term bond fundIs the money protected?
PayPal
Stablecoins are not bank deposits and are not insured. The reward is a promotion funded by the issuer’s reserve interest; it can be changed or stopped, and US law bars issuers from paying interest directly.Mercury
Money market fund: Not a deposit and not insured. The fund holds short-term government debt and aims to keep its value stable, but that is not guaranteed. Broker protection (SIPC in the US) covers the broker failing, not investment losses.Short-term bond fund: Not insured, and the price moves every day, so you can get back less than you put in.Does the rate change?
PayPal
Set by the provider; tends to follow US Treasury rates.Last seen: Around 3.7–4% a year (2026)Mercury
Floats daily with central bank rates, so it falls when rates are cut. Moves with interest rates and bond prices.Last seen: Up to about 3.6% net, for the largest balances (May 2026)Platform & marketplace
Run payments for other businesses: sign them up, take a cut, pay them out.
Sub-accounts for your users
PayPal
YesPayPal Complete Payments onboards sellers into their own PayPal business accounts. Braintree Marketplace creates sub-merchants, but only for US businesses.Mercury
NoMercury’s API manages your own accounts; there is no product for creating accounts for your users.Split payments and platform fees
PayPal
YesPlatform fees on seller payments; Braintree Marketplace splits each transaction and can hold funds in escrow.Mercury
NoNot a payment processor.Embeddable UI
PayPal
PartlySeller onboarding is a PayPal-hosted flow.Mercury
NoNo embeddable components.Pay out to your users
PayPal
YesPayouts API to PayPal and Venmo accounts; Hyperwallet for bank, card and cash payouts.Mercury
PartlyAPI payments to saved recipients by ACH or wire. Fine for paying vendors, not built for paying a platform’s users at scale.Embedded finance for your users
Give your users financial products under your brand.
Accounts that hold money
PayPal
NoSellers hold their own PayPal accounts; platforms cannot create accounts that hold money for users.Mercury
NoNot offered to platforms.Cards for your users
PayPal
NoNo card issuing for platform users.Mercury
NoCards are for your own team.Financing for your users
PayPal
NoPayPal’s business loans are offered directly by PayPal, not through platforms.Mercury
NoNot offered to platforms.Consumer apps
Build for individuals, not just businesses, the way Bridge allows.
End users can be individuals
PayPal
PartlyYou can pay individuals’ PayPal and Venmo accounts, but not build wallets or accounts for your own users.Mercury
NoMercury Personal is Mercury’s own consumer banking; you cannot build consumer products on it.Consumer wallets or accounts
PayPal
NoConsumers use PayPal’s own wallet.Mercury
NoNot offered to platforms.Consumer cards
PayPal
NoNot offered to platforms.Mercury
NoNot offered to platforms.Stablecoins
Dollar-backed tokens as a payment and treasury rail.
Accept stablecoins
PayPal
PartlyPay with Crypto lets US merchants accept crypto, settled in dollars.Mercury
NoNo stablecoin product found in public materials.Hold stablecoin balances
PayPal
PartlyUS accounts can hold PayPal USD (PYUSD).Mercury
NoNo stablecoin product found in public materials.Pay out in stablecoins
PayPal
Not confirmedNot confirmed for platform payouts.Mercury
NoNo stablecoin product found in public materials.Issue your own stablecoin
PayPal
NoPYUSD is PayPal’s own coin; you cannot issue one.Mercury
NoNo stablecoin product found in public materials.Regulatory risk in United States
PayPal
Low riskMercury
No stablecoin productsAI agents
Build with AI tools, and let AI agents shop and pay.
Official MCP server
PayPal
YesAgent tooling for its APIs, and backing WebMCP so agents can use merchants’ existing storefronts.Mercury
YesHosted MCP server in beta: AI assistants can read balances, transactions, cards and recipients, with OAuth sign-in.Checkout for AI agents
PayPal
YesAdopted the Agentic Commerce Protocol for Instant Checkout in ChatGPT, rolling out in 2026, so PayPal merchants can sell in ChatGPT without their own integration.Mercury
NoDoes not process checkout payments, so there is nothing for an agent to check out with.Cards for AI agents
PayPal
Not confirmedNot found in public materials.Mercury
Not confirmedNot found in public materials.Working with them
How easy it is to get started.
Self-serve signup
PayPal
YesSign up online.Mercury
YesApply online.Published pricing
PayPal
YesMerchant fees are published by country.Mercury
YesFree core plan; paid plans are published.Public API and sandbox
PayPal
YesPublic REST API and sandbox.Mercury
YesREST API for accounts, transactions, payments and invoicing, with webhooks and OAuth for partner apps.Coming soon
Announced but not launched. These are plans, not products you can sign up for today: timing often slips, and some never ship.
Announced, not yet live
PayPal
Mercury
In short
Countries onboarded
PayPal
59 of 170Mercury
1 of 170Designed for
PayPal
Selling to customers who already pay with PayPal, including cross-border buyers.Mercury
US startups that want a fast, API-friendly bank account, including founders based outside the US.Limitations
PayPal
PayPal’s terms allow it to hold payments or set reserves, for example on new accounts or after a sudden rise in sales.Mercury
Only for US-registered companies, and not designed for building products on top of.| PayPal Payment processor | Mercury Business banking | |
|---|---|---|
| Onboards businesses in United States | Available | Available |
| Accept payments | PayPal wallet, cards and (in the US) Venmo at checkout, with buyer and seller protection. | Invoices your customers pay by card or ACH debit, also available through the API. |
| Pay people abroad | Mass payouts to PayPal and Venmo accounts worldwide. Bank payouts go through Hyperwallet. | Domestic ACH and wires, international wires, and API payments to saved recipients. |
| Multi-currency account | Hold balances in 20+ currencies inside a PayPal business account. | US dollar checking and savings with FDIC insurance through partner banks, plus Treasury for idle cash. |
| Business cards | PayPal Business Debit Mastercard. | Debit cards and the IO corporate credit card with spend controls. |
| Stablecoins | US businesses can accept crypto through Pay with Crypto and hold PayPal USD (PYUSD). | Not offered |
| Yield on idle cash | US businesses holding PayPal USD (PYUSD) in their PayPal balance can opt in to rewards of around 3.7–4% a year, funded from the stablecoin’s reserve interest. Not available in New York. | Mercury Treasury invests idle cash in government money market funds and, since August 2026, an ultra-short bond fund. It is not FDIC insured, may lose value, and carries a 0.15–0.60% fee. |
| Yield on idle cashA return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is. | ||
| Where the return comes from | Moderate riskStablecoin rewards | Low risk, not insuredMoney market fundModerate riskShort-term bond fund |
| Is the money protected? | Stablecoins are not bank deposits and are not insured. The reward is a promotion funded by the issuer’s reserve interest; it can be changed or stopped, and US law bars issuers from paying interest directly. | Money market fund: Not a deposit and not insured. The fund holds short-term government debt and aims to keep its value stable, but that is not guaranteed. Broker protection (SIPC in the US) covers the broker failing, not investment losses.Short-term bond fund: Not insured, and the price moves every day, so you can get back less than you put in. |
| Does the rate change? | Set by the provider; tends to follow US Treasury rates.Last seen: Around 3.7–4% a year (2026) | Floats daily with central bank rates, so it falls when rates are cut. Moves with interest rates and bond prices.Last seen: Up to about 3.6% net, for the largest balances (May 2026) |
| Platform & marketplaceRun payments for other businesses: sign them up, take a cut, pay them out. | ||
| Sub-accounts for your users | YesPayPal Complete Payments onboards sellers into their own PayPal business accounts. Braintree Marketplace creates sub-merchants, but only for US businesses. | NoMercury’s API manages your own accounts; there is no product for creating accounts for your users. |
| Split payments and platform fees | YesPlatform fees on seller payments; Braintree Marketplace splits each transaction and can hold funds in escrow. | NoNot a payment processor. |
| Embeddable UI | PartlySeller onboarding is a PayPal-hosted flow. | NoNo embeddable components. |
| Pay out to your users | YesPayouts API to PayPal and Venmo accounts; Hyperwallet for bank, card and cash payouts. | PartlyAPI payments to saved recipients by ACH or wire. Fine for paying vendors, not built for paying a platform’s users at scale. |
| Embedded finance for your usersGive your users financial products under your brand. | ||
| Accounts that hold money | NoSellers hold their own PayPal accounts; platforms cannot create accounts that hold money for users. | NoNot offered to platforms. |
| Cards for your users | NoNo card issuing for platform users. | NoCards are for your own team. |
| Financing for your users | NoPayPal’s business loans are offered directly by PayPal, not through platforms. | NoNot offered to platforms. |
| Consumer appsBuild for individuals, not just businesses, the way Bridge allows. | ||
| End users can be individuals | PartlyYou can pay individuals’ PayPal and Venmo accounts, but not build wallets or accounts for your own users. | NoMercury Personal is Mercury’s own consumer banking; you cannot build consumer products on it. |
| Consumer wallets or accounts | NoConsumers use PayPal’s own wallet. | NoNot offered to platforms. |
| Consumer cards | NoNot offered to platforms. | NoNot offered to platforms. |
| StablecoinsDollar-backed tokens as a payment and treasury rail. | ||
| Accept stablecoins | PartlyPay with Crypto lets US merchants accept crypto, settled in dollars. | NoNo stablecoin product found in public materials. |
| Hold stablecoin balances | PartlyUS accounts can hold PayPal USD (PYUSD). | NoNo stablecoin product found in public materials. |
| Pay out in stablecoins | Not confirmedNot confirmed for platform payouts. | NoNo stablecoin product found in public materials. |
| Issue your own stablecoin | NoPYUSD is PayPal’s own coin; you cannot issue one. | NoNo stablecoin product found in public materials. |
| Regulatory risk in United States | Low risk | No stablecoin products |
| AI agentsBuild with AI tools, and let AI agents shop and pay. | ||
| Official MCP server | YesAgent tooling for its APIs, and backing WebMCP so agents can use merchants’ existing storefronts. | YesHosted MCP server in beta: AI assistants can read balances, transactions, cards and recipients, with OAuth sign-in. |
| Checkout for AI agents | YesAdopted the Agentic Commerce Protocol for Instant Checkout in ChatGPT, rolling out in 2026, so PayPal merchants can sell in ChatGPT without their own integration. | NoDoes not process checkout payments, so there is nothing for an agent to check out with. |
| Cards for AI agents | Not confirmedNot found in public materials. | Not confirmedNot found in public materials. |
| Working with themHow easy it is to get started. | ||
| Self-serve signup | YesSign up online. | YesApply online. |
| Published pricing | YesMerchant fees are published by country. | YesFree core plan; paid plans are published. |
| Public API and sandbox | YesPublic REST API and sandbox. | YesREST API for accounts, transactions, payments and invoicing, with webhooks and OAuth for partner apps. |
| Coming soonAnnounced but not launched. These are plans, not products you can sign up for today: timing often slips, and some never ship. | ||
| Announced, not yet live | Awaiting approvalPayPal Bank in the USNo date given · Includes United States Details and sources → | Awaiting approvalMercury Bank, N.A.No date given · Includes United States Details and sources → |
| In short | ||
| Countries onboarded | 59 of 170 | 1 of 170 |
| Designed for | Selling to customers who already pay with PayPal, including cross-border buyers. | US startups that want a fast, API-friendly bank account, including founders based outside the US. |
| Limitations | PayPal’s terms allow it to hold payments or set reserves, for example on new accounts or after a sudden rise in sales. | Only for US-registered companies, and not designed for building products on top of. |
Common questions
Is PayPal or Mercury available in more countries?
PayPal. Of the 170 countries we track, PayPal onboards businesses in 59 (and 3 more with limits) and Mercury in 1. Both serve businesses in 1. Only PayPal: Canada, Mexico, Brazil, Argentina, Colombia, Chile, Peru, United Kingdom, Ireland, Germany, France, Netherlands and 49 more.
What do PayPal and Mercury offer?
Accept payments: PayPal yes, Mercury yes. Pay people abroad: PayPal yes, Mercury yes. Multi-currency account: PayPal yes, Mercury yes. Business cards: PayPal yes, Mercury yes. Stablecoins: PayPal yes, Mercury no. Yield on idle cash: PayPal yes, Mercury yes.
How do PayPal and Mercury differ for platforms and embedded finance?
Sub-accounts for your users: PayPal yes, Mercury no. Split payments and platform fees: PayPal yes, Mercury no. Embeddable UI: PayPal partly, Mercury no. Pay out to your users: PayPal yes, Mercury partly. End users can be individuals: PayPal partly, Mercury no. Accept stablecoins: PayPal partly, Mercury no. Hold stablecoin balances: PayPal partly, Mercury no. Pay out in stablecoins: PayPal not confirmed, Mercury no. Checkout for AI agents: PayPal yes, Mercury no.
Who is PayPal designed for?
Selling to customers who already pay with PayPal, including cross-border buyers. Limitations: PayPal’s terms allow it to hold payments or set reserves, for example on new accounts or after a sudden rise in sales.
Who is Mercury designed for?
US startups that want a fast, API-friendly bank account, including founders based outside the US. Limitations: Only for US-registered companies, and not designed for building products on top of.
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