Payoneer offers a all-in-one payment solution that allows freelancers, online sellers and small/medium businesses to receive funds from customers from all over the world at low cost, fast and in a reliable manner. Payoneer is a well-established firm, regulated by US, UK and EU financial authorities. They offer practical international & local payment solutions, also in countries that often present payment or withdrawal issues.
Payoneer offers several payment solutions such as virtual collection accounts either in USD, EUR, JPY or GBP (which is equivalent of having a local bank account), in-network transfers which are 100% free of charge (Payoneer to Payoneer account), direct payments from customers via Credit Card or eCheck, and also via marketplaces & networks such as Wish, Fiverr, UpWork, Airbnb, Amazon or any of the 3,500+ companies who pay using Payoneer services. Mostly using Payoneer will result in much lower fees compared to existing main alternatives like PayPal or Western Union.
Freelancers, online sellers, affiliate marketers, small or medium businesses can easily receive funds into their Payoneer account from multiple other payments platforms and easily withdraw those funds directly from their local bank account or using Payoneer Debit Card (MasterCard).
Founded in 2005 and based in New York, Payoneer is venture-backed, profitable and ranked in the top 100 of Inc. 5000’s Financial Services companies. Payoneer has quickly grown into an industry leader in regards to international money transfers. Its services cover the needs of just about every business entity aiming to send or to receive funds in over 200 countries worldwide. The solutions offered by Payoneer are all compliant, secure, regulated, cost-effective and simple.
Their range of payment solutions cover virtual collection accounts in main currencies such as USD, EUR, GBP, JPY and more, MasterCard prepaid cards, direct payment through over 3500 marketplaces & networks, credit card or eCheck payment to local bank accounts and local currency.
So for example you are an online seller based in India, or maybe a web designer working out of Pakistan, and you are working for companies and online operations based in the US or in Europe or anywhere else in the world, who may prefer to pay you through credit card directly to your local bank account, or maybe even through a Payoneer account.
Payoneer offers a number of solutions which will make it extremely easy for you to receive your funds and for your customer to send you your earnings.
Ways of receiving funds with Payoneer
Bottom line, your Payoneer account acts as a sort of nerve center where all the other payment solutions your clients may prefer, are linked. You will be able to manage a PayPal account, a Skrill account, as well as an EU and a US Payment Service bank account, from your Payoneer account and eventually withdraw your funds through your Payoneer debit card or through your local bank account in local currency (please note that while Payoneer does act like a full-fledged bank account, the Global Payment Service’s virtual local account cannot be charged by the user).
Ways to use or withdraw your Payoneer money
Once the money lands in your Payoneer account, you can:
It’s convenient. Small or medium online businesses, freelancers, affiliate marketers or online sellers benefit from the use of a single, unified interface for the management of their financial moves, regardless of location, local currency, currency of payment, etc. Suppose you are a web developer from Pakistan and you work for three EU-based companies and a US one. One of the EU companies has a Payoneer account set up, another pays through local bank transfer only, while the third one will only pay you through PayPal. The US company pays exclusively through Credit Card. Using Payoneer’s Global Payment Service, you’ll be able to receive and withdraw all your funds from one place: your Payoneer account.
It’s simple. Payoneer allows its users to send out payment requests through their billing service, effectively fulfilling the needs of those making the payments to be invoiced for the services they’re paying for. For instance, a freelancer from India will be able to receive funds from the US, the EU, from various platforms like PayPal and Skrill, directly into his local bank account.
It’s regulated. Payoneer is registered as a Money Services Business (MSB) and is regulated by the Financial Conduct Authority (FCA) in UK and the Financial Crimes Enforcement Network (FinCEN), in USA. In addition, Payoneer obtained the proper State-level Money Transmitter licensing, in every State where it is required, and is obtaining additional escrow licensing in California as required. Payoneer EU is a regulated Electronic Money Institution that has passported its license across the entire EU and is a Principal member with MasterCard® EU. As a U.S. entity, Payoneer complies with OFAC, and the requirements of the Bank Secrecy Act (BSA). Payoneer is also an Online Payment Gateway Service Provider in India, has a Money Service Operator License in Hong Kong, and is a Funds Transfer Provider In Japan. Payoneer is PCI DSS Level 1 compliant.
The Payoneer customer support can be reached through email, live chat, and phone (12/5). The service also features a useful FAQ section as well as community forums and a special service for the reporting of lost or stolen cards.
Overall we found that as an online payment platform, Payoneer are one of the best and give an all-in-one payment gateway for their users. Their low fees and fully scalable and customizable payment solutions make them genuinely worthy for freelancers and affiliate marketers worldwide. With Payoneer, you can request, receive and withdraw funds quickly and hassle free.