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Payoneer – Best Alternative of PayPal

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Indian market is going to change like nothing else, thanks to GST. GST as we all now stands for Goods and Service Tax which will be implemented in India from 1st July 2017. It is a huge step taken by the Indian Government as GST will put an end to all the indirect taxes which are levied on Indian consumers. For online transactions, the Government is increasing the tax by one percent which means online transactions will also be affected marginally by the introduction of GST.

When it comes to online transactions, transactions from abroad are what get taxed the most. And when you are a content writer, you know the pain of the taxes and the conversion charges that are being deducted from your hard-earned money. PayPal is one of the most trustworthy options which allow users to transfer money across the country. PayPal was founded by Elon Musk who today is known as the founder of Tesla Motors, makes PayPal one of the oldest money transferring service on the planet. PayPal has enjoyed its monopoly over the years, but as the time went past, it has now started to receive serious competition from other players, more specifically, Payoneer.

What is Payoneer?


Payoneer is an online money transfer financial service provider which not only excels in money transfers from other countries but also provides e-commerce payment services. Payoneer was founded by Yuval Tal in the year 2005 with the core motive of transferring money with the minimum possible overhead charges possible. It looks like Payoneer has managed to do so as it is now in toe to toe competition with the world-famous PayPal. Payoneer is one of the most widely used online money transfer services available right now as it is being used in more than 200 countries. This is not a lengthy list as compared to its clients as Payoneer has tied up with major firms like Google, Amazon, Airbnb, Fiverr and many more. From Freelancing to eCommerce, Payoneer is everywhere, and you will be especially glad to know that Payoneer also supports a wide range of affiliate marketplaces.

Payoneer entered the Indian market again, and that is great news for all the people who have been using PayPal for all the money transfers from outside of India.

Why should you join Payoneer?

The answer is pretty simple, because of the less costly method of money transfer across countries. Well, that is not the only benefit Payoneer offers, so let’s have a look at Payoneer’s best features that you will be getting your hands on if you join Payoneer.

  1. Low transfer fee

When it comes to money transfers, the most annoying thing about them is the fee that is being imposed by the service providers like PayPal. Well, Payoneer is not an NGO which means they also have to impose some fee in order to survive but what they have done is that they impose fee much lower than the rival PayPal. Users can save up to $5 on each transaction which means about 300 INR per transaction. This is huge when you have multiple transactions coming to you in a month. So, for example, if you have 10 payments coming to you for your work, you can save about 300 rupees on each transaction which means Rs.3000 in total. Payoneer charges $2 for every $100 transaction received which is still better than other competitors.

  1. Bank Transfers

One of the best things about Payoneer is that they do the bank transfers on regular basis, daily to be precise. This sets them apart as Payoneer doesn’t hold or charge any transfer fee unlike PayPal or any other service. This means that users will only be bearing the charges that will be imposed by the banks as the transfer fee.

  1. U.S. and U.K. Payment service compatibility

Typically, we see that most payments received by businesses and freelancers are in USD, EUR or GBP. Payoneer provides local collection accounts for receiving payments in these currencies and transferred to the local bank account in INR at a much lower cost.

  1. Wide range of clients

Gone are the days when Payoneer was a new player in the market, and most of the firms did not offer them as a payout option. Payoneer is now one of the widely used payment platform enabling global companies and marketplaces to transfer funds, and are working with many of the big firms and brands. Payoneer is being offered as a payment option by marketplaces like Amazon, Groupon, eBay, Elance, GettyImages, Infolinks, Fiverr, Airbnb and many more. This means that getting money transfers from these clients and other supported clients is just a matter of time.

  1. eCommerce seller’s best friend

What Payoneer does the best is allow the sellers to have a sense of security when it comes to their payment. Leading eCommerce platforms like Amazon, Wish, Shopee trust Payoneer to enable their sellers to receive payments at low cost instantly. The payments once received are automatically transferred to the local account without charging a single penny which means that sellers will only have to bear the fee imposed by their local bank.

  1. Direct Billing

Payoneer’s new offering is their billing service. Through this service, Payoneer users can now bill their customers directly from the Payoneer platform. The user can simply send a payment request, and clients can pay safely and securely using their bank account, direct debit or credit card. This provides flexibility to the client to pay and the ability to the user to track the payments and keep the cash flowing in.

How well Payoneer stands against PayPal?

  1. Transfer fee

Payoneer PayPal
$2 for every $100 transfer

($5 Saving)

Around $7 – $8 for transactions of the same amount

Users can save up to $5 in transactions which means saving up to Rs.300 per transaction which is insane. Payoneer’s transaction fee is very negligible as you will be paying $2 for every $100 payment received.

  1. Referral Program

Payoneer PayPal
Receive $50 referral bonus when your referred person signs up There is no such thing

In this, all you need to do is refer another person, and when your referred person signs up to Payoneer and receives a payment of $100 through Payoneer, you will receive a $50 referral bonus in your account.  Similarly, when you receive payments worth of $100, Payoneer will also give additional $25 as a reward.

  1. Wide range of eCommerce, freelancing and affiliate clients

The best things about Payoneer is that it allows freelancers to save more money which was earlier being taken by the transfer fee. As we have established earlier, Payoneer is much cheaper to operate than PayPal; this implies that freelancers will save money and put it to better use than just getting it deducted in the transaction fee. This comes in handy as Payoneer is supported by most of the major firms like Amazon, eBay, Wish, Shopee etc. which means eCommerce sellers can be assured about their earning from these eCommerce websites. On the other hand, freelancers also do not have to worry as Payoneer is also supported by many major freelancing companies like Freelancer.com, Fiverr, Upwork, Envato and many more. Affiliate marketing has also shown growth in the past few years, and Payoneer has seen the potential in that industry which means Payoneer also allows users and firms to transfer money hassle-free. Payoneer is also working with many Affiliate Marketplaces like Dailymotion, Tradedoubler, ad4game, ClickBank, Taboola, etc.


Though I have been comparing Payoneer throughout the article with PayPal and showing how Payoneer is the better option for you, PayPal isn’t bad at all. In fact, they still have a bigger reach than Payoneer, and you find most of the clients are still comfortable paying via PayPal, but when you use Payoneer, you are charged a lesser fee. And USD to INR or other currency conversion rate is better too that help you save more money while receiving the payment from your client.

So, if you and your client both use Payoneer, make sure you get payment through it to save some extra bucks.

I Hope I said it all, if you have any question, do write back in the comments.

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About the author

Atish Ranjan

Atish Ranjan is an established and independent voice dedicated to providing you unique, well researched and original information from the field of technology, SEO, social media, and blogging.


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  • Great Post here @Atish.

    Payoneer is simply the best as of now compared to PayPal. It’s been a while since I received my Payoneer Card and must say they’re good.

    Especially when it allows me receive payments in three currencies: USD, GBP, EURO.

    Thanks for sharing this with your readers.

    • Hello Prosper,

      Thanks for coming by. I have been using PayPal since the beginning but now I started using Payoneer as well. And, it is so far so good.

      Keep Visiting. Thanks.

  • Hello Atish,

    This one’s a savage 🙂

    Yeah I heard the new GST introduces by the Indian government, surely gonna pay some relief.

    Coming to payoneer, this is something every web master wish to go through with. The rates offered here are amazing,
    as the PayPal charges up the taxes which now would be safe.

    WOW! these guys would be charging $2 till the 100 sales, this is something interesting, a hand full of bucks would
    be going in our savings.

    Thanks for the share.


  • Hi Atish,

    Thanks for the great payoneer review, Yes, I recommend payoneer to all freelancers and bloggers, it helps you to get money easily even in single day. In some point of view payoneer is far better than paypal.

  • Hi Atish.

    It is always a good thing to have alternatives and competition is the fuel of progress. I also think Paypal has enjoyed its monopoly. I hope competition like Payoneer will shake things up.

    Nice and elaborate post.

    • Hello Gagan,

      You can write to them using their contact form. By the way, I will try to forward your concern to them as well.. so that they may look into the matter. Do you want me to forward your problem to them?

  • Hello
    Very Informative post. I only knew the use of paypal and is also a very good for online payment. I read whole article in this you expalin the use of payoneer very nicely. This is really amazing some function of the payoneer is better than paypal.

    Thanks for sharing with us.
    Praveen verma

  • Hello Atish,

    GST is really a Game changer for Indian Economy and as you have said that it will also impact online transactions. PayPal is one of my favorite payment processor as I am using it from past 8 years and never have any issues. However It is true that due to RBI restrictions PayPal have some limitations for Indian users. Payoneer is really a great way to accept payments online. I am using it from past 5 months. No issue so far. Thanks for writing this wonderful article.

  • i registered for payoneer 1 year ago and got an email that account is in review but still my account is not activated what to do in this case?? and not send card my address.

    • Hello Shahin,

      I am not sure about the issue because I didn’t face anything like that. Would you like me to escalate it to the Payoneer team so that they can look into your issues?

  • PayPal is the worst of online services. Used it for several months making and receiving small payments and transfers. The moment i started receiving more regular transfers and slightly larger amounts they limited my account and started requesting a bullshit of info upon the fact that i had already fully verified my account (100%) with all requested documents after opening it. They can easily frustrate someone, imagine if you were depending on that money for something important and urgent and they do that. Terrible. and they sometimes hold withdrawals for a few days for the stupidest of reasons. My account is still limited after i’ve sent close to 10 emails via customer support and they don’t even reply again. Never gonna use or recommend PayPal to anyone again, ever.

  • This is a informative by Atish Ranjan. Many people face many problem to withdrow earn money from inline marketplace. Paypal is not supported in every country. Payoneer is one of alternative of paypal. I used payoneer & it”s very helpful for me.

  • Payoneer is really much better than Paypal. It’s easy to register and get verified. My Paypal’s Registration is still pending. Also, Payoneer is one of the best Payment method supported worldwide.

    BTW Thanks for sharing this Awesome Article!

  • Hello Atish,

    I have always being using PayPal for all the money transactions done online. Didn’t know an alternative to PayPal existed. I would like to register for Payoneer and give a try on how it works!

    Thanks for sharing this article!

  • Hi Atish Ranjan bro, I am using paypal from a long time but now I want to join Payoneer for some my other transactions so this article helps me our definitely and bro thanks for this amazing post.

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