Likelihood to Recommend Payoneer is well suited for freelancers whether or not they work on marketplaces. as it makes it easier to receive payments from clients abroad. More over it also takes a lot of hassle out of getting paid from international clients as well as sending cross border payments. It has some what limited implementation in e commerce type business especially where you need to automate the payment process
Read full review It is good when you need a temporary (or permanent) solution to get funds to your bank account for something as small as a one time event, recurring or larger. It has reputable companies that use it and seems to integrate easily with most systems and accounts. You will have to go through a whole setup, with your bank accounts, etc.
Read full review Pros It is very well accepted world wide and also accepts more than 150 currencies. A decent and nominal exchange rates of currency as compared to similar platforms like PayPal. I can keep track of all the transactions, payments, balance, etc using Payoneer. It is because of Payoneer we can grow our business globally. Read full review Easy for new users to set up a WePay account. Easy and quick for users with WePay accounts to make donations. Fairly quick payouts to organizations who receive donations through our platform. Read full review Cons The process of getting payment is a little bit complex in Payoneer as compared to PayPal. Receiving of payments takes a very long time and it's not instant. The customer service of Payoneer is not up to the mark and it takes a very long time to resolve simple issues. Read full review Admin reporting could be improved Fees are pulled out of each transaction instead of aggregated at the end of the month (this could be a pro for some users) Difficult to give switch the admin role after it has already been assigned No credit card swipers Only way to process a transaction is directly through the website Read full review Likelihood to Renew Payoneer helps me a lot on my online business journey, it gave me the support and functions that I want.
Read full review Support Rating The support is really awful. They send you generic answers, and actually don't really understand what is going on. For example, when our re-verification was stuck, support agents told me that the account is active and you can send a payment. I did that, my card was charged, but the payment was declined, because the account was not active
Read full review Alternatives Considered Before Payoneer, I used Paxum, a Canadian product, that was or is similar but more expensive. Also used Payza(later Ecopayz), and European alternative, they have their ups and downs, they aren't even listed in the Search above, basically they are both payment gateways that allow using several payment methods, and any payment gateway, the problem is they don't have any bank accounts associated with them, therefore they are more limited in that regard. Both use a card as the main withdrawal method, and both support international currencies, but there as I mentioned there isn't any bank account associated with them, nor there is a way to connect them to Stripe.
Read full review PayPal has it's own niche, and have more stand alone options, but they are confusing to navigate unless you are in their system a lot. Integration can take a lot more time to do and test out. Plus WePay charges less than PayPal does which in this case is an advantage.
Read full review Return on Investment I can receive the money from anywhere around the world, and in any currency. It converts the money directly into my local currency, hence becomes easy for us to track and withdraw money from our bank accounts. Sometimes customer support lacks the ability to satisfy the customer requirements. Required to make two different accounts for receiving and sending money. Read full review Cuts down on sales time because Wepay does the approval instantly Less return on a per transaction basis because the Wepay fees are pretty high to start with so we can't mark them up too high Read full review ScreenShots