Item: Payoneer
Rating: 8
Author: Prakul Sharma

Overall Satisfaction with Payoneer

Use Cases and Deployment Scope

Payoneer is used as a payment gateway if I want to receive any remuneration done by any foreigner. Usually, we get it from clients located in the Asia Pacific region. It is a very useful tool for us as we receive full payment (without deduction of commission) from clients situated in any part of the world. For clients, it is beneficial as he can pay us in any currency he wants.

Pros and Cons

Pros

The best part of Payoneer is that there is no deduction of any commissions like we have in PayPal.
I always get notifications regarding the remuneration which helps me in tracking my money.
The payments gets automatically transfer to my bank account without any hassle.
The conversion rate of the currency is higher than other payment tools like PayPal.

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.

Most Important Features

Receiving payments from any part of the world
Commisions are reasonable as compared to paypal
Better currency exchange rate as compared to Paypal

Return on Investment

Since we are a small entity the best part is it's free for us.
Using this payment gateway I can work for any client located at any part of the world.
It helped my entity to grow internationally in terms of profit and availability of business.

Alternatives Considered

PayPal Payments Pro and Google Pay (formerly Google Wallet)

I selected Payoneer as the fees they have deducted are less and also the exchange rate is better. Also, from time to time I get updates or notifications about the whereabouts of my money. Though there is a limit to receiving money in a single transaction using this tool, it's perfect for me as I get petty cash using this tool.

Key Insights

Do you think Payoneer delivers good value for the price?

Yes

Are you happy with Payoneer's feature set?

Yes

Did Payoneer live up to sales and marketing promises?

Yes

Did implementation of Payoneer go as expected?

Yes

Would you buy Payoneer again?

Yes

Other Software Used

Google Ad Manager, Google Analytics, Jira Software, Slack

Likelihood to Recommend

Payoneer is well suited for any person or entity who works for international customers or clients, particularly for freelancers. It is well accepted in almost 150 countries. However, the process of getting payments is very slow using this gateway and you have to wait for 4-7 business days to get it. Also, there is an upper limit of $1000 for receiving a payment which I think is a drawback.

Comments

Please log in to join the conversation

Work internationally and grow your business without worrying about payments as Payoneer is there to get it.

Software Version