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what is payoneer

What Is Payoneer?

Payoneer is a financial institution which is tasked with the purpose of sending funds locally and internationally. They have they’re headquartered in New York but they have a network in over 200 countries and have over four million users in the world. They can oversee the transaction over cross borders in 150 countries around the world.

The company has a high reputation and is used by big companies in the world in money transfer. Some of these companies are Amazon, Google, Airbnb, and even Upwork. This goes to show that the Services rendered by this institution is top notch and world class.  When it comes to sending money, you might want to use Payoneer. Although there are other institutions which provide these services like Payoneer you get better service at a lower price you will have to go with Payoneer.

You might think at first that this company is a merchant account provider or a payment service provider (PSP) like other institutions that indulge in this kind offer business. But Payoneer does not indulge in such services. Payoneer is recommended for business with customers and networking internationally because providing internationally money transfer at high speed is their specialty.

We have seen that the company has some top notch service and can be trusted to deliver payments to customers at high speed. You should also know that it has a downside. Although you will not be asked to pay a monthly fee or be tied into a contract by the institution you will have to pay a $29.9 fee on the debit master card every year. This card comes with every account registered.

There are also some other common charges attached to their accounts. Take for example there is a monthly inactivity fee to be paid if you don’t use your account for some time.

Payoneer Services Provide:

Payoneer has numerous Services it offers to its customers, these are outlined below.

  • Every customer is given a Payoneer account which is easy to use. The account is upon registration and can be used to transfer and receive payments.
  • The account registered comes with a debit Master card which can be used to make payments. Although this card is not a master card, a fee is still paid for the card annually.
  • A mobile app is also provided by this institution. The app can be used to check account balance and withdraw funds but it can’t be used to make payments.
  • They have an e-checking System for every account created.
  • Payments from this institution are made online and swiftly
  • Payoneer provides top-notch security for its customers when transactions are being made and carried out.

Advantages of Payoneer:

  • They have a monthly billing without an early deactivation fee.
  • Free payments between Payoneer account
  • Best for international business and freelancer

Disadvantage of Payoneer:

  • They have a high transaction fee for credit cards
  • They have no virtual gateway or terminal
  • There is an annual fee to be paid for the debit card.

Conclusion:

Payoneer can be used by different System to make the transaction of funds easy and efficient. The system can be trusted because it is being used by high-class companies in the world. It also provides highly secure transactions.

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25/08/2019, 11:48