Last updated on
Company health
Ratings
Payoneer description
Payoneer is a global financial platform that helps businesses, particularly small and medium-sized enterprises (SMEs), manage cross-border payments. It allows you to pay and get paid by international clients and contractors easily, in multiple currencies. Payoneer also provides tools for managing your funds, including withdrawing to your bank account. It's known for its international reach, supporting over 200 countries and 150 currencies.
Who is Payoneer best for
Payoneer is a versatile platform simplifying cross-border payments for businesses. Its multi-currency support and convenient fund management tools are praised by users. However, some have reported issues with high fees and customer support. Perfect for SMBs engaged in international trade or employing freelancers globally.
-
Best for small to medium-sized businesses (SMBs) needing international payment solutions.
-
Ideal for various sectors, including e-commerce, retail, and software.
Payoneer features
| Supported Payoneer supports receiving online payments directly from invoices via payment requests and local bank details. |
| Supported Payoneer supports receiving payments and making payouts in multiple currencies. |
| Supported Payoneer accepts payments via bank transfers, both locally and internationally. |
| Supported Payoneer supports international payments from customers worldwide. |
| Supported Payoneer supports payments and reimbursements in over 190 countries and 70 currencies. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Ease of Implementation
Payoneer reviews
We've summarised 1054 Payoneer reviews (Payoneer Software Advice reviews, Payoneer GetApp reviews, Payoneer TrustPilot reviews, Payoneer Capterra reviews and Payoneer G2 reviews) and summarised the main points below.
- Secure platform for international payments
- Ease of use for receiving payments and managing funds
- Multiple currency accounts and convenient transfers between them
- Integration with freelance platforms and marketplaces
- Availability of a physical debit card for easy access to funds
- High fees for certain transactions and withdrawals
- Account blocking or suspension issues, often without clear explanation
- Slow and unhelpful customer support, especially with complex issues
- Limited functionality of the mobile app
- Difficulties with account verification and document submission
Payoneer pricing
The commentary is based on 250 reviews from Payoneer Capterra reviews, Payoneer G2 reviews, Payoneer GetApp reviews and Payoneer TrustPilot reviews.
Payoneer's fees are a recurring concern, described as expensive, high, and impacting small businesses and freelancers. While some find the rates competitive, others point to lower-cost alternatives. Several users mention annual fees and high transfer costs negatively impacting earnings.
Users sentiment
See the Payoneer pricing page.
-
Payoneer has a free plan.
Receive payments from another Payoneer customer
Receive payments from another Payoneer customer’s balance for free.
Directly by your clients
Send your clients payment requests which they can pay via credit card, ACH bank debit, and direct bank payments.
Directly by marketplaces and networks
Get paid directly into your Payoneer account by various marketplaces, platforms, and networks.
Via your receiving accounts
Use your Payoneer receiving accounts like a local bank account in the country and currency you get paid.
Pay recipient with a Payoneer account
Payments from your Payoneer balance to a recipient’s Payoneer account.
Pay recipient without a Payoneer account
Pay people and organizations directly from your Payoneer balance to their bank account via bank transfer.
Pay a Payoneer customer for services
Pay any Payoneer user for their services via credit card, local bank transfer, ACH bank debit, or direct bank payment.
Payoneer card
Make business purchases, pay for advertising, buy goods and services, and withdraw funds at ATMs.
Manage currencies
Move funds between your Payoneer balances.
Withdraw to your bank account
Withdraw funds to your local bank account.
Payoneer alternatives
BILL AP/ARBetter for US-based businesses needing accounts payable and receivable features. Has stronger momentum in employee growth. Users highlight seamless QuickBooks integration and ease of use, but note syncing issues and a clunky AR system. A Payoneer alternative, BILL AP/AR offers tools for cash flow visibility and automated bill payments.Read more
VertoFXMore focused on providing cost-effective and transparent foreign exchange services. Has significantly more momentum currently. Users highlight fast international payments and responsive support but some report difficulties with account closures and documentation requirements.Read more
SAP ConcurBetter for managing travel and expenses. Caters to larger enterprises. Has slower momentum.Read more
MaestroPaymentBetter for managing international contractors and freelancers. Focuses on automating payments and administrative tasks. Integrates with accounting and HR tools.Read more
CoupaBetter for managing all company spending, not just international payments. More appealing to larger enterprises. Has more website traffic momentum.Read more
TransformifyBetter for mid-sized businesses needing applicant tracking, HR, and payroll in one system. Focuses on diversity and inclusion hiring. Has growing website traffic but declining employee growth.Read more
Payoneer FAQ
What is Payoneer and what does Payoneer do?
Payoneer is a financial services platform that facilitates cross-border payments for businesses, especially SMEs. It enables sending and receiving payments in various currencies, managing funds, and withdrawing to bank accounts. Payoneer supports over 200 countries and 150 currencies, simplifying international business transactions.
How does Payoneer integrate with other tools?
Payoneer integrates with various platforms, including e-commerce marketplaces, freelance platforms, and other business tools. This allows for streamlined payment processing and easier management of international transactions. It also offers API integrations for more customized solutions.
What the main competitors of Payoneer?
Payoneer's main competitors include VertoFX, BILL AP/AR, and MaestroPayment for international payments, and Coupa, SAP Concur, and Airbase for broader spend management. These alternatives offer similar features for businesses needing streamlined financial operations.
Is Payoneer legit?
Yes, Payoneer is a legitimate financial platform for international payments. It's known for its global reach, supporting numerous countries and currencies, making it a secure option for cross-border transactions. However, be aware of potential downsides like high fees and customer service issues.
How much does Payoneer cost?
Payoneer offers free services like receiving payments from other Payoneer users and using receiving accounts. Other services, like paying clients or managing currencies, incur fees ranging from 0.5% to 3.99%. The Payoneer card is free, but some add-ons and transactions may have associated costs.
Is Payoneer customer service good?
Payoneer customer service reviews are mixed. While some users praise the helpfulness and responsiveness of the support team, many others express frustration with slow response times, unhelpful generic replies, and difficulty reaching live support for complex issues.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.