So of course there are many different ways in which transactions occur. So you are asking yourself so what is Payoneer and why should I care? Well there are plently of reasons. I know direct deposit or through a third party service such as Paypal have been around since the beginning of the internet; however, what makes Payoneer different is that is that is specifically targets how businesses can pay and get paid no matter where in the world you are.
In broad terms, Payoneer is an online payment and Internatonal Money Transfer platform. Payoneer is trusted and has been used by thousands of marketplaces to pay their clients since their beginnings in 2005.
Payoneer is also a trusted and registered Member Service Provider (MSP) of Mastercard Incorporated. This is a good indicator about the quality of the company. Payoneer has many partner businesses across the globe such as Airbnb and Amazon. Also, the company headquarters is located in New York City. So the fact that it has a physical office address and is partners with big name companies show the quality and trust that the company has established within its industry.
What Does Payoneer Feature?
In addition to being an established online payment and money transfer platform Payoneer offers quality service and features.
- Simple and easy platform and low service charge (cross border charges may apply i.e currency conversation).
- Faster Payment, able to receive your payments within minutes.
- Established in more than 200 countries to withdraw payments from.
- Able to use for online shopping payments.
- Able to withdraw payments from any MasterCard supported ATM.
- Withdraw Payment from Paypal, Odesk, Freelancer, Payza etc.
- Receive payments from thousands of Payoneer partner companies via your Payoneer Account.
- Other Payoneer account members can make a payment directly to your Payoneer account, without any additional charges.
- The ability to add your local bank account details to your Payoneer account and
transfer your funds to your bank account (Currently supports over 150+ currencies).
- Able to receive payments in USD from US companies – as if you have a US bank account.
- 24/7 Customer Support.
How Can You Benefit From Payoneer?
Great, so now we know what Payoneer offers; however, what does that mean for you as a business owner or partner?
So now not only can you pay your employees directly but you can do it for no additional cost if they are also a member. Meaning you save both time and money compared to traditional services where you might have to wait days or weeks for the transaction to go through no matter where in the world they are.
Options for sending and receiving payments with no hidden fees
So with Payoneer you have multiple ways of getting paid and seeing that hard earned money in your local bank account in minutes depending on how you would like to receive your payment. This is great for bloggers and affiliate marketers!
The first way is that you can order the Payoneer Mastercard and all the payments will automatically be sent to your card. So you can use it for purchase or you can head to atm which has the mastercard logo and withdraw money from there anywhere in the world where mastercard is accepted.
The second way you can get paid is by direct deposit. The great thing about Payoneer it allows you to directly deposit money into your bank account from your Payoneer account. So why is this impressive?
First, imagine you are part of the Amazon Affiliate Program in the States but you are a resident in Canada. Now in this situation you really have only two frustrating choices. You must either have a US bank account or be able to receive US cheques which most banks make a big fuss about. Both of these methods are a hassle and deters people from joining the program. However, Payoneer allows you to set up a digital bank account with them that acts as a US Bank account. They provide you will all the information you need so that Amazon can make that direct deposit. From there you can just transfer it into your local bank account without any complications. Just like that, you can join Amazon Affiliates Program and have no hassle when it comes time to get paid. It’s a win win for everyone. Speaking of win wins, check this article out on how to create your own online business so that you can get started getting paid with Payoneer.
Withdrawing Currency from anywhere in the world
So if you are using the Payoneer Mastercard, which I recommend you do, you can go to any atm that accepts the mastercard logo and withdraw local currency. The only downside is that you are charged a small fee of $3 for the transaction; however, say you are withdrawing $1000 then that small fee doesn’t seem to matter as much, does it?
Unlike Paypal, Payoneer has no hidden fees and if there is any fee for any transaction then it shows that transaction fee to you so that you don’t get frustrated after making that transaction. Also, unlike Paypal which may or may not set a withdraw limit on your account when you are first starting you don’t have to worry about having your funds frozen before you establish yourself with Paypal.
Summary of Payoneer
I have shown you how and why Payoneer is amazing and the benefits Payoneer offers. I highly recommend you to signup for Payoneer.
Since Payoneer is partnered with leading companies you know they are in it for the long run. This is great news especially for companies paying their affiliates. So, it has become extremely important to use Payoneer.
Payoneer is also outstanding for saving your money from fees and taxes, it’s transparent so you always know how much you are sending or receiving and their fees are often less than other companies. Not to mention the currency conversion rates are doing well you don’t need to worry about these things.
If you have not already signed up for Payoneer then go and signup for Payoneer and enjoy their amazing service and benefits. Sign up with me and receive $25 when you receive your first $100. Free money and an awesome service! What are you waiting for.
If you have any question or suggestions then please comment below.