Payoneer vs. PayPal: Detailed comparison plus a table
PayPal and Payoneer are two of the world’s largest payment processors with thousands of users worldwide. When deciding on choosing an ideal payment processor, it is often quite hard to know which could operate as the most suitable match for your financial aims and needs. That is why this article is going to help you with the differences between Payoneer vs. PayPal.
The professional nature of Payoneer's services makes it challenging to have a direct call between the two services. Payoneer is great for companies, freelancers, and online retailers, but PayPal could be a better option for sending money to friends and family. For a comparison between Paypal and Payoneer, check the article below.
Pros and cons of Payoneer
Pros of using Payoneer:
- Payoneer is a leading online payment processor for freelancers, service providers, online sellers (e-commerce) and digital marketers which operates in 200 countries and is widely available.
- International payments are free from Payoneer to Payoneer accounts.
- Payoneer customer support is multilingual and available 24/7.
- The system provides a custom invoicing facility which allows payment requests from individual clients.
Cons of using Payoneer:
- There are several types of Payoneer fees which you can be charged with.
- Payoneer card fees are relatively high.
- Payoneer is not a widely supported payment method which can sometimes act as an obstacle for e-commerce operations.
- International transactions within the system are charged with a %2 fee, plus an annual fee is charged for Mastercard usage.
🟧See also: PayPal vs. Stripe
Pros and cons of PayPal
Pros of using PayPal:
- PayPal offers easy and reliable payment services for both online and offline sales.
- PayPal provides secure means of sending payments and different financing options to its users all around the world.
- Strong merchant support features for its users to better make use of the system.
Cons of using PayPal:
- The popularity that comes along with PayPal, makes it an attractive target for phishing and scams and with recorded complaints about its poor customer service.
- Refunds are delayed and disputes can take days to be responded to.
🟧Related: Webmoney vs. Payoneer
Payoneer vs. PayPal
Here are some of the differences between Payoneer and PayPal:
- PayPal fees are something between £0.99 for transactions under £49.99 and £1.99 for transactions between £50 or over. Whereas, Payoneer fees depend on the type of transaction you are processing and can be anything between 1 – 3%.
- PayPal exchange rates are between 3.5 – 4% on most currency conversions, while Payoneer typically charges a 2% fee based on the mid-market rate.
- Both PayPal and Pyoneer are available in more than 200 countries, but PayPal supports 25 currencies while Payoneer supports only 7 currencies.
- PayPal’s transfer time can take from minutes up to 5 working days, while Payoneer transactions can be processed within 24 hours up to 2 – 3 working days.
- PayPal supports paying by bank transfer, credit card, debit card, or transferring via your PayPal account, while Payoneer’s payment options include paying by only credit card, eCheck, or bank transfer.
- PayPal app is available on both iOS and Android, which will allow you to view your balance, add and withdraw money, and send money. This app is convenient and easy to use. A Payoneer app will give users the opportunity to manage currencies, request payments, and withdraw payments to bank accounts.
Comparison table
| PayPal | Payoneer | Both | |
| Which has higher fees? | between £0.99 for transactions under £49.99 and £1.99 for transactions between £50 or over. | depending on the type of transaction you are processing and can be anything between 1 – 3%. | |
| Which has better exchange rates? | ✓ | ||
| Which is more widely available? | ✓ | ||
| Which is faster? | ✓ | ||
| Which has more supported methods? | ✓ | ||
| Which offers an app? | ✓ |
Instant online platform for Payoneer and PayPal exchange
In this article we went through and discussed two significant payment processors, Payoneer and PayPal. Both systems are well-liked and often utilized by individuals all across the world.
Additionally, if you ever needed to transfer money from one processor to another, all you would need is a reliable and highly secure exchange to provide you with a safe and secure method for doing so with the best and most recent rates and lowest costs.
PayPal is a good option,but you will likely find better rates with a different online money transfer company than PayPal if you want to save a little more money. To find the best online exchange services, you can visit PayPax.io. Here are some of them:
PayPax
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