Payoneer vs. skrill: What are the differences?

As two of the world's largest payment processors, many users choose Payoneer and Skrill. However, they have different effects on your business or financial need. It is important to choose your payment processor wisely and that is why in this article we will have a precise comparison between the two payment options, Payoneer vs. Skrill. 

Pros and cons of Payoneer

Pros of using Payoneer:

• Payoneer is a well-known and well-established online payment processor for freelancers, service providers, online retailers (e-commerce), and digital marketers.
• International transfers between Payoneer accounts are free.
• Customer service for Payoneer is bilingual and available 24/7.
• The system offers a feature for customized invoicing that enables payment requests from specific clients.

Cons of using Payoneer: 

• There are many Payoneer fees that can be applied to your account.
• The fees for Payoneer cards are rather expensive.
• The fact that Payoneer is not a widely accepted payment option might occasionally be a barrier for e-commerce companies.
• In addition to an annual cost for Mastercard use, international transactions inside the system are assessed a 2% fee.

🔶Related: Payoneer vs. PayPal

Pros and cons of Skrill

Pros of using Skrill: 

• As a supplier of a digital multicurrency wallet, Skrill facilitates online payments, sending money, and keeping funds.
• With the digital wallet being available in 40 different currencies, the system has been able to function in more than 120 countries.
• Payments are quick, simple, and safe with Skrill, and all of your information is kept in one location.
• The client will be able to transfer funds from his or her Skrill account to an online banking account, enabling ATM withdrawals.
• To further safeguard the security of your payments, Skrill's anti-fraud system will stop any shady behavior and any kind of cyber security threats.

Cons of using Skrill: 

• In some circumstances, verifying a Skrill account might take too long, which has led to several system complaints.
• Since the Skrill customer service desk is simply a chatbot and only provides prepared replies, it has drawn criticism for being unreliable.

🔶Also read: Perfect Money vs. Skrill

Payoneer vs. Skrill

Here are some of the differences between Payoneer and Skrill: 

• While Skrill pricing is fairly transparent and listed on their website, Payoneer fees are not.
• Both Payoneer and Skrill offer an easy-to-use mobile app.
• Payoneer offers 150 cryptocurrencies, whereas Skrill offers 40.
• Payoneer transactions take between 1-2 working days while Skrill transactions can take up to 3 working days. 
• Both Payoneer and Skrill offer services in more than 200 countries.
• Payoneer accepts Mastercard while Skrill accepts Visa prepaid cards.
• Sending money from a Payoneer account to another is free and they are charged with 1% fee via ACH, 2% via another bank account, and 3% via credit card. Skrill users in the UK are charged with %1 fee. 

Comparison table 

Instant online platform for Payoneer and Skrill exchange  

Payoneer and Skrill, both are payment solutions that bring several benefits to their users all around the world. The variety of currencies offered by Skrill surpasses those offered by Payoneer. However, both services are highly secure and convenient in terms of use. 

To find the right solution to your financial needs, you should also consider other options. PayPax is an all-in-one payment solution with an instant and easy to use app that can save up most of your time and cut the edges on your expenses by offering cost-effective fees. 

Additionally, if you ever needed to transfer money from one processor to another, all you would need is a reliable and highly secure online exchange to provide you with a safe and secure method for doing so with the best and most recent rates and lowest costs. Visit PayPax.io and enjoy a world of endless opportunities.