Perfect Money vs. Payoneer: Comprehensive comparison plus table
Online money transfers and transactions will require having a reputable and trustworthy payment processor. With the number of existing options out in the market, it’s sometimes overwhelming to find the best solution for your online payments. A comprehensive guide can clear the air for you to be able to choose your service easier than what you assumed it to be.
In this post we’ll tell you all about the differences between two of the world's major payment processors; Perfect Money vs. Payoneer.
Pros and cons of Payoneer
Payoneer is a financial services company founded in 2005 and has made significant improvements ever since. It provides a large number of services for its users from online money transfer to digital payments and has also been in association with various businesses to expand its services even more.
Payoneer is currently active in more than 200 countries with over 150 currencies. Payments are free between Payoneer accounts. The Payoneer customer support system is quite strong offering email, live chat, and phone support.
International transactions on Payoneer will charge you with a 2% for currency conversions. It also charges an annual fee for Mastercard usage. Payoneer is not a supported payment method everywhere and might become an obstacle in the way of e-commerce operations.
Pros and cons of Perfect money
Perfect Money gives its users lots of methods and options to withdraw or deposit their funds. It’s an online digital currency payment system that allows you to make instant payments and money transfers securely all around the world. All funds are transferred securely and with no risk of being lost or scammed. Transactions are instantly and flexibly made between the two parties.
However, Perfect Money fees are in some cases higher than usual and not very cost-effective. Perfect Money does not accept US clients due to the closure of liberty reserves and thus not many real businesses accept Perfect Money as a payment method. All transactions made within the system are finalized and irreversible once done and you need to keep an eye open for cyber security issues and fraud.
Perfect Money vs. Payoneer
Perfect Money and Payoneer are two well-known payment systems which offer diverse financing options to their users. Both services do not accept credit/debit cards. Payoneer, however, does accept Mastercard.
Opening a business or personal account on both services is easy and free of cost.
The number of countries supported by Perfect Money does not exceed 10, while Payoneer has a support list of more than 200 countries. It is worth mentioning that Payoneer users can't issue cards to people with a Russian shipping or billing address and Perfect Money does not accept US clients.
Perfect Money charges you with a fee of 0.5% per transaction while Payoneer charges you up to 3.5% for currency exchange.
You can not trade cryptocurrencies on Payoneer but Perfect Money offers the advantage that you not only can buy it for fiat currencies like US Dollar and Euro but also for crypto currencies like Bitcoin.
Unlike Perfect Money, Payoneer does not offer an online payment gateway to its customers.
Perfect Money has good user experience regardless of the cost. Payoneer too does offer good customer support through Email, live chat and phone.
Comparison table
| Perfect Money | Payoneer | Both | |
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Which accepts Mastercard? |
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Which offers a free account? |
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Which supports more countries? |
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Which has lower fees? |
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Which can be used for trading? |
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Which is an online payment gateway? |
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PayPax advantages for both Perfect Money and Payoneer users
In this article we compared and contrasted two of the world’s major payment processors Perfect Money and Payoneer. Both systems are widely used around the world and popular among many users.
With the comparison provided you can now easily weigh the pros and cons of them from different aspects and choose your payment processor easier than ever before.
Also if you ever were in need of transferring funds from one processor to another, what you need is a reputable and secure online exchange to bring you safe and secure means of transferring money with the best and most updated rates and lowest fees.
Our recommended exchange service is PayPax. PayPax is a safe and secure foreign exchange and international payments processor with the best exchange rate for your currency and fiat exchange. The provided rates are updated based on mid-market data and will make you free of using conventional methods and poor rates. Using the exchange service you can easily:
PayPax
PayPax provides individual and business online payment solutions Contact us for all you need
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