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Webmoney vs. Payoneer: Comprehensive guide plus a full table comparison

When it comes to online money transfers or even conducting online transactions, then you have indeed got to choose the perfect solution. However, people often think that it’s not that easy to find the best option without making a huge amount of effort. However, a comprehensive guide can cut down on your confusions and make it possible for you to choose your service easier than the time you assumed it to have taken you.

Webmoney vs. Payoneer: Comprehensive guide plus a full table comparison
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In this post we’ll tell you all about the differences between two of the world's major payment processors; Webmoney vs. Payoneer

Pros and cons of Webmoney

Webmoney is a widely known payment service popular among many investors and clients who are active in the world of digital financing solutions. Using Webmoney users can pay for goods and services as well as bind the purse of other payment resources. People who have used the system claim that the security it brings is seamless in terms of preventing serious theft or fraudulent activities. All these aside, the most popular feature of the system is named to be its multi currency e-wallet which allows you to create several currency wallets, be it "euro", "dollar” or the Russian “Ruble”.

In addition to its many advantages, there are also negative sides. Unreasonable blocking of wallets is one major disadvantage of the service. Thus, it is not possible to use the wallet for some time. Another major reason why many hesitate to use the system or exchange it for other forms of digital currency or e-money is that Webmoney fees are considerably higher than most other payment processors due to the economical atmosphere in Russia and high price of Ruble. 

Pros and cons of Payoneer 

As another great name in the world of digital assets, Payoneer operates in around 200 countries with 150 local currencies. Payments between local Payoneer accounts are free of cost, plus the system provides a custom invoicing facility which allows payment requests from individual clients. One other major factor for most users is customer support service in which case Payoneer customer support system is robust and includes email, live chat, and phone support.

On the other hand, transaction fees of the system are quite high in some cases including card transaction fees. 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.

Webmoney vs. Payoneer

Webmoney and Payoneer are two well-known payment systems which offer diverse financing options to their users. Unlike Payoneer which accepts only Mastercard, Webmoney does accept credit/debit cards. 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 100, 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 Webmoney is no longer available to the US market Because of the MSB rule and the prepaid access rule.

Payoneer charges you up to 3.5% for currency exchange, while WebMoney Transfer charges the fee of 0.8% of the payment amount for every transaction, but not less than 0.01 WM.

You can use WebMoney as your payment method in a variety of countries globally and it can even be used to purchase Bitcoin, whereas on Payoneer you can not buy or trade any cryptocurrencies

Unlike Webmoney, Payoneer does not offer an online payment gateway to its customers. 

Both services have been recorded with poor customer support through Email, live chat and phone.

Last but not least, due to the economical atmosphere in Russia and the falling prices of Russian Ruble, not many online payment processors accept and offer Webmoney related services. 

Comparison table 

  Webmoney Payoneer Both 

Which accept credit/debit cards?

*    

Which accepts Mastercard?

    *

Which offers a free account?

    *

Which charges higher fees for money transfers?

  *  

Which can be used for buying or trending cryptocurrencies?

*    

Which offers an online payment gateway?

*    

Which has poor customer support?

    *

How PayPax benefit both Webmoney and Payoneer users

In this article we compared and contrasted two of the world’s major payment processors Webmoney and Payoneer. Both systems are widely used around the world and popular among many users.

Also if you ever were in need of transferring funds from one processor to another, all 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:

 





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