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You are here: Home / Reviews / What is Payoneer About and How Does it Work?

What is Payoneer About and How Does it Work?

Updated April 21, 2021 By Den 44 Comments

What is Payoneer About and How Does it Work?Payoneer is an online payment service where you can use for payment and to be paid as well and they will issue a pre-paid MasterCard you can use anywhere.

Is Payoneer legit? Yes, it is legit and I am using it myself.  Businesses have been modernized in the present times. The communication between customers and businesses and relations between peers in businesses has become stronger and more efficient than ever before.

Now, lack of communication is no longer an acceptable excuse for poor performance. Thanks to the internet, businesses can be easily globalized in the modern age. This has opened ways to endless possibilities, and consequently, cash flow around the globe has also improved dramatically.

You might be sitting in one corner of the world, and within a day, you can receive your payments from the other part of the globe.

In this review, I will talk about one such payment gateway services. A lot of people are asking if Payoneer is legit. I will search for the answers whether or not this product is actually legitimate or if it’s just another scam like many other online services.

I will try and drill down to the core to understand how this payment service works and what its pros and cons might be. Considering that it has a decent online presence, it is expected that we should get all the answers you need.

Payoneer Review
4

Summary

Name: Payoneer
Website: payoneer.com
Business Type: Payment Service
Price: Free to join
Star Rating: 4.0/5

 What is Payoneer?

If you own business which in some way or the other takes or provides services to foreign businesses, then you must be aware of the importance of a payment gateway.

Renowned names such as Money Gram, Western Union, and others are all such services which provide simple money transferring capabilities to the customers.

Payoneer is another such service. It allows the users to transfer and receive money locally and internationally. It offers a wide range of tools and features that can make your money transactions safer, secure and fast as well.

It offers low-cost transaction solutions which make it more convenient for the customers to send and receive payments to other businesses or individuals.

It’s an attempt to make the flow of money smoother and efficient around the globe so that businesses can progress at a rapid pace.

Payoneer – A Brief Introduction

Payoneer is a payment transfer service with which you can send and receive money in different currencies. It works with more than 150 currencies and is available in more than 200 countries of the world.

There are several payment methods available which allow the users to select the most suitable option for them.

To give you an overview, here is what you can do with Payoneer.

  • Track your account balance and payments.
  • Access transaction history right from where it all started.
  • Monitor transaction fees and foreign currency amounts.
  • Select whether the recipient or the payer will pay the transaction fee.
  • Use multiple payment methods such as bank transfers, Prepaid MasterCard or e-Wallets.
  • Pay through your Payoneer account regardless of the fact that the recipient holds a Payoneer account.

There is a lot of versatility in the tools and features. It allows the users to select the most suitable payment methods for their business.

Joining is straightforward, and you can start sending and receiving payments in no time. There are automatic payment collection options also available to help you receive money anytime and anywhere.

Summary  Overview

Payoneer Review
4

Summary

Name: Payoneer
Website: payoneer.com
Business Type: Payment Service
Price: Free to join
Star Rating: 4.0/5

Payoneer Pricing

Payment processing with Payoneer becomes really efficient and profitable. You can register at the official website for free. This is just to get you started with the features and available tools. Here are the details regarding how pricing is distributed:

  • Free online payment receiving from other Payoneer users. It works for Dollar, Euro, Yen, and Sterling.
  • For bank account holders in UK, US, Europe or Japan, you can avail the global payment service for free.
  • Direct payment services are available for 3% on credit cards and 1% on e-Checks transfer.

A Quick Look at the Features

Payoneer’s solutions for cross-border payment appear to be trustable. There are a variety of features to talk about and here are some of them:

Standard Compliance and Adherence:

Payoneer ensures that your payments are all secure in every possible way. All your money transfers work on standard procedures which can be audited and traced to the core. The system is secure to ensure there are no mishaps later.

Quick Collection of Funds:

Regardless of which currency you might have, Payoneer will allow you to receive payments instantly. It has a convenient and hassles free collection system which eases the operations for customers.

Low Fee:

By making use of the state of the art transaction procedures, customers can save up to 71% of processing fee. It gets rid of some unnecessary and rigorous processes to make the process smoother.

Professional Support:

If customers get into any sort of trouble, there is a professional support team always available to help them out.

A Word on API and Integrations

Payoneer makes use of some popular apps and online services. It integrates with top apps such as  Hub staff, Xero and works with Google, Amazon, Airbnb, Fiverr, Lazada and Taboola to ensure quick and safe delivery of money to all parts of the world.

Payoneer Pros

Because this service appears so efficient in so many ways, one can expect several advantages from Payoneer. Here are some of the best advantages you get with this service.

  • Provides a US bank account so Amazon can pay you through this account (good for non-US based affiliates)
  • Will issue a Payoneer Prepaid  MasterCard you can use to withdraw or make purchases. (your Amazon commissions are loaded on this card)
  • Free Payoneer to Payoneer account transactions (business to business only).
  • Funds transfer to third parties can help you pay and charge non-Payoneer users.
  • You get access to full payment history and transaction records
  • The capability to decide the payor for transaction fee makes your deals more transparent.
  • It is available worldwide so you can transfer to any place and in almost any currency.
  • There is multilingual support available to help the Payoneer users with their possible issues.

 Payoneer Cons

There are not too many cons of this website. In so many ways, it comes across as a complete payment processing package which is why it has a good market value as well. However, there are one or two glitches that I have observed:

  • It can expand on the credit cards as it supports just MasterCard at the moment.
  • It doesn’t have an open API so integrating your business apps can be a problem.
  • Customer response rate can be much faster.
  • No transfer of funds between individuals.

What Users are Saying about Payoneer

The general customer response to Payoneer has been quite good. Most of the Payoneer users have given it a thumbs-up and in fact, recommended this product for use.

Some users have also pointed out a few weak links in this product which can be improved.

Users suggest that Payoneer has helped them with their online and international transactions. One user suggested that it was more convenient for her to pay for online platforms such as Amazon and Ali Express.

Another Payoneer user said that this service is quite reliable. There is no restriction on the amount of money you wish to withdraw, and it is quite cost-effective.

They said that they normally use it for shopping and so far they haven’t had any trouble with this service.

One of the only drawbacks most customers have talked about is the customer service. Users suggest that it take a long time before they receive a response to their queries.

Besides that,  major complaints are inexistent regarding this service which suggests that it’s quite reliable and efficient.

 It Is Popular?

Payoneer has a good position when it comes to user reviews. However, to further clarify how effective this payment service actually is, we will now take a look at what neutral platforms and reviewer sites have to say about Payoneer.

Alexa suggests that Payoneer’s recent performance has not been the best. However, when we look at the overall statistics, it makes a great reading.

Payoneer ranks among the top 2000 websites around the globe. A good percentage of visitors for Payoneer come from the subcontinent region.

According to SimilarWeb, Payoneer’s Global rank is lower as compared to Alexa’s rankings. It ranks among the top 4000 websites which are still not bad figures at all.

In the last month, it has had more than 9 million visits with an average of 5.82 pages per visit. Its users are continuously growing especially in the subcontinent part of the world, and the majority of its visitors come from Pakistan.

 Conclusion

Is Payoneer Legit?

From the outset, Payoneer looks like an authentic payment processing and money transfer service.

It is operations in more than 200 countries of the world, and its multilingual and multi-currency features make it an appealing service for all.

There is very little to criticize about Payoneer’s services and the fact that it can help you track the fund’s history and transactions make it a transparent and trustworthy service, especially for businesses.

Bigger transactions can be safely made through Payoneer, and if you ask us whether Payoneer is legit, it’s a YES from my side.

I am personally using it and I love the service.

Join here to get your $25 bonus once you receive the first $1000 in your account. Join Now!

Feel free to ask questions, post comments or subscribe to my email list so you will be the first to receive updates and offers.

Payoneer Review
4

Summary

Name: Payoneer
Website: payoneer.com
Business Type: Payment Service
Price: Free to join
Star Rating: 4.0/5

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Hello Everyone,
I am Den and I am the owner of this Website. I finally quit my job in Aviation to do my online business full-time.

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Reader Interactions

Comments

  1. isaac says

    May 27, 2017 at 12:51

    Hi Den. I’ve just sign up to payoneer a couple of weeks ago. Amazon affiliate policy on sending checks for non-US based affiliate is killing me. It took a few weeks for the checks to arrive, a another week or so to clear it. It’s totally inefficient and that’s the main reason why I signed up with payoneer. They also has a video showing step by step on how to use their US routing account with Amazon affiliate. It’s totally easy to use! Like you, I also will rank this service as LEGIT =)

    Reply
    • Den says

      May 27, 2017 at 13:33

      Hi Isaac,

      I am glad your problem with getting.your Amazon commissions is solved by Payoneer. This payment system is really helpful for Amazon Associates as well as those places not served by PayPal.

      Thanks for the comments,

      Den

      Reply
  2. Darmendra says

    May 26, 2017 at 22:05

    Nice review about Payoneer. I am a PayPal member because I feel supported by any fraud that may happen. But I think we always have to be open to other options, especially when they offer more benefits and if the costs can be lower. I think I’ll take a look on Payoneer website to know more about their different services.

    Thank you for your review.

    Reply
    • Den says

      May 27, 2017 at 07:50

      Hi Darmendra,

      Payoneer is a good alternate to PayPay. For those Amazon Affiliates who are from outside of the US, this payment service will solve your problem. As you might already know Amazon does not pay by PayPal and they only pay by direct deposits to US bank accounts, Amazon Gift Check, or Amazon Check.

      Amazon check is hard to encash in other countries and the Amazon gift check is out of the question. Payoneer will give you a US bank account where Amazon can pay you.

      Payoneer will also issue you a Payoneer MasterCard which you can use as a normal MasterCard to withdraw money or make purchases anywhere.

      Thanks for the comments,

      Den

      Reply
  3. Johel says

    May 23, 2017 at 20:26

    I like the fact that you took the time to explain what a payment gateway is for those of us who might not have known. Also, the way you broke down the different tools and features of payoneer was great. Very detailed article with all the information needed. You definitely help to simplify the process of deciding whether or not it was right for me. Thank you!

    Reply
    • Den says

      May 25, 2017 at 09:47

      Hi Johel,

      Payoneer is a good payment gateway especially for those websites not using PayPal like Amazon as this is a very good alternative to PayPal.

      Thanks for the comments,

      Den

      Reply
  4. Eric says

    May 23, 2017 at 02:07

    Thank you for a very informative post about Payoneer. I generally do end up with prepaid cards and use those often to make purchases. What I was wondering about while reading your post. Is this something like PayPal where you link a bank account first? Or can you simply just sign in and use whatever MasterCard that’s available?

    Reply
    • Den says

      May 23, 2017 at 08:25

      Hi Eric,

      Payoneer will issue you a Payoneer Debit MasterCard after you sign up. You can use that card for purchases if it has a load as it is only a Debit MasterCard. You can receive payments from online merchants that support this card like Amazon. Amazon do not accept PayPal so Payoneer is a good alternative.

      Thanks for the comments,

      Den

      Reply
  5. Ryan says

    May 22, 2017 at 08:09

    Hi, Den.
    Thanks for this review on Payoneer.
    I’ve been signed to their website for months now and have not had any complaints although I’ve only made small transactions thus far.
    Although I’ve had my suspicions on global money handling but it’s good to know that other customers are enjoying a similarly pleasant experience.
    Do you use Payoneer yourself?

    Reply
    • Den says

      May 22, 2017 at 08:34

      Hi Ryan,

      I have also the Payoneer Mastercard and I am using it on Amazon. So far I have no complains and I hope not in the future.

      Thanks for the comments,

      Den

      Reply
  6. Mitch says

    May 21, 2017 at 15:31

    Thanks for the information on Payoneer. I was not aware of their services and this sounds like a good alternative to Paypal for Amazon. Do You have more information on API integration?

    Will Payoneer work with small business like the PayPal buy now button? Thanks for a great article on Payoneer.

    MItch

    Reply
    • Den says

      May 22, 2017 at 08:31

      Hi Mitch,

      Payoneer is a good alternative for Amazon as Amazon do not take PayPal. It doesn’t have the services like the PayPal Buy Now Button.

      Thanks for the comments,

      Den

      Reply
  7. Angela says

    May 20, 2017 at 02:07

    I think the money scammers, and wire transfers thieves have run their course with the two major wire companies and eventually and I hope will not prey upon the Payoneer as well.

    Hopefully they can supply quality wire transfer to their customers, because I know Moneygram and Western Union have tighten up their reigns as their process of sending and receiving money into other countries.

    I personally will have to check out Payoneer more, but thank you for some great information.

    Angela

    Reply
    • Den says

      May 22, 2017 at 08:29

      Hi Angela,

      Payoneer is a good alternative to PayPal. It will not surpass PayPal as the payment of choice online but to those countries where PayPal is not available this is a blessing.

      Thanks for the comments,

      Den

      Reply
  8. Den says

    May 18, 2017 at 14:37

    Hi,

    Payoneer is very much useful with Amazon. As you might already know Amazon is not accepting PayPal so Payoneer is a very good alternative.

    Thanks for the comments,

    Den

    Reply
  9. HappyB says

    May 16, 2017 at 13:24

    Payoneer certainly seems to be offering some good payment alternatives. Paypal can be problematic in some countries, like China and I was hoping Payoneer might offer a solution, but Ali Baba and Ten Cent seem to have that market pretty wrapped up. with Wee Chat and Ali Pay.

    I am not sure where in the world it would be useful now. Thanks for a really good article though. I was not even aware of Payoneer until I read this. Maybe they will find a niche where it is advantageous to use them later. Thanks again for an interesting article.

    Reply
  10. Arta says

    May 10, 2017 at 23:10

    Hi Den

    I was just looking for information on Payoneer. Payoneer is offered by Commission Junction as one of the payment options. For me, as a non-US resident, Payoneer seems to be the most convenient and cheapest option to receive money from Commission Junction and also from Amazon. So I will try them out. Thank you for the review.

    Reply
    • Den says

      May 11, 2017 at 17:54

      Hi,

      Payoneer is a very good payment solution for those places where PayPal is not available.

      Thanks for the comments,
      Den

      Reply
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