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Home / Payments Hub / Payoneer vs Paypal The Pros and Cons of Using Payoneer Vs. Paypal for Payments Payoneer vs PayPal at a Glance The key differences between Payoneer and PayPal lie in the transfer fees, security, network relationships. Payments through PayPal are more secure and come with lower fees than Payoneer transactions. PayPal’s larger network and international currency capabilities make it easy to send payments around the world. Transfer speeds with PayPal occur within 1-2 business days, while Payoneer transactions occur within 0-3 business days. Whether you’re growing a small business or starting a remote team, making payments to international freelancers can be a costly process. How you pay people has a significant influence on timing, fees, and ease of use. When it comes to making global payments, you need a financial services company that will meet your organization’s needs. Here we compare Payoneer vs PayPal and consider which one of these payment options might work best for you. GET THE E-BOOK: AVOIDING THE RISKS OF FINANCIAL FRAUD Who is Payoneer? Founded in 2005, Payoneer is a financial services brand that’s a platform for online money transfers, digital payments, and providing customers with working capital. They are also a worldwide Member Service Provider of Mastercard. Companies that use Payoneer include Airbnb, Google, and Fiverr. Pros Payoneer supports over 200 countries with 150 local currencies. The financial payment service gives you the ability to directly withdraw funds with a debit card, as well as send and receive funds domestically and internationally. Payoneer fees are slightly high at $3 per transfer but are free to receive. If you live in the United States, you can also make payments using an e-check. The Payoneer Billing Service allows you to pay other Payoneer customers with ease, and they also offer a mobile app. The prepaid Mastercard (not Visa) the brand issues facilitates transferring funds. It can be used as a debit card for any type of transaction, including e-commerce. Payments are sent to Payoneer Mastercard, rather than going into your online account (and then transferring to a local bank account). This means less of a hassle if you need to acquire funds quickly. The card can be used at any ATM in the world but has a maximum daily limit of $2,500. According to the fee structure, they will also charge you an average of 1% of the transaction in foreign exchange fees. Payoneer has a help desk with a customer support system and a collection of resources to build your knowledge base. The company has offices in multiple countries and is available via email, phone, and live chat.