What is Payoneer: Features, benefits & how to use it

For businesses and freelancers in Thailand engaged in international trade, finding a secure, cost-effective, and efficient payment gateway is essential. As more people embrace digital transactions, online payment methods have become vital for businesses. Online payment solutions like Payoneer simplify cross-border transactions, making it easy to send, receive, and withdraw funds globally. Whether you’re an e-commerce seller, freelancer, or business owner, Payoneer provides a reliable alternative to traditional banking methods. Let’s take a closer look at how Payoneer can help streamline your international financial operations.

What is Payoneer & how does it work?

Payoneer is a leading payment gateway for global businesses and freelancers, offering a secure and efficient way to manage international transactions. With its presence in over 200 countries and support for 150+ currencies, Payoneer makes cross-border payments simple and accessible. 

The platform is beneficial for industries like e-commerce, freelancing, and international trade. E-commerce sellers can collect payments from customers worldwide, while freelancers can easily receive payments from global platforms such as Upwork, Amazon, and Fiverr. Designed to provide flexibility, Payoneer allows users to manage multi-currency transactions, ensuring smooth financial operations for businesses and individuals navigating the global marketplace.

Why choose Payoneer?

With competitive fees, fast transactions, and a robust set of features, Payoneer simplifies cross-border transactions and helps users manage their financial operations efficiently, regardless of their location.

Benefits of Payoneer over other online payment gateways

Many businesses and professionals choose Payoneer because it offers:

• Lower Fees for international transfers: Payoneer offers significantly lower fees for cross-border transfers compared to traditional banks, reducing the cost of global transactions.
• Access to a Payoneer card: With Payoneer’s prepaid card, users can make ATM withdrawals use the card to spend globally, providing added convenience.
• Support for leading platforms: Receive payments from top platforms like Amazon, Upwork, Fiverr, and many others, making it easy for freelancers and businesses to manage their online earnings.
• Multi-currency accounts: Payoneer provides multi-currency accounts, allowing businesses to hold and manage multiple currencies in one place, making financial management easier and more efficient.

With Payoneer, businesses and freelancers can access quick, cost-effective international transactions without relying on costly wire transfers or waiting days for cross-border payments to clear.

Key features of Payoneer

• Easy integration: Payoneer integrates seamlessly with online marketplaces, payment systems, and accounting software like QuickBooks, helping businesses streamline their operations.
• Secure global transfers: Payoneer offers robust security features, including PCI compliance, two-factor authentication, data encryption, and fraud detection, ensuring safe and secure transactions.
• Fast payments: Payments are processed quickly, with funds typically available within days, enhancing cash flow and financial flexibility for businesses.
• Real-time currency conversion: Payoneer offers competitive exchange rates and real-time currency conversion, ensuring businesses can minimize the impact of fluctuating exchange rates while managing international transactions efficiently.
• 24/7 Customer Support: Payoneer offers responsive customer support through chat, chatbot, and a comprehensive resource center to assist users whenever needed.¹

How to create a Payoneer account?²

Signing up for Payoneer is simple and takes just a few steps:

1. Visit Payoneer’s website: Go to Payoneer’s website and click Sign Up.
2. Choose your account type: Select the right account type based on your business needs.
3. Register for a Payoneer account: Fill in personal or business details. Provide your full name, email address, contact information, and financial details.
4. Verify your identity: Upload official documents, such as your passport, national ID, or business registration documents, to confirm your identity.
5. Submit your application: Payoneer typically reviews applications within 2–3 business days. Once approved, you can start receiving payments.

Comparing Payoneer to other payment gateways

When selecting an online payment method, businesses and freelancers often compare different options to find the best fit for their needs. Below, we break down how Payoneer compares to other popular payment gateways.

Payoneer vs PayPal

Both Payoneer and PayPal are reliable cross-border payment solutions, but they differ in terms of fees, exchange rates, and functionality.

• Transaction Fees: Payoneer typically offers lower fees for international transfers compared to PayPal, making it a more cost-effective option for global businesses.
• Exchange Rates: Payoneer provides more favorable currency conversion rates, whereas PayPal often applies higher markups on foreign exchange transactions.
• Direct Bank Withdrawals: Payoneer allows users to withdraw funds directly to their local bank accounts in the local currency, while PayPal sometimes charges additional transfer fees for the same service.
• User-Friendliness: PayPal is known for its easy setup, widespread acceptance, and buyer protection features, making it a preferred choice for online shoppers. It’s ideal for small to mid-sized e-commerce merchants seeking a quick and straightforward solution.

The main difference between the two is that Payoneer excels for freelancers, marketplaces, or companies with global clients who need multi-currency payment options. On the other hand, PayPal is perfect for business owners who prioritize simplicity and ease of use, offering payment links and QR codes for a seamless payment setup.

Payoneer vs Stripe

Payoneer and Stripe cater to different types of users, particularly when it comes to global reach and domestic payment processing.

• International transactions: Payoneer supports over 200 countries and 150 currencies, making it ideal for freelancers and businesses working with international clients. In contrast, Stripe is more focused on domestic and regional transactions, making it less suited for global businesses.
• Marketplace integration: Payoneer is widely used by freelancers, e-commerce sellers, and digital service providers on platforms like Amazon, Fiverr, and Upwork. Stripe, on the other hand, is primarily used by businesses that process payments directly through their own websites.
• Payment solutions: Stripe offers highly customizable payment processing solutions through its advanced API, making it a good choice for businesses requiring tailored payment systems. It also provides no-code tools, which makes it an appealing option for tech-savvy merchants and startups.

Which payment gateway method is best for your business? It depends on your needs. Stripe is a great option for companies that need flexibility, scalability, and advanced customization, particularly in e-commerce. Payoneer, however, is better suited for freelancers, marketplaces, and businesses dealing with cross-border transactions.³ 

Benefits of using Payoneer for international money transfers

Payoneer provides Thai businesses and freelancers with a cost-effective, secure, and flexible way to manage online payments and global transactions. Here’s how:

• Collect earnings from overseas clients: Freelancers and service providers can easily receive payments from international clients across platforms like Upwork, Amazon, and Shopee, ensuring timely and seamless transactions.
• Manage payouts to global suppliers: Businesses can use Payoneer’s multi-currency accounts to pay international suppliers in multiple currencies, reducing the complexities and fees typically associated with cross-border payments.
• Handle recurring subscriptions and payments: Payoneer allows companies to automate recurring payments for subscription-based services or monthly supplier payments, ensuring consistency and minimizing administrative tasks.

By using Payoneer, businesses and freelancers can simplify payment transactions while reducing currency conversion fees and payment delays.

Simplify your global payments with Payoneer

Integrating a secure payment gateway like Payoneer is essential, but it's just part of the equation. To elevate your business, partnering with a reliable logistics provider like DHL Express Thailand is equally important. Efficient customs handling and last-mile express delivery ensure a seamless shopping experience for your customers, both locally and globally.

By combining Payoneer’s payment solutions with DHL Express’s international shipping and delivery services, you can offer timely, secure transactions and reliable product delivery. Together, they help e-commerce businesses exceed customer expectations. Start your Payoneer journey today and explore how DHL Express can enhance your global operations. Get instant delivery quotes and more at DHL Express Thailand.