I was searching for Payoneer freelancer review and report on the web, wondering to see the global ranking of them in payment solution industries.
Having used Payoneer since 2012, as a freelancer, I need to get paid by marketplaces and clients from abroad. Put; I haven’t faced any issue with Payoneer.
Using their cool stuff and incredible system, I must say they are the best payment gateway I have ever used.
The company was founded in 2005 with a unique payments model to serve worldwide money transfer and payment processing. Payoneer is getting popular in American freelancer. According to MTC, they have 82.8% score in average rating.
Payoneer is one of the fastest-growing companies in North America. They rank 34 in the list of 500 fastest-growing media, technology, life-science and telecommunications companies.
They have 4 million registered users from more than 200 countries. The company provides payment solution in 150 currencies.
If you ask, “what is Payoneer?” In this review, I define Payoneer as a borderless B2B payment solution company.
Table of Contents
- Payoneer Freelancer Review: Get Paid by 3,500+ International Companies and Freelancer Marketplaces
- Why Payoneer is the best payment platform for freelancers
- Payment methods and How Long Does It Take to Receive Payments
- Advantages of Payoneer Mastercard
- Disadvantages of the Payoneer Mastercard
- How secure is Payoneer? Is it a scam?
Payoneer Freelancer Review: Get Paid by 3,500+ International Companies and Freelancer Marketplaces
Before you know more, how secure and reliable this online payment gateway is! You could be pondering why does Payoneer continue to command a substantial online presence?
Why Payoneer is the best payment platform for freelancers
If you have been out of the Payoneer payment system, a lot of revolutionary changes have kicked into the gateway. And I don’t think I am having enough of it any soon.
As Payoneer is one of the most trusted online money transfer networks, they have managed to pull off a lot of innovations than its peers in the market today.
It is making this the best online payment system that has stood steadfast in providing freelancers and freelance marketplaces with user-friendly tools.
It implies daily; users can pay and equally get paid across the world, a similar convenience experienced in their home countries. I happen to be passionate about how fast and flexible the system handles its services.
Additionally, they offer some of the affordable rates, worth way above the quality services they provide. If you happen to use Payoneer services and products today, why would you still find it a remarkable platform?
Point 1: The smooth sign-up process
Firstly, their sign up process is one of the most thrilling ones, with two options for signing up on the platform; as an individual or as a company.
After choosing your appropriate preference, you can proceed to fill up your specific unique details in a step by step short, precise form.
The best part, immediately after signing up with Payoneer, they will notify you by the email that your application process is complete and has been received.
Consequently, you will also get an email notifying you that your account is active and has been successfully approved.
Before I understood more about this best payment gateway, this gave me a gist of what I expected.
Point 2: The signup bonus and commissions
Now, this might sound unbelievable to you. The moment you sign up for a Payoneer account, whether through an affiliate link or otherwise, this digital payment gateway sends you a one-time bonus of $25. Immediately, you receive through the account your first $1000 worth of transactions.
Now that is amazing. Well, the fun doesn’t stop there. You can make a lot of money through their affiliate marketing program, the moment you refer a friend or anybody to sign up using a sign-up link.
You can quickly achieve this by sharing the unique link to blog posts, social media, emails, articles, and others.
Using the referral link, once they sign up for an account and equally run transactions worth $1000; you earn an extra $25 to your account.
That tells you can make a lot of money, through the affiliate program itself, the more and more people you introduce to Payoneer services and products.
Point 3: Connecting to the local bank account
Additionally, they facilitate a very smooth process when you need to connect your Payoneer account with your local bank of choice.
If you happen to own the invaluable Payoneer debit/credit card, you are still able to withdraw funds from your local bank without any inconveniences.
Just a quick notable compliment; you will notice that this is one of the leading payment platforms that send funds seamlessly and quickly to their freelancers.
Point 4: Exchange rates benefits
As opposed to many famous brands including PayPal, Payoneer boasts less transactional charges on its clientele base, which can be as low as $3 for every transaction.
Therefore, the fact that they have high exchange rates, this could trickle earnings of cents in dollars to your cumulative cash flow.
Point 5: Payoneer Fees & Charges
Payoneer is not a charity payment gateway; hence, they charge significantly less in maintaining your account.
Also, Payoneer users with money in their accounts enjoy the cheapest and easiest way of receiving funds from any Payoneer account holder.
However, they cap the limits of the much you can send with a minimum of $20 and a maximum of $1000 per transaction.
When I compare the transfer limits of Payoneer with other e-commerce payment platforms, Payoneer is way cheaper and saves on costs in the long run. It is why this is the best payment gateway for small businesses.
Moreover, with a powerful capability to process transactions for over 150 currencies worldwide, Payoneer is an excellent option for those handling the large volume of sales.
They provide you a virtual account in the international marketplace that will facilitate quick processing.
Excitingly, if you happen to be within the US, the dollar itself attracts as low as just as a 1% fee on the transaction while credit card processing is slightly higher than 3%.
Payment methods and How Long Does It Take to Receive Payments
If you join this best payment gateway today, you stand to enjoy the convenience of using two payment platforms to receive your funds. It includes payments through your local bank transfer or the use of the global transfer.
To transfer funds via withdrawal to a bank service from the account takes about 2-5 business days. You will also be notified immediately of such transaction via email.
The Payoneer Mastercard
As much as Payoneer is efficient and effective, it takes payment convenience a notch higher by offering a unique MasterCard-debit card.
If you are in the US, you can get this card free of charge while making the application in a period of fewer than three weeks.
But this is also pegged on where you live. In some countries, this might take longer. What’s more, this is the only Debit card used worldwide and at the same time obtainable at no cost.
In reality, no card is void of imperfection. It is why you need to know the pros and cons of using the Payoneer card.
Advantages of Payoneer Mastercard
- The card allows you to receive payments from many affiliate networks without the necessity of owning a bank account.
- The account is maintained in US dollars, and payment can be effected within less than 2 hours of waiting. Expect to receive your money way faster than most PayPal and most of other payment gateway alternatives available in the market. You can use this card not only to accept payments from companies in the US but also monies from other sources like US social media accounts like Facebook, Yahoo, and Google.
- The card attracts a very low-cost fee structure through smooth processing.
- Payoneer has in place a stable round the clock support team to provide you with whatever information you need on use of the Payoneer card. You have the option of, making a call, live chatting, or sending the team an email for a quick response.
- In the US, once you have your account approved, the Payoneer payment platform gives you an option of owning a US checking account.
- You can use this checking account to update your Amazon associate payment profile for Amazon to send direct payments to your checking account. If you do find it necessary, you can proceed to make withdrawals of such funds and via any ATM globally that has the Payoneer MasterCard logo. The same can apply to any acceptable MasterCard.
- As a professional freelancer, you stand to enjoy the convenience that comes with the fact that Payoneer MasterCard is integrated with most of the freelancing websites as a withdrawal option. Some of these include Fiverr, Freelancer, Odesk, Elance, and a lot more.
- Using your Payoneer account, you can withdraw money from PayPal or Moneybookers using your Payoneer card. It is facilitated through the US payment service. All you need to do is sign in to your PayPal account and withdraw the money straight into your Payoneer MasterCard.
- Payoneer MasterCard works just like any of your prepaid debit card. You can use this card to buy any stuff from your local hypermarkets, supermarkets, or any other store, ATM, and online stores that accept the MasterCard. It includes small outlets and setups like hospitals, chemists, and many more places.
- Furthermore, while carrying out your online business, there so much you can do with a Payoneer card. You can use the card to buy software including your computer antivirus, any goods, and services from Amazon or eBay, pay for hosting or domain fees.
- Once you utilize the Payoneer affiliate program with your Payoneer card, you gain the $25 every time you use affiliate links to bring in a friend into the platform. But also you earn an extra $50 Google AdWord credit.
Disadvantages of the Payoneer Mastercard
- Depending on the type of account you own, you might incur high withdrawal costs in every transaction, including Forex rates. Even though Forex rates themselves might be low, Forex support associated services to this best payment gateway isn’t as high. It can be a turn off sometimes.
- Additionally, when renting the Payoneer card, their transfer fees are relatively high. It is also dependent on the country of origin and the currency in use. Such charges are also notable when handling the card-related transactions over the ATM.
- When handling private payments, they have an upper limit. It can be a hindrance to freelancers who might receive high payments from your clients, and you need the lump sum amount in urgency. Remember, as I mentioned earlier, this maximum limit is capped at 1000 USD sent privately at a single time. Unfortunately, this limit cannot be adjusted upwards.
How secure is Payoneer? Is it a scam?
Payoneer is never a scam. It is an international payment gateway that is a professionally run company providing digital payment solutions every single minute globally.
Just like other players like PayPal, it commands a reliable global acceptance. It is widely used by so many leading corporations worldwide for mass payment systems. It includes Google, Amazon, eBay, and a lot more.
It prides itself as the best payment gateway that is very secure and safe for carrying out your transactions. The Payoneer API system further complements this in carrying out global operations safely.
But this doesn’t mean they are not keen on upgrading their security systems as time changes. It is a part of the reason why you are required to apply using your Government ID and utility bill to confirm your locational address.
For any freelancer, affiliate marketer, blogger, or professional in need of a reliable and secure best payment gateway, count on Payoneer to live up to your expectations. It is your ultimate option when it comes to cost-cutting, time-saving, and ease of use.
I hope this Payoneer review keeps you a step ahead towards the payment alternative of choice. Also, it will help you send, receive money online fast and safely. It includes the convenience of executing all your digital payments smoothly.
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