Payoneer

Payoneer is a cross-border payments service for freelancers, marketplaces, and businesses that send or receive money internationally. Founded in New York in 2005, it provides multi-currency receiving accounts and a Mastercard card.

What is Payoneer for?

Payoneer lets you receive payments from platforms like Upwork or Fiverr, invoice clients abroad, withdraw funds to your local bank account, and pay contractors. It provides local bank details in several currencies (USD, EUR, GBP). This description is strictly factual and does not constitute financial advice; terms and fees should be checked directly with the provider.

Payoneer or Stripe?

Compared to Stripe, built for collecting payments on e-commerce sites, Payoneer mainly targets receiving international income and withdrawing it to a local account. Shopify sellers and marketplace vendors use it to repatriate their earnings. The model runs on transaction fees, not a monthly subscription.

How much does Payoneer cost?

Payoneer charges on a usage basis. Receiving from a marketplace costs around 1%, a card payment up to 3.99%. Same-currency withdrawals cost $1.50 (under $50,000/month), currency conversion up to 2% above the mid-market rate. An annual fee of $29.95 applies if less than $6,000 is received over 12 months.