First I would like to tell you that Paypal is the online payment system which is fully reliable and the well-known system it is best for online shopping, receiving and sending payment all over the world but there is a match competition which is Payoneer.
So, you want to work online or purchase online but you don’t have online payment account or Mastercard then no need to disappoint because we have the better option for you.
I am comparing Paypal and Payoneer so you can better understand which is good for you, the comparison is pointing out for reliability, security, and flexibility.
Just because Paypal is an old and reliable online payment system it will not support you, because of some country restrictions.
Its has some restricted countries like Nepal, India, and Pakistan but Payoneer offers you to use easy payment transaction with local bank or master card.
There are several online payment systems for freelancers and you read it on PayPal alternatives for online payment system but I am pointing out Payoneer and Paypal because it is the only payment system that could match the Paypal with optimistic and secure payment system.
Marketplace supported by Paypal and Payoneer:
For online jobs like Freelancer, Up work (Odesk) or some other online platforms that give you money for doing online work they changed the whole world, they give the opportunity to earn even if you are jobless.
These online platforms changed the online business system but they all supports Paypal for several years, now they are linking with Payoneer because it is dominating the market as fast and they know they have to link with it so they could get more Freelancer.
You all need to work online and boost your business faster so it offers you the reliable service for the transaction of payment, also gives your the faster service within 24 to 48 hours.
I am personally using Payoneer that’s why I prefer it for all freelancer and online workers; you can follow step by step procedure to create Payoneer account.
It’s not always the old is gold, sometimes old needs to change with the new one, we can take the example of Yahoo which is older than Google but when Google search engine launched it took down Yahoo in several ways.
Payoneer and Paypal transaction period:
So, if we talk about Payoneer then you should know that is not old but it is an advance system, also it gives your faster transaction and it guarantees you to complete the job within 24 to 48 hours.
While Paypal takes about 3 – 5 days for a transaction, where it takes too much time for transaction and verification process on the other hand Payoneer takes less than 75% of its transaction time.
Payoneer is easy to link your local bank account, it links almost all countries local banks but in case it does not link to your local bank then you have the Mastercard for swift withdraw.
Transaction fees and activation charges:
You should know about the transaction fees, Paypal charges higher then Payoneer because of a reliable and famous payment system.
It also charges $5 plus other charges for every single 100$ but Payoneer charges only 3$ include all other charges so it is better to choose the one which has lower transaction and activation fees.
Keep in mind that Payoneer will deduct annual fees from your account which is $30 for a single year, It also deducts some charges for master card activation from your account but only when you have some amount.
Experienced and country support:
If we talk about experience, we can call to PayPal because it is very old payment transaction system, as we know that Paypal first launched for Ebay market and have experience of more than 18 years.
Another thing is country support, we all know that Paypal is best and working in every country of the world but it does not support some lower class countries like Pakistan, Nepal, India and other several countries.
In that case, Payoneer supports almost every country and gives you the Master card fully activated to do some online business and receiving payments.
So, what you have learned:
You can use both online payment systems because it is better to have multiple accounts but if you are in the country where Paypal is not supporting then you must have Payoneer account to work online.
Share your ideas in the comment box below so I can update the article with your views of Paypal and Payoneer.