PayPal vs. Payoneer: Which one Better


Whenever people start an online business, a blog or an e commerce site. They do it for the same reason, to make money. Most people since the early 2000s have vouched for PayPal. Today everybody knows PayPal, probably because of its charismatic founder Elon Musk. Whatever may be the reason for its popularity, it has been the go to online payment option for many people. Yet they are not aware of other options. One such option is Payoneer.

Payoneer started way back in 2005, since then payoneer has grown to 3 million users across more than 150 countries. So if you are a small to medium online enterprise, which one should you choose. Well it can be difficult choosing between these two awesome financial service providers, this comparison should help you make a smart decision

How to they work?

Signing up on PayPal is easy just input your online account, get them verified and add in your card information and get started with just two simple transaction. They do this to verify the authenticity of your credit/debit card.

Signing up for Payoneer takes longer. They provide you with a physical card, so they identification documents and photographs  from you in addition to the online sign up and yes this would take around 2-3 business days depending upon their policies in your region. Last step, you get a card in the mail.

How much do they charge you?

Now if you research online,  PayPal is said to be slightly more expensive than Payoneer, if you are anticipating a multitude of transaction in the future this small difference can add up to a huge cost to you. So what are their charges? If you check the faq section on PayPal’s website, shopping from your PayPal account if free, but the seller would need to shell out 2.9% of each transaction plus $0.30 usd of the amount you receive.

PayPal also offers you PayPal master card, this allows you to access the funds in your PayPal account. But it does come with charges, which include but not exclusive to the following.

  • $1.50 per atm withdrawal
  • $3.00 per signature withdrawal to obtain cash


Payoneer has a different payment structure. They offer a physical card by default, some of their charges are listed below.

  • $5.00 at the time of card activation
  • $3.00 to $1.00 monthly maintenance fee
  • $1.35 per atm withdrawal

The objective of this article is to prove to you that there are other financial service providers out there. The following comparison has been based on experience and data available on both the service providers’ website. In any case,  get in touch with these companies and find out the fees to start, stop and maintain services before signing up. It’s better to be prudent in the beginning then being a fool later right??


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