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The Force is Strong with Payoneer Customers

Richard ClaytonRichard Clayton
May 4, 2021

A long time ago in a galaxy far, far away…Payoneer began empowering businesses to grow globally. Ok, that’s not how the movies actually start, but on this year’s May 4th, a.k.a., Star Wars Day, we thought we’d take the opportunity to highlight how Payoneer gives freelancers, online sellers, vacation rental hosts and others a Jedi-like ability to manage their payments and expand into new markets.

If you’re an existing customer, you already know how Payoneer simplifies cross-border payments through such benefits as local receiving accounts, VAT payment services and working capital. But if you’re new to the Payoneer family or are thinking of joining, read on to learn how we can help power your business growth – no Force training required.

Collecting Payments from the Other Side of the World, Without Using Your Hyperdrive

Payoneer’s local receiving accounts enable you to get paid by international clients and marketplaces in USD, EUR, GBP, CNH, JPY, AUD, CAD and SGD via local bank transfer, all without leaving your home planet (or for that matter, your home). Getting paid using receiving accounts eliminates wire transfer costs, allowing you to keep more of your funds, and gives your clients an easy way to make payments.

So, once you’ve got paid, what can you do with your funds? Well, you have several options, none of which involve paying someone to rescue a princess (unless that’s your thing).

  • Make a withdrawal – Withdraw your funds in your local currency straight from your local bank account.
  • Make a business payment – Pay your suppliers, contractors and business partners directly from your Payoneer account.
  • Convert your funds – Quickly convert your earnings into a variety of global currencies at applicable market rates.

Paying VAT and Keeping the Empire Off Your Back

If you’re a seller operating in the UK or EU, you know that paying VAT can be cumbersome and often expensive, with fees for withdrawals, wire transfers and currency conversions eating into your earnings.

At Payoneer, we decided to streamline the process, allowing you to pay VAT directly from your EUR and GBP account balances for FREE and potentially saving you thousands in annual fees. But best of all, by simplifying the payment process, you’re able to get back to managing your business without having to worry about whether the VAT authorities (let’s call them the Empire) received the funds.

Accessing Capital to Grow Your Business Without Worrying About Bounty Hunters

Payoneer’s working capital solution, Capital Advance provides you with the funds you need to grow your business. With Capital Advance, you’ll receive monthly cash injections based on your store’s earnings to help pay for ad campaigns, restock inventory, pay your business partners, or anything else you need to expand.

You’re probably wondering how you can settle your working capital advancements. Well, you can rest easy – we’re not sending out any bounty hunters to track you down. Instead, Payoneer will collect a portion of your store’s payments over an extended period of time until the advance is settled. Oh, and I almost forgot to mention that you’ll qualify for a new working capital offer every month too!

Other Jedi Mind Tricks to Help You Grow Your Business

Like the Jedi, Payoneer has an extensive list of tools and services to help you grow your cross-border business. In addition to the benefits mentioned above, Payoneer customers can take advantage of our store manager, managed currencies service and partnerships with the leading global freelance, eCommerce, vacation rental and stock photography marketplaces to get paid simply and quickly.

So, what are you waiting for? Get started with Payoneer today and, as always, may the force be with you!

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The content provided in this article including any information relating to pricing, fees, and other charges is accurate and valid only as of the date it was published. In addition, changes in applicable regulations, policies, market conditions, or other relevant factors may impact the accuracy of the mentioned pricing and fees and other associated details. Accordingly, it is further clarified that any information regarding pricing, fees and other charges is subject to changes, and it is your responsibility to ensure you are viewing the most up to date content applicable to you. Payoneer will provide the most up to date and accurate information relating to pricing and fees as part of the account registration process. Registered customers can view this information via their online account.

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