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Is Payoneer right for you? Everything you need to know.

Payoneer CommunityPayoneer Community
February 4, 2023

Payoneer is the world’s go-to partner for digital commerce everywhere, used by millions of businesses worldwide to send and receive payments internationally.

If you’re a small to medium sized business, needing to pay international suppliers or contractors or get paid from overseas clients at a competitive exchange rate, and you’re looking for a low cost, easy, and secure payment platform to do so, then Payoneer is here to help.

Who is eligible for a Payoneer account?

Broadly speaking, you’re eligible to use Payoneer if you fall into one of the following categories:

  • Service providers & freelancer agencies: These customers get paid by their clients or via online marketplaces for the professional services they offer.
  • Online sellers:  These businesses get paid by ecommerce marketplaces for the goods they sell.
  • Small to medium sized businesses (SMB): These companies need to pay or get paid for goods or services that they offer.
  • Marketplaces or enterprises: These clients need to send mass payouts to their payees throughout the world.


Who is Payoneer not the right solution for?

Payoneer is the right solution for you if you are making or receiving business payments. If you are looking for a money transfer platform to send or receive money between family and friends, unfortunately, you won’t be approved to use our service.

Don’t worry, though, there are plenty of other good money transfer services out there, such as Western Union or MoneyGram, which can provide you with a remittance service (small-scale personal transfers of money sent by individuals to family or friends in their home country) and help you send or receive money between family and friends globally.

Likewise, if you are looking to open a Payoneer account solely to receive a prepaid card, unfortunately you will also not be approved.

Other types of businesses who are not eligible for a Payoneer account include businesses operating in restricted industries. Payoneer may not be able to provide services to businesses operating in certain restricted industries, such as gambling, adult entertainment, or illegal activities. In addition, Payoneer’s services are not eligible for those under the age of 18.

What other services does Payoneer provide?

  • Global Payment Solutions: Payoneer offers a platform for businesses to send and receive cross-border payments in over 150 currencies. This includes the ability to send payments via bank transfer, credit card, eCheck, and more.
  • Multi-Currency Receiving Accounts: Payoneer enables businesses to open multi-currency accounts, which allows them to receive payments in multiple currencies and convert them at competitive exchange rates before withdrawing to a local bank account.
  • Global Payment Service: Our Global Payment Service is a collection of local receiving accounts that allow businesses to receive payments from companies located in various countries. This eliminates the need for businesses to have a physical presence in each country where they receive payments.
  • Make a Payment: Our Make a Payment service is a simple and efficient way for businesses to pay their suppliers, vendors,  partners and even VAT around the world in a variety of currencies. This helps reduce the time and cost connected to international payments. 
  • Payment Request: Our Payment Request tool enables businesses to create and send professional invoices to customers, making it easy for customers to pay online.
  • Integrated Payment Solutions: Payoneer offers integrations with various e-commerce platforms, marketplaces, and payment gateways, making it easy for businesses to receive payments from customers worldwide.
  • Working Capital: Payoneer offers financing solutions to help businesses manage cash flow and grow their business. These include receivables financing, supplier financing, and working capital.
  • Compliance and Security: Payoneer has extensive compliance and security measures in place to ensure that all transactions are safe and secure. This includes robust fraud detection and prevention measures, as well as compliance with global regulations and standards.

Sounds good, tell me more

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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