4 Ways to Pay Your Global Contractors

Have you received a Payoneer payment request from one of your international contractors, suppliers, or business connections?

Sign in regularly to check the status of your payment requests and pay any new payment requests you receive. Bookmark the URL https://login.payoneer.com.

Depending on where you are located, you will have several different payment methods to choose from to pay the payment request, including: ACH bank debit, local bank transfer, credit/debit card and your Payoneer account balance.

In this post, we outline everything you need to know about these four payment methods.

1. What is an ACH bank debit?

An ACH bank debit is an electronic payment that debits funds directly from your bank account. ACH bank debits are processed through an Automated Clearing House (ACH) Network, making the transaction fast and highly secure.

Paying a Payoneer Payment Request via ACH bank debit

If you are located in the United States, you can pay via ACH bank debit.

 You can complete an ACH bank debit payment in 3 easy steps:

1. Click the ‘Pay Now’ button in the payment request email you receive.
2. Choose ‘ACH bank debit’ from the list of available payment methods.
3. Enter your checking account details.

2. What is Local Bank Transfer?

A local bank transfer is the electronic transfer of funds from one bank account to another bank account in the same country.

Paying a Payoneer Payment Request via local bank transfer

Payoneer offers receiving accounts via our Global Payment Service. This service enables Payoneer account holders to receive local bank transfers from companies and marketplaces in the US, UK, EU, Japan, China, Canada and Australia directly to their Payoneer account.

1. In the payment request email from Payoneer, you will find the recipient’s local bank account details.
2. Initiate a domestic bank transfer from your bank’s website, app, or branch.

3. What is a Credit or Debit Card?

Credit cards are one of the easiest and safest international payment methods. Every business owner has at least one credit card and they come with chargeback protection, which is an added plus. At Payoneer, we accept credit and debit card payments in USD, EUR and GBP.

*Cannot be used for domestic payments in India. Cannot be used in the Dominican Republic.

*The minimum amount can vary between 20-50 USD/EUR/GBP

Please note: Credit card transactions about $2,000 may require you to present ID or Certificate of Incorporation (if representing a company).

Customers can complete a credit card payment in 3 steps:

1. Click the ‘Pay Now’ button in the payment request email received from your contractor.
2. Choose ‘Credit Card’ from the list of payment methods in the Payoneer platform.
3. Enter the billing address, credit card number, card expiry date, and CVV number.

4. What is a Payoneer Balance?

If you have a Payoneer account and you use it to accept payments from your customers, you will accumulate a Payoneer account balance. You can use this balance to pay Payoneer payment requests.

Paying with your Payoneer Balance

Any Payoneer account holder can pay with their Payoneer balance, so long as they have sufficient funds to fulfill the payment.

*Payoneer balance transaction limits for payments made via Payment Request.
**In rare cases, transactions can take up to 2 business days.

You can use your Payoneer Balance to complete a payment request in 5 steps:

1. Click the ‘Pay Now’ button in the payment request email you received.
2. Choose ‘Payoneer balance’ from the list of available payment methods.
3. You will be redirected to sign in to your Payoneer account.
4. Once signed in, you will need to confirm the use of your Payoneer balance to complete the payment.
5. Click ‘Pay Now’ to complete the payment.

Additional benefits of each payment method at Payoneer

ACH bank debit	Reliable: ACH bank debits are processed on the ACH Network, which is the same system that processes direct deposits.
Local bank transfer	No extra fees: With local bank transfer, you dodge the currency conversion fees you would normally pay for international wire transfers. No third-party banks: Funds do not have to be transferred to an intermediary bank before they reach the recipient’s bank account, like with international wire transfers
Credit or debit card	Multi-currency: Payoneer accepts credit and debit payments in USD, EUR and GBP. Tracking: Use your monthly statement to stay on top of your spending.
Payoneer balance	It’s FREE: Payoneer account holders can use their Payoneer balance to pay other Payoneer account holders, with zero fees. Flexible: Transfer funds 24 hours a day, 7 days a week from anywhere in the world.

So Which Payment Method is Best for Me?

The answer depends on several factors, such as your location in the world, and whether or not you have a preferred method of payment to handle your different business expenses.

Payoneer offers a variety of options to make payments as easy and smooth as possible, no matter where you or your contractor are located in the world.

Pay your global contractors today