The digital economy — built on the ability to sell and purchase products and services online — has had a profound impact on businesses around the world. Among the most noticeable changes are an almost instantaneous access to a gigantic market, and, inevitably, an intensification of global competitive pressures.

As a key enabler of the digital economy, Payoneer took a closer look at how the digital economy has affected countries and people in the world. Here are some of the unique insights into the careers, lives, and aspirations of some of our most experienced and successful customers in 11 countries in Asia — Bangladesh, China, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Thailand, and Vietnam.

The Big Equalizer

From Pakistan to The Philippines, the digital economy has ignited the entrepreneurial spirit everywhere, helping people generate extra income, often replacing traditional sources of income in places where local jobs were lacking. It has been a big equalizer for people who have been able to pursue their dream jobs, no matter where they live in the world. Goodbye 8 to 5; hello freedom!

Is this opportunity available to everyone? Barriers still exist, whether it is language, marketing skills, or access to capital. But for the most part, the internet and marketplace platforms have alleviated these challenges. Fear of change might be the only real barrier left. Anybody with a fire in their belly and a good idea can participate. The digital economy has opened the doors to a world market from the comfort of one’s home.

Money, Money, Money

Many digital workers have become very successful financially. Money is far from being the most important benefit though. Freedom and independence are even more valuable to them, especially when it comes to managing their own time. Successful digital entrepreneurs have been able to enjoy their new financial resources. This means they can travel to places they wanted to visit, or live in a country they love — where life is more affordable — while working on their business. Of course, what has made this win-win situation possible for buyers and sellers is the creation of highly efficient online marketplaces that have opened global markets to entrepreneurs like never before.

A New World View

Participants in the digital economy say their world has become bigger and smaller at the same time. Bigger because business opportunities are larger; smaller because the world is so much more accessible. Participants have been able to build successful relationships, even friendships, with buyers and clients all over the world. With this has come a deeper sense of trust between people.

Although in many cases the digital component of the new economy has eliminated human interactions, this new economic system has allowed the best of human nature to shine in new ways. Overall, participants feel confident about the future of their country and of the world. They are sharing their recipe for success with friends and family, and are supporting each other through online and offline communities.

Wish List

Optimism runs high among digital workers in Asia. Most of them feel that there is so much more to do, starting with separating business and politics, giving equal opportunities to everyone in all countries, but also the ability to be paid instantly, website pages that get translated automatically, and backend systems that communicate seamlessly with each other.

Read our full ebook here for more facts and insights, and feel free to share your comments or questions.

The Freelance Economy has been rapidly increasing in the last years, and more people than ever are deciding to jump onto the freelance wagon. In fact, according to a recent report by Elance, more than 1.15 million professionals have signed up as freelancers in the last year alone!

Payoneer recently carried out a Global Payments survey for Freelancers, and found very interesting information regarding the preferences professionals have regarding receiving their online earnings. One of the questions we put forward was their preferred payment method.

Do you agree with the preferred method to receive freelance earnings below? Don’t be shy and let us know in the comments 🙂

Are you curious about how other professionals receive and use their online earnings? Stay tuned for future blog posts with more interesting info!

We were recently contacted by veteran oDesk freelancer and Payoneer account holder Lois Eva Adongo, regarding her experience using Payoneer as a payment solution for oDesk. Lois offers affordable business plan writing services on oDesk and is also the digital content strategist at the “Make a Living Freelancing” blog.

This is what she shared with us:

My name is Lois Eva Adongo. I am a thirty something Kenyan currently living in Yangon, Myanmar. 

I have  hands-on experience with startups as well as with established organizations; in the conceptualization, design, implementation, monitoring and evaluation of mobile, telecommunication, and branchless banking services in emerging economies including Uganda, Haiti, Afghanistan, and Kenya. An MBA graduate, I have also been providing small businesses with affordable and high quality business plan development services.

In April of 2009, I decided to move my business plan consultant services online through the oDesk platform in an effort to utilize knowledge from my MBA days. Almost immediately, I started getting contracts. But the greatest challenge I had was how to get paid for my freelancing services.

Initially, I used to request for electronic bank transfers to my Kenya shillings account. This proved to be a very costly option; so naturally, I started hunting for alternatives. Before long, I landed on Payoneer’s Prepaid Debit Mastercard. I applied for a card and in less than one month, I had received it.    

 Are you satisfied with Payoneer? Do you have any comments?

Sure. No regrets whatsoever. I’m an avid traveler who is also a risk taker. I have travelled to 30+ countries and lived in some very difficult ones. But one thing I love about Payoneer is that it never failed me even once. Anywhere there is a Mastercard logo, I have been able to use it. Even while I lived in Afghanistan back in the day, I was able to use my card. Additionally, when I wanted to verify my PayPal account, I used my Payoneer card. Thank God by then I had earned some cash from oDesk so I didn’t have any problem with topping it up.

Would you recommend Payoneer to other oDesk freelancers? If so, why?

Absolutely. So far, Payoneer is the cheaper option when it comes to withdrawing funds from oDesk.  In Kenya for instance, to receive your oDesk earning via bank transfer costs a whooping US$30, while with Payoneer, it can cost as little as US$1 if you are patient to wait for 2 working days. Otherwise, it only costs US$2.50 for immediate loading. And the best part, you get your money in US$, so no foreign exchange losses incurred.

Besides, Payoneer offers a safe and convenient way to pay for online purchases. I use Payoneer all the time to book my airline tickets and hotel accommodation.

Last but not least, Payoneer through its Refer-a-Friend program is an opportunity for earning extra income for telling others about the card’s benefits. Personally, I have earned substantial commissions by promoting the card to my blog’s visitor.

This is my 5^th year of using Payoneer Prepaid Master Debit Card and I have nothing negative to say about it.

ClickBank and Payoneer have an established, official partnership that provides Payoneer users with a simple way to receive their ClickBank earnings.

This partnership is ideal for sellers or affiliates who want to receive their ClickBank payments straight to their Payoneer account–which allows them to withdraw funds at any time from their bank account in their local currency or use their Payoneer Prepaid Mastercard.

Interested in becoming a seller or affiliate on ClickBank? Learn more here.  

If you’re using ClickBank but do not already have a Payoneer account, you can learn more and sign up here.

A ClickBank-Payoneer connection allows sellers and affiliates to:

• Get paid by marketplaces and international clients as if they had their own local bank account
• Access their funds anywhere in the world in just minutes
• Withdraw funds directly into their local bank account at competitive rates
• Use their Payoneer account to pay suppliers, contractors or others directly from their Payoneer balance.
• Receive their payments in USD, CAD, GBP, EUR, SGD, HKD and more
• Manage their Payoneer account online or via the Payoneer mobile app
• Access to 24/7 multilingual support via chat, email, or phone

Once your Payoneer account application is approved, you will receive an e-mail with the details of your receiving account. This information will be used to connect your Payoneer account to your ClickBank nickname account.

Follow these simple steps to connect your ClickBank account with Payoneer.

Step 1)    Log into your ClickBank Account

Step 2)    Click Accounts

Step 3)    Select the nickname account you want to connect to Payoneer to receive payments.

Step 4)  Select Account Settings.

Step 5)  Scroll to the Payment Information section and click Edit.

Step 6) Select the Direct Deposit radial button.

Step 7: Select United States from the Bank Country dropdown menu.

Step 8: Enter your US Payment Service Information as shown on your Payoneer Account.

Step 9: Click Save Changes.

Open a Payoneer account