5 Best Payoneer Alternatives For International Payment Transfer

Are you a freelancer, agency, or an international business owner looking for other safer Payoneer alternatives?

If so then you are at the right place…

The world was already on the verge of completely opting for the digital payment or transaction route. The Coronavirus pandemic situation acted as a catalyst and sped up this process.

Now, with almost all kinds of business being conducted online, the world requires a secure and reliable payment processing system. That’s where Payoneer shines bright.

In India, and most of the other countries, Payoneer comes out to be one of the best online payment transfer system. The forex is low, transaction fees are less, etc.

However, being a freelancer (or even an agency), you would know that not all freelancing platforms and clients support Payoneer. Hence it is logical to look at other alternatives to Payoneer.

Before we explore all the alternatives in detail, allow me to briefly talk about –

What Is Payoneer?

Payoneer is a financial service company that offers digital services like international payment transfers, requesting payment from merchants/clients, etc.

In simple words, Payoneer streamlines your business or freelance services by allowing you to collect or send payments through a secure environment.

Payoneer was founded in 2005 and since then it has helped several businesses to expand domestically and internationally. And, not to forget, Payoneer proves to be a boon for freelancers and agencies.

Believe it or not, in recent times, many organizations and platforms like Fiverr, Upwork, Amazon, Rakuten, CJ, Airbnb, etc. are using Payoneer.

Why Does Everyone Love Payoneer? (Pros Of Payoneer)

Here are some of the most notable reasons that make Payoneer a top choice of transferring money online –

  • It allows you to create an account for free.
  • Payoneer claims to support 150 currencies.
  • It works in 200 countries.
  • To make international money receiving easy, it provides local receiving accounts in USD, EUR, GBP, JPY, CAD, AUD, and MXN.
  • You won’t be charged any fees if you are receiving money (in USD, EUR, GBP, and JPY) from Payoneer to Payoneer.
  • Payoneer allows you to send invoices to your global customers.
  • Easy to use platform that tracks and manages your transactions, withdrawals, etc.
  • It also allows you to access your Digital FIRCs.
  • You can also make full use of its referral program.
  • If you are an Indian, Payoneer will automatically transfer the money in your wallet to your bank account daily.

Why You Should Look For Payoneer Alternatives? (Cons Of Payoneer)

Payoneer offers a lot of benefits and resources. So much that it becomes difficult to think about its demerits.

Yes, as surprising as it may sound, here are few cons that would cause you to look for an alternative of Payoneer –

  • Payoneer has set $100 as a minimum withdrawal limit.
  • If you are using Payoneer’s prepaid Mastercard then the withdrawal limit is reduced to $20.
  • You can only send/receive money from Payoneer to Payoneer only. You can’t receive funds from PayPal or other services.
  • It applies a currency conversion charge of 2 – 2.75%, depending on the currency.
  • There’s a 3% charge on payments received or made by credit cards (all currencies).

Just to be safe, I would suggest you have an alternative to Payoneer. It could come handy when your customer/client refuses to pay via Payoneer.

With that being said, it’s time for us to dive deep and explore all the best alternatives to Payoneer –

1. PayPal

When it comes to sending or receiving money online, none could match the efficiency of PayPal. It is one of the most recognized and popular modes of payment transfer. Hence, due to this popularity, PayPal comes out on top to be the best alternative to Payoneer.

You would be also surprised to know that apart from just money transfer functionality, PayPal also offers payment processing and payment gateway functionality. So, if you are an eCommerce business owner, PayPal is your best option.


Important Features Of PayPal

  • Unlike Payoneer, PayPal facilitates recurring payments. So if you are selling subscriptions, PayPal will collect your payments on time.
  • PayPal offers an extensive set of APIs, SDKs, and code samples to help you integrate it into your business.
  • There’s a 24×7 fraud protection feature that safeguards your business from fraudulent transactions.

Pricing & Fees Of PayPal

PayPal doesn’t charge you any setup, cancellation, or monthly fees. However, PayPal will charge you when you receive a successful payment (different for all countries).

For example, you’d charged 2.9% + $0.30 per transaction in the USA. Similarly, in India, you’d be charged 2.5%* + INR 3 for local payments and 3.4 – 4.4% + fixed fee for international payments.

Pros & Cons Of PayPal


  • PayPal is used in 200 countries.
  • It supports 26 global currencies.
  • Regarded as the safest means of money transfer.
  • Provides payment gateways & processing features.
  • Supports recurring payments.
  • Track and manage transactions.
  • Supports invoicing.
  • Offers third-party integrations.
  • Can be used on different platforms and devices.
  • PCI compliant.


  • Hefty transaction fees & charges.
  • Outside the USA, charges can go up to 4.4% + fixed charges.
  • Unsuitable for companies with large sales.
  • Freezes your account and funds if they find something out of ordinary.

2. Stripe

Stripe comes as the next alternative of Payoneer with its impeccable set of supported currencies i.e. 135+. Consequently, Strips is available for use in 40 countries as of now.

Just like PayPal, Stripe allows you to collect and send money domestically and internationally. But it doesn’t end here. Stripe also enables you to use it as a payment gateway or payment processor for your online store.

This feature has prompted various organizations like Amazon, Shopify, Booking.com, Zoom, etc. to start using Stripe for payment collection.


Important Features Of Stripe

  • It claims to offer the most powerful yet easy to use APIs so that you can integrate it into your websites and online stores.
  • Unlike Payoneer, Stripe enables you to create and sell subscription plans. This would help you collect recurring payments.
  • You also have the flexibility to customize the Stripe checkout pages to match your brand style.

Pricing & Fees Of Stripe

Just like other alternatives of Payoneer, Stripe doesn’t charge your setup or monthly fee. Although, it would charge you a small fee on every successful transaction.

The fees of Stripe are different for all countries. For example, you would be charged  2.9% + $0.30 of every card charge. In India, per transaction charge starts from 2% and goes up to 4.3% for international payments.

Pros & Cons Of Stripe


  • Supports 135+ currencies.
  • Easy to use and simple dashboard.
  • Record details of customers and every transaction.
  • Helps you set up a subscription-based pricing model.
  • Allows you to offer discounts & coupon codes to your customers.
  • On point notification system for all actions.
  • Fully PCI compliant.
  • Integration options for websites and online stores.
  • Highly secure environment.
  • Uses anti-fraud machine learning technology to prevent fraud.


  • Payment processing fees are high.
  • Integration can become tricky.
  • Stripe is available only in 40 countries.

3. Razorpay

If you are Indian and looking for Payoneer alternatives for freelancers, eCommerce business owners, or agencies, Razorpay is the best option. Razorpay is built specifically for Indian sellers, service provides, and customers.

You can collect your payments in 100+ currencies via 100+ different modes of payment. Apart from this, you can also integrate Razorpay as your payment processor and collect payments on your site.


Important Features Of Razorpay

  • Razorpay provides plenty of different ways to collect payments such as payment gateway, payment pages, payment links, etc.
  • You will have the power to create professional invoices with Razorpay. Also, you can include GST, discounts, shipping details, etc. in your invoices.
  • It offers a plethora of integration options. Some of them include eCommerce platforms like Shopify, WooCommerce, Magento, etc.

Pricing & Fees Of Razorpay

Believe me, when I say, Razorpay has the lowest fees when compared to other alternatives to Razorpay. Other than this, there is no setup fee nor any maintenance fee. You’d have to pay once you receive any payment.

Just to give you an idea, Razorpay charges you 1% or INR 50 (whichever is lower) per transaction for payments received via NEFT, IMPS, or Bank Transfers. For payments made via Indian debit & credit cards, you’d be charged 2%. And, for international cards, you’d be charged 3%.

Pros & Cons Of Razorpay


  • Collects payments in 100+ currencies.
  • Allows you to collect payment through 100+ payment modes.
  • The only solution that allows you to collect payment via UPI.
  • Also functions as a payment gateway and payment processor.
  • Supports subscription model and collects recurring payments.
  • Offers extensive API for integration.
  • Provides GST compliant invoices.
  • Detailed reporting section and dashboard.
  • Lowest per-transaction fees.
  • PCI compliant.


  • Limited to Indian customers and merchants.
  • Less exposure to the global audience.

4. TransferWise

TransferWise was founded in 2011. Since then, it has managed to climb its way to become the best Payoneer alternative. Just like Payoneer, it offers a simple payment collecting and sending functionality.

But the characteristic that makes it superior to Payoneer or any other alternatives is its transparent pricing and fee structure. You would love to know that TransferWise does not charge you when you receive any payments (more on this below).

Important Features Of TransferWise

  • TransferWise is known for its simple and transparent pricing. There are no hidden fees and even the exchange rate is favorable to you.
  • It allows you to directly send or receive money in your bank account as local bank transfer.
  • Just like Payoneer, TransferWise also creates a local bank account for you so that you can avoid additional payment charges.

Pricing & Fees Of TransferWise

Surprisingly, TransferWise does not charge you on receiving payments. But it charges you a currency conversion fee of 0.35%-3% and 0.2% when you add money in your account for transfer.

Other than this, it is completely free to use.

Pros & Cons Of TransferWise


  • Enables you to collect & hold payment in 50+ currencies.
  • Simple to use.
  • Highly Secure.
  • Provides a currency conversion calculator.
  • No per-transaction fees or any other hidden fees.
  • Offers mobile apps for Android and iOS.


  • Supports bank to bank transfer only.
  • Recipients must have an account to collect money.
  • The platform has a low adoption rate.

5. Skrill

Skrill is one of the oldest payment sending and receiving solutions available to us. It was started in 2001 and since then it has become a top choice for Payoneer alternative.

You can use Skrill simply for receiving payments directly in your bank, just like Payoneer. However, Skrill also offers a payment gateway that can be incorporated into your websites and online stores. This will help you collect payment quickly and safely.

Important Features Of Skrill

  • It also functions as a payment gateway, provides hosted payment solutions, etc. to collect and record payments.
  • Skrill supports up to 40+ global currencies. Therefore, you can rely on Skrill for seamless payment collection and transfer.
  • You can access its API libraries and integrate it into your website or eCommerce store. Mind you, Skrill also works for offline businesses.

Pricing & Fees Of Skrill

Skrill leaves an everlasting impression on its users at it offer free transactions or no charges if you pay a merchant directly from your Skrill wallet, receive money to your Skrill account, or send money to an international bank account with Skrill Money Transfer.

Apart from this, if you have a US bank account, you won’t be charged anything. Although, up to 3.99% of the currency conversion fee is chargeable.

Pros & Cons Of Skrill


  • A reputable name in the payment processing circle.
  • Supports 40+ currencies.
  • Allows you to collect payments from all around the world.
  • Little to no transaction fees.
  • Provides payment gateways and other hosted solutions for receiving payments.
  • It comes with API for integration.
  • Packed with an enhanced fraud management system.
  • Fully PCI compliant.
  • Mobile apps for Android and iOS.


  • Does not support recurring payments.
  • Charges high fees for currency conversion.
  • Do not offer detailed reporting.

All Caught Up. Now What?

After exploring all the Payoneer alternatives, it’s time for you to create an account for yourself or for your business.

I am not saying that you should completely abandon Payoneer. Instead, my main motive for offering you the list of alternatives to Payoneer is to help you create a backup payment transfer solution.

You may very likely come to a situation where your clients are not able to send you your payment. Simply because either you or your clients do not have the same payment transfer solution.

In that case, it is wise to sign up and create an account for yourself. It’s better to be safe than sorry.

As always, if you need my personal assistance with choosing the right platform, how to create an account, or any other issue, feel free to get in touch with me.

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