paypal vs payoneer

PayPal Vs Payoneer: What Are The Benefits Of Each?

If you’re running an e-commerce business, it’s highly likely that you send or receive money from different parts of the globe. The good news is that you don’t have to worry about such issues thanks to online payment services. PayPal and Payoneer are among the biggest players in this industry. So, between PayPal vs Payoneer, which one is better?

Exchange Rates

Both payment processors apply different foreign exchange rates based on the transaction you are conducting. For PayPal, you’ll encounter different transaction rates based on the country you are operating in.

For instance, if you’re based in the US and you’re conducting an international transaction, PayPal will apply a 4.4% fee. PayPal doesn’t list its current exchange rate.

For Payoneer, exchange rates will depend on the current mid-market rates. Unlike PayPal, they will inform you of the prevailing mid-market rates in advance.


If you’re using PayPal, the fees charged will depend on your country of residence. PayPal may also apply a currency conversion charge of between 2% to 2.75% in some countries.

Therefore, if you’re conducting a transfer from the US using your PayPal account or bank account, then you’ll incur a charge of 0% to 2%. And if you’re paying for the transfer using your credit card, then the transaction fees are even higher.

For Payoneer, you can send money to overseas recipients without incurring any charges. Also, you’ll not incur any fees when you receive payment from other Payoneer clients.

However, if you receive a payment via the company’s Global Payment Service, then you will incur a fee of 1% of the money received. On the other hand, if you’re an online merchant, use the company’s Billing Service and receive the money via your credit card, then you’ll incur a 3% fee.

Safety And Security

Security remains one of the biggest concerns when it comes to online transactions. However, you don’t have to worry about the safety or security of your personal data, whether you’re using PayPal or Payoneer.

Both companies apply stringent data protection measures. Also, both Payoneer and PayPal are fully compliant with US payment services regulations. Therefore, before opening an account with any of the payment processors you’ll undergo a thorough screening process.

Ease Of Use

Both platforms fare quite well when it comes to ease of use. Both PayPal and Payoneer serve individuals and businesses that are conducting online transactions. Also, website access for both platforms is available in different languages such as English, French, Spanish, Italian, Japanese, Chinese, Russia, and Arabic, among others.

You can also access both platforms via iOS and Android mobile apps.

Final Thoughts On PayPal Vs Payoneer

Both PayPal and Payoneer are established and trustworthy companies when it comes to online payment systems. However, PayPal is faster but a bit more expensive.

On the other hand, Payoneer is cheaper but slower compared to PayPal. Therefore, whether you would like to use PayPal or Payoneer will depend on your preferences and personal circumstances.