Why Payoneer India is the Best Payment Gateway for Indians in 2022

Why Payoneer India is the Best Payment Gateway for Indians in 2022

How Payoneer is best option for Indian Users?

Payoneer is the best option for freelancers in India. Indian users find Payoneer more beneficial than Paypal for money transfer services. However, Paypal has a brand name in the market and most other countries prefer it.

Payoneer india

Basically, it really depends on different countries where people are getting more convenient and profitable service. In India, Paypal is the best payment gateway for freelancers and online business owners.

Today, we will discuss why Payoneer is far better than any other payment gateway for Indians. If you are working as a freelancer or want to use a money transfer service. Payoneer would be the cheapest option. Let’s observe a few points to consider why Payoneer is a better option than others.

What is Payoneer and how does it work?

Payoneer is a B2B payment gateway to send and receive money globally. Payoneer has a category listed for companies that can send money to their customers.

Keep remembering that Payoneer has blacklisted many companies for sending currency. You won’t be able to receive payments from them.

Yuval Tal has founded Payoneer 13 years ago with a seed funding of 2 million USD. In recent years, much venture capital invested in Payoneer. Greylock, Carmel Ventures, Crossbar Capital, Nyca Partners, and others had invested in the company.

Payoneer is providing its services in over 195 countries with 100+ currencies. Fiverr, Airbnb, Elance, and Google are a few giant organizations using Payoneer to make payments worldwide.

Payoneer India Review

I would give a 5-star rating for Payoneer. It is because I have saved a lot of money using it. It has many reasons to choose at the first place. There are several payment options available in the Indian market but Payoneer is always my first choice.

Firstly, I would discuss its conversion rates. Payoneer provides very good amount of rates to transfer any international currency. As most people use it for USD, it provides the highest rates for USD conversion into rupees and you don’t need to pay anything extra for this.

I don’t know if the transaction charges will increase in the future but presently they take 2 dollars for a 100 dollars withdrawal. But generally, they don’t charge this fee in India.

It is really weird that they are showing 2 dollars charges for every transaction. But they never deduct any extra charges from people though.

It is typically so beneficial for every Indian bloggers and freelancers to retrieve their money without any extra cost.

You just need to create an account here and submit your bank account details. As they will verify your details, you will be given a personal account number to receive payments from US and UK clients easily.

Payoneer Vs Paypal

Payoneer is an international organization providing mass payout services worldwide. Whether you are a small entrepreneur or a professional, Payoneer makes it easy to receive money through different companies.

Here’s a quick comparison chart so it’s easy to decide.

 

PayPal Payoneer
Mass Payments

 

Yes Yes
Currency Conversion Routes

 

26 100+  
Speed of Payments

3-5 days 2 hours
ACH $2.00 per transfer
$3.00 per transfer
Debit Card $2.00 per transfer $3.00 per transfer
Credit Card
$2.00 per transfer $3.00 per transfer

Source: Hubstaff.com

Payoneer

Payoneer is providing its services in 200+ countries. You can receive payments through marketplaces and networks as well as direct clients. It has many benefits for those who receive payment from US or UK clients.

Payoneer has a 24/7 support team to help its users with every kind of support. It is the most hectic situation when your money has stuck somewhere and you are worried. Their team is all time ready to listen to your queries.

Payoneer is providing its services in more than 100 countries. They have a large number of marketplaces and networks. However, there were some legal problems with Payoneer with the Indian government.

Therefore, Payoneer was banned in India a few years ago. But right now Payoneer is working in India absolutely fine. You can use Payoneer to withdraw your money directly into your bank account.

It has the fastest way to receive payments at the cheapest cost. Payoneer doesn’t charge anything to make you unhappy. It charges only 2 dollars per transaction. However, you can’t transfer money into your account less than $100.  They don’t provide money transfer options for small amounts.

PayPal

Paypal is another option to receive and send payments. It is the most preferable payment gateway worldwide. Most people from many countries suggest PayPal over Payoneer. Although, this is not the case with Indian users. Let me show you why.

Payoneer India

Here is a screenshot by Harsh Aggarwal showing how much money has been deducted for a transfer. Here you can see that they have charged more than $100 on a $2300 transaction. He has also mentioned that Paypal transfer money into your account using their own conversion rates.

It does not matter how much Google is showing the USD rates for your country. Paypal manages its own conversion rates for every country. And their rates are far below standard currency rates.

Unfortunately, they take advantage that most organizations and individuals use Paypal to transfer money.

On the other hand, Payoneer pays the highest conversion rates according to standards. They also don’t charge anything in the name of a fee from Indian users.

Nonetheless, it is true that Payoneer has a limited number of organizations on its list to receive payments from. And Paypal is the most famous platform to receive payments. Especially for eCommerce websites and online businesses.

Final Words

It is true that Paypal has a brand name and most businesses use it. It is the best choice for worldwide users. On the other hand, if you are living in India and using Paypal for payment transfers. You need to think about it.

Payoneer is the best option to conveniently receive payments from all over the world. Payoneer India is the most profitable payment gateway for all Indian users.

However, there are also many alternatives available here. You can choose a different option as well. But according to my experience and suggestion of many experts like wpbeginner, you must choose Payoneer in India instead of other alternatives.

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