Global payments
Posted on Jan 24, 2025
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If you are looking for international payment solutions, you’ve likely heard of Payoneer. It’s a reliable platform that helps Indian users get paid fast and securely. Payoneer helps you create local accounts in foreign countries for quick international payments.
But is it the right choice for receiving payments from abroad? In this article, we’ll walk you through how Payoneer works, its key features, pricing structure, and some alternatives worth considering.
What is Payoneer?
Payoneer is a digital payments platform to receive international payments in India. It enables Indian businesses and freelancers to open multi-currency accounts to get paid from foreign clients or marketplaces.
You can receive payments in 190+ currencies in your Payoneer account. There are multiple ways to receive international payments from Payoneer:
Another Payoneer user
Directly by your clients through ACH, PayPal, or credit card
Through marketplaces and networks, including Upwork, Fiverr, Airbnb, etc.
What Are the Key Features of Payoneer?
Let’s see Payoneer’s features for international payments.
Global payment gateway service: You can accept payments in different currencies, including USD, EUR, GBP, and many more, directly into your Payoneer account.
Seamless integration with marketplaces: Payoneer integrates seamlessly with popular online marketplaces like Fiverr, Upwork, and Amazon.
Payoneer debit card: Want to withdraw your money at any time? Payoneer's prepaid debit card allows you to withdraw cash from ATMs all over the world or make purchases online or offline. This card works just like any other debit card, giving you the flexibility to manage your funds, wherever you are.
Payoneer Charges and Fees
Receiving payments
Payoneer’s pricing is quite transparent. For those accepting funds from international marketplaces like Fiverr or Upwork, the 1% fee to receive money is pretty reasonable.
When dealing directly with clients, fees tend to be higher depending on the method of payment and currency used. One would be wise to consider these costs in any discussion about prices with a client.
Currency conversion fees
While Payoneer makes currency conversion easy, it does come with a 3% markup on mid-market exchange rates. This means that if you’re frequently converting between currencies, these fees could add up.
But the convenience of having multiple currencies in one account and the ability to withdraw directly into your Indian bank account can outweigh these costs.
Withdrawal fees
When you withdraw your money to your local Indian bank account, Payoneer charges a currency conversion fee (3% forex markup). It does not offer a flat fee per transaction.
Annual Inactivity Fee
If you don't use your Payoneer or have received less than $2,000 in payments over 12 months then it charges $29.95 annually.
Here’s an overview of Payoneer’s pricing in India:
Service | Fee (India) |
From another Payoneer user | Free |
Via client credit‑card payment | ~3.2% + $0.49 (USD/EUR/GBP) |
Via ACH bank debit (US only) | 1% |
Via local receiving accounts (USD/EUR/GBP) | Free for receiving your account’s local currency (e.g. USD if profile shows USD) |
Otherwise via receiving accounts | 1% or fixed fee depending on amount (min fee may apply) |
If withdrawal involves currency conversion | Up to 3% of the amount |
Annual/Inactivity Fee | $29.95 USD if annual receipt is less than $2,000 USD |
Advantages and Disadvantages of Payoneer
Advantages of Payoneer
Platforms like Upwork, Fiverr and Amazon are integrated with Payoneer, making it an ideal payment solution for freelancers.
Transparent pricing: With most transactions, Payoneer is upfront about its fees, so you’re never caught by surprise.
Multi-currency support: Manage funds in several currencies without losing out on conversion rates.
Indian bank withdrawals: Payoneer makes it easy to transfer your earnings to your local bank in India.
Cons of Payoneer
Currency conversion fees: The 3% markup on exchange rates can add up over time, so keep this in mind when transferring funds frequently.
Inactivity fee: The $29.95 annual fee for inactivity is something to remember if you're not using your account regularly.
Limited domestic support: While Payoneer excels at international payments, it doesn't have full support for domestic transactions within India.
Read More: Best Banks to Receive International Payments in India
Is Payoneer Safe for Users in India?
Security Measures
Payoneer regularly undergoes audits to meet international security standards, so you can be assured that your payments are in good hands.
Trustworthiness
Payoneer, one of the trusted payment gateways with over a million subscribers, caters to every level from small freelancers to big enterprises, which explains its reputation.
To learn more about the safety and security provided by Payoneer, proceed further in the following sections.
Read More: PayPal vs. Payoneer: What’s Best for Indians?
Infinity: A Great Alternative to Payoneer in India
While Payoneer offers all the features that make international payments look seamless, the high charges and limited Indian support make it look unattractive to Indian users. Here is why Infinity is a great alternative to Payoneer for receiving international payments.
1. Lower Transaction Fees
Infinity charges significantly lower transaction fees compared to Payoneer, that is 0.5% making it more cost-effective for frequent international transactions.
2. Reduced Currency Conversion Costs
While Infinity provides the best rate in the market, you do not have to pay for any FX markup, unlike Payoneer’s 3% forex markup.
Ideal for businesses managing payments in multiple currencies.
3. Faster Withdrawals to Indian Bank Accounts
Infinity ensures a 1-day settlement process, so no more delayed payments.
Enjoy hassle-free withdrawals with fewer delays.
4. User-Friendly Dashboard
A simplified and intuitive interface makes it easy to receive and manage payments.
Enhanced tracking tools for invoices and payment statuses.
5. No Inactivity Fees
Unlike Payoneer’s $29.95 annual inactivity fee, Infinity imposes no charges for inactive accounts.
Perfect for seasonal freelancers or businesses with variable income streams.
Infinity provides all the benefits of Payoneer while addressing key pain points like higher fees and slow transfers. Whether you're a freelancer, e-commerce seller, or business owner in India, Infinity offers a reliable, cost-effective, and efficient way to handle global payments.
Switch to Infinity today and simplify your international transactions!
Feature | Infinity | Payoneer |
Ease of Setup | Simple onboarding, designed for Indian freelancers and businesses | Easy global sign-up, trusted by users in over 200+ countries |
Receiving Payments | Local USD, EUR, GBP account details; 0.5% transaction fee | Local receiving accounts in multiple currencies; free from Payoneer users, 1–3% from others |
Currency Conversion Fee | No markup – uses real-time market rate | 2–3% markup over mid-market rates |
Withdrawal to Indian Bank | Within 1 business day | Typically 1–2 business days |
FIRA/FIRC for Compliance | Free digital FIRA auto-generated for each payment | FIRC available on request; process may take time |
Annual / Inactivity Fees | None | $29.95/year if annual volume is under $2,000 |
Best For | Freelancers, agencies, exporters who want fast payments and full transparency | Marketplace sellers, global service providers needing wide network coverage |
Customer Support | India-focused, responsive support | Global support team, 24/7 live chat and help center |
Integrations | Integrates with top freelancing platforms (e.g., Upwork, Fiverr) | Widely integrated with Amazon, Airbnb, Fiverr, Upwork, etc. |
FAQs for Payoneer
What are Payoneer’s fees for receiving payments in India?
Payoneer charges a 1% fee for receiving payments from marketplaces like Fiverr. Direct payments may have higher fees depending on the payment method.
How do I sign up for Payoneer?
Sign up on the Payoneer website and register according to the desired type of account you require and then proceed.
Can I withdraw Payoneer funds to my Indian bank account?
Yes! Payoneer accepts local Indian bank accounts for withdrawals.
Does Payoneer charge an inactivity fee?
Yes, if you have not used your Payoneer account for a year and you have not received more than $2,000 within that year then, there's an annual inactivity fee of $29.95.
Visit Payoneer's FAQs for further details.
