Readers like you help support MUO. When you make a purchase using links on our site, we may earn an affiliate commission. Read More. One major hurdle for every freelancer is payment processing. The payment platform you use must meet your financial requirements and be convenient for your clients. With numerous payment methods available, freelancers have to consider various factors to make this decision. In this article, we will take Payoneer as a case study, discussing the advantages and disadvantages of the payment method. In the process, you can evaluate if Payoneer is right for you by considering its transaction charges, global reach, processing speed, and multiple currency options. What Is Payoneer? Payoneer is a fintech services company that provides online money transfer and e-commerce payment solutions. It allows businesses and individuals to send and receive payments in various currencies, including USD, EUR, and GBP. Payoneer is one of the best alternative payment methods freelancers use to receive payments from clients worldwide. As such, it’s safe to say it presents numerous benefits to its users. However, while it offers several advantages, there are also some disadvantages to using it. Advantages of Using Payoneer as a Freelancer Freelancers enjoy many benefits using Payoneer, which makes the platform a viable option in the freelance market. These benefits include: 1. Payoneer Is Widely-Known With a Large Global Reach Payoneer allows freelancers to receive payments from clients in over 200 countries and territories. This makes it an excellent option for those who work with clients from all over the world. Suppose a freelance graphic designer based in the US who works with clients in Europe, Asia, and South America. They can use Payoneer to receive payments in their local currency without needing conversion. 2. Payoneer Has Cheaper Transaction Fees Compared to Alternatives Payoneer charges relatively low fees for transactions, which can benefit freelancers who receive a high volume of payments. Payoneer charges range from 2% to a flat rate of 1.5 USD, GBP, or EUR for most withdrawals. Invariably, a freelance writer who receives payments from multiple clients every month can save a considerable amount of money on transaction fees by using Payoneer. 3. Payoneer Provide Multiple Transaction Currency Options Payoneer allows transactions in multiple currencies, which can be helpful for those who work with clients in different countries. Freelancers working with clients in Japan, Germany, and Mexico can use Payoneer to receive payments in Yen, Euro, and Peso and avoid currency conversion costs. 4. Payoneer Resolve Disputes Faster Payoneer has a dedicated team that reviews disputes and works to resolve them as quickly as possible. This can benefit freelancers who need to resolve client disputes and get paid as soon as possible. Additionally, Payoneer has a dispute resolution process that is easy to use and understand, which makes it simple for freelancers to file a dispute and get it resolved. This feature is a lifesaver for freelancers who have been scammed or have payment issues with their clients. 5. Payoneer Is Easy […]
