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PayPal vs Payoneer: What are the differences?
Developers describe PayPal as "Send Money, Pay Online or Set Up a Merchant Account". PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.. On the other hand, Payoneer is detailed as "Empowers global commerce by connecting businesses". It is a financial services company that provides online money transfer and digital payment services and working capital solutions.
PayPal and Payoneer can be categorized as "Payment Services" tools.
Some of the features offered by PayPal are:
- 2.9% + $0.30 or less- With our flat, transparent pricing, you’ll never be surprised by hidden or variable fees. We also offer discounted rates when you sell a lot, or when you use our card reader.
- Keeping every seller secure- If you’re sent an unauthorized payment, or a buyer claims they never received an item, our Seller Protection covers you for the full amount of the eligible payment.
- Easy for them, easy for you- With just a few clicks, you can get paid by debit card, credit card, or a PayPal transfer. All someone needs to start buying from you is your e-mail address or mobile number.
On the other hand, Payoneer provides the following key features:
- API support
- International payments
- Over 200 countries
We use GoCardless to simplify the way clients and partners pay for our services. What intrigued us is the quick and easy ACH feature that gives our clients the option to log in with their bank account and shoot the funds directly to our account. The fee, compared to Stripe is less. Stripe and PayPal charge 2.9% + 30c and Stripe also forces the client to enter in all of their payment details manually and then if the payment doesn't work, the client has to try all over again. GoCardless charges 1% + 25c which is much more reasonable dealing with the large projects that we are currently working on.
We integrate GoCardless with Xero to easily send out quick invoices, receive the funds and track all revenue in one place.
Pros of Payoneer
- Can use Credit Cards for payment3
- Approximately in every country2
- Very easy to use website2
- More options than Stripe2
- Support for India1
- Support for Pakistan1
Pros of PayPal
- Most known service196
- Consumers know it135
- It's available for many countries113
- Easy70
- Best way to get paid outside US54
- Most widely used payment processor35
- Express Checkout25
- Consumers trust it16
- Flexible and secure15
- Digital Goods for Express Checkout6
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Cons of Payoneer
- UI is a bit clunky1
- If you use Credit Card, there’s a 3% fee1
Cons of PayPal
- Not well written recurring payment api1
- Less countries supported1
- Harder to get started with1
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What is Payoneer?
What is PayPal?
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What companies use PayPal?
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What tools integrate with Payoneer?
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