Payoneer vs. Wise

Payoneer

Payoneer

47 Reviews and Ratings

Wise

Wise

43 Reviews and Ratings

Overview
Product	Rating	Most Used By	Product Summary	Starting Price
Payoneer	Score 7.6 out of 10	N/A	Payoneer headquartered in New York offers a global payment solution enabling business to manage international payments, bill or request payments from clients, receive payments through popular marketplaces, and pay freelance workers no matter where they are.	N/A
Wise	Score 9.4 out of 10	N/A	Wise, formerly TransferWise, from the company of the same name headquartered in London, provides international accounts and payment solutions for businesses. Wise helps businesses pay international invoices, vendors, and employees with the real exchange rate, in 80 countries, boasting cheaper rates than traditional banking options. It also helps to make faster, lower-cost payouts to all business customers, freelancers, employees, investors, and suppliers around the world.	$0.02 One time/%

Pricing

Payoneer

Wise

Editions & Modules

No answers on this topic

ATM Fees over 100 USD per month: 2%
One time/%
Accounting Funding transactions: 2%
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Receiving USD wire payments: 4.14 USD
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Getting the Wise Debit card: 5 USD
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Getting account details in 10 currencies: 31 USD
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Sending money: From 0.41%
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Converting money: From 0.41%
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Offerings

Pricing Offerings
Payoneer	Wise
Free Trial
No	No
Free/Freemium Version
No	No
Premium Consulting/Integration Services
No	No

Entry-level Setup Fee

No setup fee

No setup fee

Additional Details

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More Pricing Information

Community Pulse
	Payoneer	Wise
Considered Both Products	Payoneer Verified User Anonymous Chose Payoneer I usually use direct transfers between bank accounts, Zelle, wire funds, credit cards, and paper checks as a last resort. In my experience, even mailing of paper checks would be many times faster and more convenient than using Payoneer. Incentivized Helpful? Nikita Bragin Founder Chose Payoneer Wise Incentivized Helpful? Dmitriy Shelepin CEO (Chief Executive Officer) Chose Payoneer PayPal Payments Pro and Stripe Incentivized Helpful? LH lucas horton owner Chose Payoneer I have used all of them successfully for years without "violating their terms". Payoneer is throwing business away for no reason at all. Incentivized Helpful? Kateryna Kyselova (L.I.O.N.) owner Chose Payoneer being accepted as a withdrawal method on freelance websites Incentivized Helpful? Jason Eastwood Entrepeneur Chose Payoneer Way better. Incentivized Helpful? LR Luis Rivas Realtor Chose Payoneer Payoneer is simpler, offers more advantages when withdrawing income and is linked to the best markets. In addition, I can withdraw the money regardless of the currency deposited at the best exchange rate in the market. They offer very competitive commission rates and a debit … Incentivized Helpful? VC Vasilii Chistyakov Owner Chose Payoneer The Payoneer is very easy to use. All conditions are simply and clearly described. Incentivized Helpful? Rick Fitzgerald Owner/CEO Chose Payoneer Before Payoneer, I used Paxum, a Canadian product, that was or is similar but more expensive. Also used Payza(later Ecopayz), and European alternative, they have their ups and downs, they aren't even listed in the Search above, basically they are both payment gateways that … Incentivized Helpful? Verified User Anonymous Chose Payoneer Payoneer supports more geographies than many of the other leading payment solutions. Additionally, their fees are very low, and don’t require a minimum monthly volume or a subscription package. Where Payoneer falls short is that it’s slow (compared to something like PayPal), … Incentivized Helpful? Verified User Anonymous Chose Payoneer Paypal is more common but transaction fees and overall time spent waiting for some transfers if the other person doesn't have paypal or has not used it in a while is a plus for Payoneer. Less hassle and more options related to types of transactions and places to process … Incentivized Helpful? Anmol Dubey CTO (Chief Technical Officer) Chose Payoneer Payoneer has outperformed them all, with speedier payments, a larger network, and international business accounts. We first tried a few different payment service providers before settling on this one, like PayPal, Payeer, and Skrill. But after all these years, Payoneer … Incentivized Helpful? Joaquin Masimelli Database Operator Chose Payoneer I chose Payoneer over the competition because of the low transaction fees and the ease of receiving money from customers anywhere in the world, and then being able to withdraw it without using intermediaries, directly to my bank account and into my local currency. Incentivized Helpful? Verified User Anonymous Chose Payoneer When I used TransferWise I needed to add my Payoneer banking info. Therefore, even though I used this I still needed to use Payoneer. TransferWise limits the countries that they send cards to. It would have been easier to use and it would have removed the need to use Payoneer … Incentivized Helpful? PS Prakul Sharma AI reporter Chose Payoneer As compared to PayPal, Payoneer has nominal exchange rates. Secondly, it is more popular in developing countries than PaPpal which ultimately helps us in doing business in those countries. Thirdly, the transaction fee that Payoneer deducts is less as compared to PayPal which I … Incentivized Helpful? Prakul Sharma AI Reporting Chose Payoneer I selected Payoneer as the fees they have deducted are less and also the exchange rate is better. Also, from time to time I get updates or notifications about the whereabouts of my money. Though there is a limit to receiving money in a single transaction using this tool, it's … Incentivized Helpful? Dr Olivier Becherel - Leadership and Executive Coaching Mentor & Coach Chose Payoneer I would say they are both similar platforms, however, TransferWise has cheaper transfer fees. I also like TRansferWise's user interface better. I use both platforms for different purposes and I am happy with both platforms. Having two platforms give me more flexibility … Incentivized Helpful? AR Ananth Ramaswamy Data Engineering - Business Intelligence Chose Payoneer Through Payoneer's payment solution, it is easy to send funds to numerous countries across the globe. Payoneer will help pay people from more than 85 countries around the world. One of the things I love about Payoneer is the simplicity that they offer. Incentivized Helpful? Verified User Anonymous Chose Payoneer Payoneer stacks the lowest and I wish that there were better options to use when working with companies abroad Incentivized Helpful? H. M. Niaz MORSHED Senior Sales Executive Chose Payoneer Payoneer is much more secure than any other transaction system. Transaction charges are affordable, but there is no other hidden cost to receive or make international payments. Its exchange rates are almost equal to the marketplace. Moreover, their Customer Support Team is well … Incentivized Helpful? Alex Charles Senior Software Engineer, AVP Chose Payoneer Before using Payoneer I had to rely on PayPal Payments but I have to face many troubles. The interface is very unique, it is simple to use with an eye-catching and intuitive design, which helps in navigating things easily for the new user too. The platform also offers to … Incentivized Helpful? Sarah Lightman Singer/Songwriter Chose Payoneer Payoneer is good for 3rd party sources when working with multiple companies. I like using Paypal Payments for when I'm charging a client individually and simply. Payoneer is best for reoccurring business with an entities like collecting from radio, online ads, commercials, … Incentivized Helpful? Verified User Anonymous Chose Payoneer PayPal is accepted by country but I can only send out funds, no receiving. With Payoneer you can send and receive funds, it also has a free credit card that can be delivered to your door step. Incentivized Helpful?	Wise Arpad Szucs Brand Designer \| UI, UX & Visual Designer Chose Wise Wise has great transfer fees, while Stripe has online payment options. We are using both services since Stripe can be connected to our invoicing platform, and our clients can pay us with a few clicks. Wise, as far as I know, does not offer such integration, and all transfers … Incentivized Helpful? Faisal Ahmed Frontend Web Developer Chose Wise I used all of them and some more like Skrill, Neteller. Wise just worked better for me in most cases. Also, I use Payoneer a lot. When I started freelancing I was only using Payoneer, so it's been with me forever. But Wise worked pretty well for me, at least better than Remitly. Incentivized Helpful? Jenson Teo (赵俊杰） Business Development Director Chose Wise Apple Pay has high fees and hidden charges, not easy to use and it does not really support enterprises. It is also not regulated by MAS so we don't feel safe using it. Transferwise account was easy to set up (within minutes), the admin fee is low and the pricing is very … Incentivized Helpful? Verified User Anonymous Chose Wise Stripe is good and convenient as well. However to setup something more in-depth as an invoicing platform, Stripe definitely is more flexible. The only downside to Stripe is.. It takes a higher transfer fee as compared to TransferWise. Incentivized Helpful? CL Connie Lovato Controller Chose Wise Transferwise is less expensive. Incentivized Helpful? Verified User Anonymous Chose Wise With Revolut, taxes are lower (even for free) for small number of transfers and small amounts. It all depends on the individual needs. However, Revolut is worse with regards to user experience and interface, what is something to consider (specially when dealing with the upload … Incentivized Helpful? ES Elaine Smith Producing Artistic Director Chose Wise We considered PayPal payment, ACH bank transfer, and simply mailing a check. TransferWise's fees were much lower than PayPal and our bank. Postage might have been less than TransferWise's fee, but payment could have taken more than a week rather than hours (or days in the case … Incentivized Helpful? Bhabishya Bhatt Content Writer Chose Wise Payoneer Incentivized Helpful? Jason Rutel Creative Director & Owner Chose Wise TransferWise beats all the competition on transaction rates, and it's easy to use. I literally have found no drawbacks in using TransferWise to pay my overseas contractors, and they prefer it too. I found it because my contractor recommended it to me, and it's better AND … Incentivized Helpful? Verified User Anonymous Chose Wise We have used Xoom and PayPal Payments, but TransferWise works for additional countries and has more transparent fees. Incentivized Helpful? Verified User Anonymous Chose Wise We cannot send to certain locations that we need to, but with TransferWise we can. Incentivized Helpful? Dr Olivier Becherel - Leadership and Executive Coaching Mentor & Coach Chose Wise TransferWise has lower transaction fees A better user interface--much cleaner, and simple to use Very simple and smooth process to transfer and receive money Incentivized Helpful? Verified User Anonymous Chose Wise TransferWise was the only solution that we've found that will allow us to facilitate ACH payments that result in an overseas deposit. The fact that you can transfer money to TransferWise and that they can then make a local transfer is awesome. The fees are totally worth it with … Incentivized Helpful? Marcelo de Vasconcellos Senior Visual Designer Chose Wise We had used bank transfers for several years, but TransferWise outdoes them in almost all aspects. It leaves out most of the bureaucracy, and it is agile and much cheaper. Also, TransferWise reliably sends messages as each step of the transaction is completed. Perhaps … Incentivized Helpful?

TrustRadius Insights
	Payoneer	Wise
Highlights	Research Team Insight Published January 31, 2024 Users of both Payoneer and Wise frequently utilize these services for international money transfers. Customers have consistently found both platforms to be reliable for sending money overseas, though the ease of use seems to vary between the two. For some individuals, Payoneer appears more straightforward and intuitive to navigate, while others seem to prefer Wise due to its straightforward fees and explicit exchange rates. Regarding freelance work, Payoneer has emerged as a favorite among users in this field. Many freelancers have cited it as their preferred method of receiving international payments from clients due to its relative ease of setup and use. Furthermore, businesses, especially e-commerce platforms, have expressed a preference for using Payoneer for its mature integrations with online marketplaces such as Amazon and Shopify. The users have highlighted that these integrations allow easier transactions and faster withdrawals. In contrast, Wise users have more often appreciated its multi-currency account feature, allowing them to hold and manage multiple currencies in one place, which is especially useful for those dealing with international clients or traveling frequently.

Features

Payoneer

Wise

Payment Gateways

Comparison of Payment Gateways features of Product A and Product B
	Payoneer 1.3 Ratings 139% below category average	Wise - Ratings
Fraud Detection	2.40 Ratings	00 Ratings
API or SDK	1.00 Ratings	00 Ratings
Recurring Payment Support	1.10 Ratings	00 Ratings
Billing and Invoicing Support	1.00 Ratings	00 Ratings
Global Support	1.10 Ratings	00 Ratings
Payment Form Acceptance	1.00 Ratings	00 Ratings

Best Alternatives
	Payoneer	Wise
Small Businesses	Apple Pay Score 9.3 out of 10	Square Invoices Score 9.2 out of 10
Medium-sized Companies	Apple Pay Score 9.3 out of 10	Apple Pay Score 9.3 out of 10
Enterprises	Checkout.com Score 8.5 out of 10	Checkout.com Score 8.5 out of 10
All Alternatives	View all alternatives	View all alternatives

User Ratings
	Payoneer	Wise
Likelihood to Recommend	1.0 (0 ratings)	9.0 (0 ratings)
Likelihood to Renew	10.0 (0 ratings)	- (0 ratings)
Support Rating	1.0 (0 ratings)	10.0 (0 ratings)

User Testimonials
	Payoneer	Wise
Likelihood to Recommend	Payoneer is well suited for small to large-scale organizations for sending and receiving payments and establishing business internationally. Because their customer service crew is inexperienced, payment and account-related issues can arise and take a long time to fix. It's also appropriate for individuals or freelancers that need a payment provider that can collect payments from all over the world. Incentivized Anmol Dubey CTO (Chief Technical Officer) Read full review	Transferwise it is great for transferring money across countries (never for transfers within the same country) and when the countries in question use different currencies. It is very quick, especially if the amount is not big. For larger amounts, it would take longer so it would be good only if you are not time-constraint. Incentivized Verified User Anonymous Read full review
Pros	The best part of Payoneer is that there is no deduction of any commissions like we have in PayPal. I always get notifications regarding the remuneration which helps me in tracking my money. The payments gets automatically transfer to my bank account without any hassle. The conversion rate of the currency is higher than other payment tools like PayPal. Incentivized Prakul Sharma AI Reporting Read full review	Quick - because funds are transferred domestically, even when going international, you don't have to wait long. Easy - the printout of what information I needed to give the sending bank was complete and easy to understand. Affordable - the fees on both ends were minimal. Incentivized Sarah Daggett Systems Manager Read full review
Cons	For some international countries it take a lot to get the physical card. This may be related to the local post office too, but it's a hassle for new users It would be good to have tutorials on how to do basic tasks in video or audio, for users that can't read for too long or have a disability Incentivized Verified User Anonymous Read full review	TransferWise (at the time of this review) does not allow one to transfer money to all kinds of business accounts. This can be a limitation for people who want to use it as a way to pay directly for goods and services. Sometimes it has problems with some credit cards. But the most popular types are accepted without problems. TransferWise accepts fewer currencies than other services. But it seems like this is a temporary problem, and the company is making efforts to support transferences to all of the currencies. Incentivized Marcelo de Vasconcellos Senior Visual Designer Read full review
Likelihood to Renew	Payoneer helps me a lot on my online business journey, it gave me the support and functions that I want. Incentivized Verified User Anonymous Read full review	No answers on this topic
Support Rating	The support is really awful. They send you generic answers, and actually don't really understand what is going on. For example, when our re-verification was stuck, support agents told me that the account is active and you can send a payment. I did that, my card was charged, but the payment was declined, because the account was not active Dmitriy Shelepin CEO (Chief Executive Officer) Read full review	We haven't really had to engage with TransferWise support. The platform is simple and easy to use. Incentivized Verified User Anonymous Read full review
Alternatives Considered	Before Payoneer, I used Paxum, a Canadian product, that was or is similar but more expensive. Also used Payza(later Ecopayz), and European alternative, they have their ups and downs, they aren't even listed in the Search above, basically they are both payment gateways that allow using several payment methods, and any payment gateway, the problem is they don't have any bank accounts associated with them, therefore they are more limited in that regard. Both use a card as the main withdrawal method, and both support international currencies, but there as I mentioned there isn't any bank account associated with them, nor there is a way to connect them to Stripe. Incentivized Rick Fitzgerald Owner/CEO Read full review	Apple Pay has high fees and hidden charges, not easy to use and it does not really support enterprises. It is also not regulated by MAS so we don't feel safe using it. Transferwise account was easy to set up (within minutes), the admin fee is low and the pricing is very transparent (no hidden fee). Lastly, we needed a platform which is safe to use and we are happy to know that Transferwise is regulated by the MAS of Singapore. Incentivized Jenson Teo (赵俊杰） Business Development Director Read full review
Return on Investment	Using Payoneer we have grown very well especially in 3rd world countries. Due to its nominal transaction charges and better exchange rates, we get a decent ROI. Since it is a very easy to use payment gateway and does not require many technicalities hence it is very well accepted which helps us in "ease of doing" business. Incentivized PS Prakul Sharma AI reporter Read full review	We can save around 5% on our transfer fees The online account management is easier than going into banks personally There's no negative impact... Arpad Szucs Brand Designer \| UI, UX & Visual Designer Read full review
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