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Payoneer: Why It is an Important Online Payment Service

by Moin Uddin Ahmed Tipu

Payoneer is one of the most important online payment services. It is definitely a service you should consider signing up for, if you engage in e-commerce. Whether your engagement in e-commerce is in a scheme where you sell stuff online, or in a scheme where you provide services online, you will find Payoneer useful. Payoneer can also be useful to pretty much anybody who transfers or receives funds online. Some of the factors that make Payoneer important as an online payment service include:The flexibility associated with Payoneer One area where the flexibility of a Payoneer as an online payment system becomes clear is in the area of withdrawals. We all know that one headache people transacting online have to grapple with is that of how to eventually withdraw their funds. It is reasonably easy to transfer funds online, and to receive funds into an online account. The challenge comes up when we get to the point of withdrawing the funds. But in this respect, we come to learn that folks with Payoneer accounts can withdraw their money anywhere in the world where they can find ATMs with the MasterCard label. Nowadays, almost every ATM has that MasterCard label, which means that Payoneer account holders can pretty much withdraw their money anywhere in the world.

On another note, Payoneer cardholders can also spend the money directly in their cards, by presenting the Payoneer MasterCard debit cards in all outlets that accept MasterCard. Again, many outlets all over the world accept MasterCard.

The flexibility of Payoneer goes further, because Payoneer account holders nowadays have another withdrawal option, in the form of global bank transfers. So those who find ATM withdrawals using the MasterCard inconvenient in one way or another can still have the funds wired directly into their bank accounts.

These things may look inconsequential in theory, but they can be very weight issues when you have funds you can’t access in an online account. It helps that the structure of the Payoneer service is such that nobody’s funds get locked up, as there are so many withdrawal options.

The low transaction fees associated with Payoneer.

Not with standing its advanced functionality, the Payoneer MasterCard debit card costs just as much (to get produced) as the typical bank debit card. Withdrawal fees (what you are charged for using the Payoneer MasterCard) is comparable to what most other financial institutions charge for a similar service. Other things like the charges for loading funds into the Payoneer MasterCard, getting the Payoneer MasterCard shipped, replacing the Payoneer MasterCard and so on are also very low. Simply put, when you run the numbers carefully, you come to the conclusion that Payoneer is one of the cheapest international money transfer services you can use.

The convenience associated with Payoneer services

It is convenient to use Payoneer as a money transfer service. For one, you have to take note of the fact that unlike other money transfer systems, where there are intermediaries involved, with Payoneer, you can transfer funds without the use of intermediaries. With money in your Payoneer account, you just need to load the funds into your Payoneer MasterCard card and the go straight to an ATM machine to withdraw the funds. Now compare that with the other funds transfer systems, where you have to use third party debit/credit cards or bank accounts (through international bank transfers), and you see why Payoneer is so convenient. On another note, you notice that everything in Payoneer in Payoneer is designed to be convenient. That is anything from account sign up to account verification and onto funds transfers, integration with e-commerce sites, the loading of funds into Payoneer debit cards and withdrawals.

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