Getting Started with Payoneer
Signing up to Payoneer is free, however, depending on how you are utilizing your Payoneer account, there may be some fees associated with the transactions. Payoneer fees vary depending on how you receive payments:
- Receive Payment from Another Payoneer Customer- No fees, all ‘make a payment’ service transactions are free of charge
- Receive payment via receiving accounts- Payoneer’s global payment services provide you with local receiving accounts in whichever currency you operate in. These receiving counts act as if you have a local bank account. Fees are assessed on these transactions depending on Country. If funds come from Europe, the United Kingdom, Japan, Australia, Canada or China there are no fees. If the funds come from the US, Payoneer charges between 0-1% of the transaction amount.
- Receive Payments directly from your customers- Payoneer’s Billing service allows you to get paid directly from your customers. If transactions are made by Credit Card, Payoneer charges 3% of the transaction amount for all currencies. If Payment is made by eCheck in USD, Payoneer charges 1% of the transaction amount
- Receive payments via marketplaces & networks- fees are set by each marketplace and may vary.
eCommerce with Payoneer
One of the biggest uses of the service is Payoneer eCommerce. Payoneer has a connection to a wide variety of marketplaces and networks globally. Sellers from across the world utilize Payoneer to receive payments from multiple top eCommerce marketplaces all into one account. In today’s age, around 86% of consumers use at least two shopping channels to conduct their online shopping. This has made the need for sellers to offer their products on more than one marketplace increasingly important. Being able to receive funds from different marketplaces into one account has made online earning with Payoneer one of the simplest and most useful payment method solutions for eCommerce sellers of all sizes. It allows you to receive payment for items you sold in your store immediately, pay your suppliers and contractors for free, gives vendors a way to debit your account regularly, and allows you to access funds the way you prefer, either withdrawing directly to your bank or using the funds for other online purchases.
Payoneer and Algopix Product Market Research Tool
When conducting business online, it is important to understand every expense associated with selling your products. Algopix’s market research platform will analyze expenses including shipping costs, marketplace fees, and taxes. Using this information, combined with Payoneer fees, you can price your product more competitively making Payoneer online payment an incredible payment solution for your eCommerce business.