### What is Payoneer?
Payoneer is a widely-used online payment platform that enables users to accept payments via credit card from anywhere in the world. Similar to PayPal, Payoneer allows transactions in over 200 countries and supports multiple languages, providing customer service for users globally. What sets Payoneer apart is its speed and ease of use, making it an ideal choice for freelancers and online businesses needing to handle international payments seamlessly.
Launched in 2005, Payoneer now operates in over 200 countries. It is particularly beneficial for freelancers and online businesses due to its straightforward and efficient method for making and receiving international payments. Users can receive payments into their local bank accounts from global markets without worrying about complicated transactions or hidden fees. Before signing up, ensure that Payoneer meets your specific international payment needs.
Payoneer offers robust customer service and has strict policies against employees requesting login credentials, ensuring security for its users. The platform uses advanced security measures to protect against hacking, assuring users that their payments are safe through sophisticated anti-hacking technologies and physical security protocols.
One of Payoneer’s standout features is its ability to handle multiple currencies, allowing users to send and receive money worldwide. You can accept payments in various currencies, pay contractors and suppliers, and handle taxes and VAT, with the ability to withdraw funds to your local bank account, though third-party fees may apply.
Additionally, Payoneer provides a prepaid MasterCard, which can be used for online purchases. This feature is especially useful for professionals who travel frequently, as it allows online transactions without fees. However, it’s important to avoid fees when withdrawing money by using the Payoneer MasterCard.
For assistance, Payoneer’s website offers a Support Center with FAQs, a knowledge base, live chat during business hours, email, and phone support depending on your location.
### What is PayPal?
PayPal is a renowned online payment system that allows users to send and receive money online. Since its inception in 1998, PayPal has provided a secure way to manage and track transactions, storing credit card information for both senders and recipients without revealing personal financial data. PayPal is accepted by millions of merchants worldwide and offers features like pooling money with friends and splitting bills.
Users can link their bank accounts to their PayPal accounts for easy money transfers and purchases. PayPal’s security features include end-to-end encryption, optional two-factor authentication, and email confirmations. While PayPal accounts are free for individuals and businesses, optional services like international money transfers and currency conversions may incur fees.
PayPal offers a credit line program, allowing users to set up payment plans for purchases. Additionally, PayPal’s main summary page and activity statements help users track their transactions and manage their accounts efficiently.
### What is Stripe?
Stripe is a financial services company that allows internet businesses to accept online payments, depositing funds into their merchant accounts. Founded in 2010 and headquartered in San Francisco, Stripe supports over one million businesses globally, making it particularly useful for subscription-based businesses with its streamlined interface for billing and recurring payments.
Stripe’s transaction fee is a small percentage, similar to PayPal, and includes a fee structure that simplifies financial transactions while offering a wide range of payment options. In 2015, Stripe processed $20 billion in payments, generating $450 million in revenue.
Stripe offers several additional features, such as setting up a Delaware company through its Atlas program, providing legal documents and filings, and offering developer-friendly APIs and pre-built solutions. It supports payouts in different currencies and a variety of payment types, including ACH transfers and wire transfers.
Stripe’s infrastructure ensures customer financial information is secure with PCI compliance, SSL encryption, and multiple developer tools for customizing payment systems. Stripe also emphasizes PCI compliance for businesses and supports three-dimensional secure for high-risk transactions and two-step account authentication.