PayPal vs Payoneer: In which process you want to receive your money from abroad? If you want to earn money from your blog then you must familiar with PayPal and Payoneer. But the payment process of both is not similar. Both of the services are reliable and offer a huge customer experience. But both services work in a different process. Take a review of various advantages and disadvantages of these two payment services.
Which Service Is Better: PayPal Vs Payoneer?
When you think about online payments the most used services are of global payment processors. By using these firms you can easily give and receive payments from abroad. They will provide you a secure framework and will charge a fee which is based on the volumes and transaction size. The first popular name is PayPal. Most of the digital marketers use this payment processor. The other name which is also very popular is Payoneer. Let us talk about how they work.
How to Use PayPal?
Getting payment from abroad was a little bit tricky about a decade ago. But when PayPal comes in this market this payment process becomes very easy. There are several services by which you can get your payment from abroad. But PayPal is beyond any doubt the most popular among them. It is a service that gives you permission for national and international money transaction through the internet. The whole process is based on an email ID. Technically you can say that one email id will transact money to another email id. It is very simple to use. Now let’s discuss in details.
1. Register Yourself
For using PayPal You need a valid email id and a bank account. You have to register with PayPal by using your valid email address. You will be identified by your email address. For the registration, you need an IFSC code and some other branch related information. After successful completion of your registration, you can enter your bank or credit card details.
2. Verification Of Your Bank Account
To ensure you that you have entered in the correct bank details PayPal will transfer one or two very small amount of money in your bank account. Once you receive this amount in your account you have to go to your PayPal profile and enter the amount that you have received before some minutes. If you enter the correct amount then your credit card account will be verified. Now you can easily use your PayPal account for the transaction of money.
3. Receive Money Through PayPal
When it is the time to receive your payments from someone then you have to tell that person your email id which is registered through PayPal. It is not a matter where he is located. You have to tell the person all the details of your email id. When your payer will give you the payment then you will receive an email alert which will assure you that you have received the payment successfully. Now, this is your choice that you will keep your money on PayPal account or on your bank account. Before transferring money PayPal will take some commission of 3.4 % of your total payment.
4. Send Money via PayPal
Now you can use your PayPal account to transfer money to someone who has a valid PayPal account. You have to ask for the person’s email id whom you want to pay money. Now go to your PayPal account send money to the person.
How to Use Payoneer?
When you want to sign up for a Payoneer account it will take you to your bank account. If you need a local bank account then Payoneer will give you a local account in Europe, USA, United Kingdom, and Japan. When you want to receive your payment from anyone you have to share your bank account details which are given by Payoneer with that person. Let’s discuss it in details.
1. Sign Up With Payoneer
When you try to sign up you have to sure that you enter the same address that you gave on the Airbnb payment page. After completing the sign-up Payoneer will approve your details by email. Once you are approved you will receive a card by email. You need to activate that card for making payments.
2. Receive Your Payment
Once your Payoneer master card is prepared then Airbnb will make your payment in EUR or USD. It depends on your country. Now you can view your balance on Payoneer’s website. Payoneer delivers the fund to your account within 2-3 hours.
You can use both PayPal and Payoneer accounts. When you want to receive payments you can use Payoneer. It offers services in some selected countries. So if you wish to receive money in USD, GBP then you should try this one. According to digital marketers, Payoneer is more helpful to save money than PayPal.
Still, have a question about PayPal vs Payoneer? Ask in the comment section.