Payoneer vs. Paysafe: The Right Payment Solution for Expanding Beyond Borders

There was a time when global transactions were reserved for large corporations with dedicated finance teams. However, things have changed.

Payoneer and Paysafe offer access to international markets, yet they serve users in distinct ways. While Payoneer provides direct currency accounts and simple integration with global platforms, Paysafe has built a strong reputation around its payment processing technology and prepaid card solutions.

The following Payoneer vs. Paysafe comparison guide helps you see how both platforms benefit users and where they differ. We'll also discuss the Wise Business account. The global account that can help your company with all things cross-border.

Do you send and receive global payments?

Try Wise Business >>

Wise Trustpilot Score: 4.3 stars on 230,000+ reviews
No minimum balance requirement and no monthly fees
Integrates with QuickBooks, Xero, Sage, and more

Payoneer vs. Paysafe: Supported Accounts

Payoneer provides local receiving accounts that let US professionals and businesses get paid as if they were based in the same country as their clients. These accounts are available across all major currencies, and users can rely on a SWIFT option for harder-to-reach markets, so it’s easy to keep funds centralized.¹

Paysafe takes a different path. It specializes in connecting American merchants and consumers through a broad range of payment methods. With access to over 260 types of payments in 48 currencies and partnerships with local payment providers, Paysafe supports US businesses with global reach through digital wallets and prepaid solutions.²

Payoneer vs. Paysafe: Costs and Exchange Rate

Since they have different business models, the costs for using Payoneer and Paysafe differ.

Payoneer

The initial account setup is free, but there are additional costs.

• Account Maintenance: There’s a $29.95 account maintenance fee, which is waived if at least $2,000 (or equivalent) is received over a 12-month period.³
• Receiving Funds: Free when the sender is a Payoneer user. Payments from clients outside Payoneer carry fees: credit card up to 3.99%, ACH bank debit at 1% (US only) and PayPal at 3.99% + $0.49 (US only).³
• Sending Payments: Free to other Payoneer accounts; 3% for transfers to non-Payoneer accounts.
• Withdrawing Funds: The fee may be up to 3% for every transaction.
• Debit Card: It costs $29.95 for the first issued card, with additional cards provided free.³
• Exchange Rate Markup: Variable and in real-time, depending on the currencies involved.³

Paysafe

There is no fee for the initial card application.

Other fees may include:

• Replacements: Replacements are $2.50 after the initial issue. Expired cards are reissued without cost.⁴
• Loading Funds: There are no reload fees, and cash reload is not available for the virtual card.
• Purchases: There is no charge for online or mail/phone order purchases. However, banks or merchants may apply their own fees.
• Exchange Rate Markup: There are no direct fees for transactions abroad, though currency conversion applies. Some third-party fees may also be added.

Payoneer vs. Paysafe: Features

Here’s a comparison of some other features of Payoneer and Paysafe.

Payment Gateway Integration

Payoneer delivers local bank details in USD and other major currencies, ready to plug into seller accounts on platforms like Amazon, Google and freelancing marketplaces. The local-like approach makes receiving payments in USD or any other currency feel entirely natural for buyers.

However, Paysafe does things differently. It operates as a full payment ecosystem. The platform processes credit cards, hosts digital wallets like Skrill, allows prepaid options like Paysafe Card and handles cash-based solutions.

So, merchants can serve clients across a wide range of channels, even when banking access is limited. Paysafe’s infrastructure supports direct integration with merchant sites via API and its own branded wallet options.

International Reach

Payoneer spans more than 200 countries and supports roughly 150 currencies. It has infrastructure in key global markets and serves clients such as Amazon, Upwork and Google.

Meanwhile, Paysafe has nearly three decades of experience in cross-border payments. It connects consumers and businesses through access to around 260 payment types in 48 currencies. Paysafe’s network includes digital wallets, prepaid instruments and cash-acceptance schemes across many regions.

Ease of Use

Payoneer’s interface feels direct and intuitive. It gives users multi-currency account access, a Mastercard for instant payments and tools for invoicing and mass payouts. The dashboard is uncluttered, with support reaching users in numerous languages.

Paysafe focuses on real-time transaction tracking and flexible reporting. Its web and mobile platforms let users monitor flows, set up recurring billing and manage revenue in a unified dashboard.

Regulation and Compliance

Payoneer operates under multiple regulatory frameworks, including the Financial Crimes Enforcement Network (FinCEN) in the US and protections in Europe via licensing as an electronic money institution.⁵

Paysafe is registered as a Money Services Business (MSB) with FinCEN in the US The status requires Paysafe to uphold strict measures against money laundering and the financing of terrorism, including robust monitoring and reporting standards.

Besides federal oversight, Paysafe also operates within a patchwork of state-level regulations. Each state enforces its own money transmitter licensing requirements.

Final Thoughts

Payoneer and Paysafe can offer US businesses the ability to make and manage local and international currencies. Which one works best for your company will depend on the way you plan to use it, and using the above information can help breakdown which platform you should choose.

Frequently Asked Questions

Do Payoneer and Paysafe support recurring payments?

Both platforms support recurring payments but in different ways. Payoneer facilitates repeat payouts to vendors or freelancers through its account infrastructure. Meanwhile, Paysafe integrates recurring billing features directly into merchant checkout systems, making it useful for subscription businesses and service-based companies.

Are mobile apps available for Payoneer and Paysafe?

Payoneer has a mobile app for managing balances, withdrawing funds and tracking transactions globally. Paysafe’s app focuses more on merchant functions, including payment acceptance, fraud alerts and reporting.

Can Payoneer or Paysafe be linked with e-commerce platforms?

Payoneer connects with global marketplaces like Amazon seamlessly. Similarly, Paysafe also integrates with online stores and subscription services.

Do Payoneer and Paysafe charge inactivity or hidden fees?

Payoneer charges an inactivity fee of $29.95 if accounts remain unused for a set period. Paysafe generally avoids such charges but may include other service-related fees depending on the merchant agreement.

How quickly can businesses access their funds with Payoneer and Paysafe?

With Payoneer, withdrawals to local bank accounts typically take one to two business days, though timing varies by region. Paysafe, in many cases, provides faster settlement cycles for merchants, depending on contractual agreements.

Does Paysafe offer digital wallet services?

Paysafe provides e-wallet solutions like Skrill, which are widely used for online purchases and money transfers. These wallets let users store funds digitally and link to prepaid cards for convenient personal finance management.

Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers

• Global Account: Send money to countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local

• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account

• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met

• Free invoicing tool: Generate and send professional invoices

• No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here

Use Wise Business >>