Payoneer vs. Venmo for Business

Although the withdrawal is limited to the ACH US accounts, as they aren't real bank accounts, it's a convenient way to get paid fast from Stripe, although if there is a small fee or a chargeback as these are way in payments only, it becomes a nightmare to fix those problems. It does allow the bank accounts to be accepted with Stripe. For any kind of ACH payment to vendors, the service is way too limited, I wasn't able to pay anyone, unless I use the card to do it, as any regular card. In my experience, I think Import export, international trade transactions or high ticket items are impossible due to the small upper limits, for instance I can't use it to pay a vendor for a regular inventory of the latest iPhones(more than a million dollars for just a few items), nor to get paid by an overseas buyer(for instance my clients in Dubai), that buy these items on a daily basis, for these operations is just not suited.

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I had a customer who wanted me to do his wife's birthday party. I sent him the estimate and he gave me a deposit from his Venmo account. When the party was done, he forgot to pay for a week. I reminded him with an invoice and he sent a deposit. It wasn't immediately deposited, but it [arrived the next day].

• It is very well accepted world wide and also accepts more than 150 currencies.
• A decent and nominal exchange rates of currency as compared to similar platforms like PayPal.
• I can keep track of all the transactions, payments, balance, etc using Payoneer.
• It is because of Payoneer we can grow our business globally.

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• Timely payout
• Ease of use
• Visibility at all times

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• The process of getting payment is a little bit complex in Payoneer as compared to PayPal.
• Receiving of payments takes a very long time and it's not instant.
• The customer service of Payoneer is not up to the mark and it takes a very long time to resolve simple issues.

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• Take out transaction fee. They are not PayPal
• More understanding with bitcoin
• Invoicing would be a good feature

Payoneer helps me a lot on my online business journey, it gave me the support and functions that I want.

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I find that it is very easy to use, manipulate and I've had no issues at all whenever using it for Business or even personal purposes as well. I've never received any complaints or questions on either side whenever using it as well, and have only heard others speak about it in a positive manner too.

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The support is really awful. They send you generic answers, and actually don't really understand what is going on. For example, when our re-verification was stuck, support agents told me that the account is active and you can send a payment. I did that, my card was charged, but the payment was declined, because the account was not active

Payoneer has outperformed them all, with speedier payments, a larger network, and international business accounts. We first tried a few different payment service providers before settling on this one, like PayPal, Payeer, and Skrill. But after all these years, Payoneer continues to provide us with the best services, features, and safety overall.

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PayPal has more work items for businesses. It has invoicing, time tracking, and marketing strategies. I could [use] PayPal to run my business like I do with QuickBooks. Affiliates with other business is crazy. Plus, they also carry debit and credit cards for business and personal purposes. Venmo is the little brother [of PayPal].

• I can receive the money from anywhere around the world, and in any currency.
• It converts the money directly into my local currency, hence becomes easy for us to track and withdraw money from our bank accounts.
• Sometimes customer support lacks the ability to satisfy the customer requirements.
• Required to make two different accounts for receiving and sending money.

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• Positive impact only as it’s enhanced our effectiveness.
• No negative impact.
• Simple, easy to use and well worth the $ investment.

Incentivized

Independently Invited by TrustRadius

A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info