Building an effective global distribution network with Payoneer

Challenges: We needed a payments solution to help us collect and manage a variety of local currencies, which could then be converted and withdrawn to a USD denominated bank account.

Solutions: We process payments from a variety of sources, including individual retailers and marketplaces like eBay. While I’ve tried using Paypal and traditional wire transfers, Payoneer clearly wins out for the types of payments we work with.

Payoneer receiving accounts act like local bank accounts, enabling me to get paid in different currencies, including HKD, AUD, EUR and USD, which I can then convert and withdraw to my USD bank account at a fixed fee. Additionally, I can process wire transfers and credit card transfers with lower fees than Paypal. For my outgoing payments, I can transfer funds worldwide directly from my Payoner account to any recipient, even if they aren’t Payoneer customers. Lastly, the ability to integrate my Payoneer account with QuickBooks Online has greatly simplified how I manage my business’s accounting.

Managing supplier networks with effective incoming and outgoing payments processing

Challenges: We needed a payments solution to effectively manage our incoming USD payments while allowing us to easily pay our suppliers in several different currencies. After trying out other payments solutions, including Wise, Paypal and Stripe, I saw that Payoneer had the best solutions for my business, by far.

Solutions: With Payoneer I can receive wire transfers (SWIFT) in USD from our clients in the UAE, which I can then withdraw at local bank. For my outgoing payments, I’m able to send funds to our suppliers via bank transfer in their preferred currency, even if they don’t have a Payoneer account. Additionally, we’ve taken advantage of Payoneer’s integration QuickBooks Online to streamline our accounting procedures.