Top Payoneer Alternatives in India

Payoneer is a payment facilitator that started its operations in 2005. Since then, it has helped several businesses and platforms like Fiverr, Upwork, Amazon, and others.

It offers easy and fast transactions services across the border. 

Businesses around a decade ago were hindered due to payment processes. They were time-consuming because of the slow payment systems. Soon, after the launch of online payment systems like Payoneer, retailers and professionals could work to expand their work. 

Let us look at Payoneer to understand how international payments work. At this point it gets important to know what are the alternatives to Payoneer.

Table of Contents

  1. What is Payoneer?
  2. What is the difference between a payment processor and a payment gateway?
  3. Why look for Payoneer Alternatives?
  4. Top Payoneer Alternatives (table with what is PSP and PG)
  5. Conclusion 

What is Payoneer?

Payoneer is an international payment service for freelancers, business owners, and professionals in India to receive payment from the US and UK. 

Individuals loved Payoneer as:

  • Using Payoneer is like owning a bank account in foreign countries to receive money. The funds are then transferred to a local Indian bank account. The integrated B2B payment gateway allows you to receive money globally. 
  • It allows you to create a free account to support 150 currencies that work in 200 countries.
  • Payoneer allows you to send invoices to your global customers and track transactions. Withdrawals.
  • It gives you digital FIRC as soon as a payment is made.
  • Well, you don’t have to pester on which one you can use. Receiving international payments is not a hurdle anymore, with several options to use. But before that, you must understand the difference between a payment gateway and a payment processor.

Let us look into it in more detail.

What is the difference between a payment processor and a payment gateway?

A payment processor makes the transaction convenient between the two parties: merchant and buyer or a professional and a client. On the other hand, Payment Gateway is the service that collects the payment data (card number, balance, etc.) from the client and relays the information to the acquiring bank.

It is a payment gateway that authenticates the transfer of money based on information collected from the customer. First, they assure that the card belongs to the customer. Once it is guaranteed, the payment processor collects the data from the payment gateway and sends it to the card network.

During the process, your card information is kept secured by the payment gateway. 

Now the question is how do you know which one you should choose. 

The simplest you will understand this with this:

A payment processor facilitates the transaction, whereas a payment gateway is a tool that either carries or declines the fund transfer. So you have a payment gateway in the front while the processor acts in the backend. 

Payoneer is a payment gateway that has made receiving international funds convenient with some listed companies.

If you are thinking of using some alternatives, here are the ones you can use.

Why look for Payoneer Alternatives?

Payoneer is an international payment gateway that makes mass payments possible for you. They allow you to accept payments from 100+ currency routes, and it takes only 2 hours to receive the amount in your account. If that is the case, why do you want to look for alternatives?


You will have to. It is because Payoneer:

  • Charges $2 per transaction.
  • Have set a minimum mark of amount, to begin with, the transfer. You cannot transfer money less than $100 into your account. 
  • Doesn’t support small amount transfers. 
  • Allows you to send/receive money from Payoneer to Payoneer and not from other services like PayPal or PingPong.
  • Charges you currency conversion of 2-2.75%, depending on the currency.
  • There is a list of companies from which you can receive the amount. The service provider has listed companies that can send you money. This brings in limitations with the payment gateway. 

Does this befuddle you? 

If yes, then do not worry, as this concern can be addressed with other payment solution providers and payment gateways.

Top Payoneer Alternatives.

Here are the top alternatives of Payoneer to consider:


Sr. No Name of the Alternative Payment Processor/Payment Gateway Transaction Fees Charged for International Payments
1 PingPong Payment Processor 1% transaction fees.
2. PayPal Payment Gateway 3.4-.4.4%
3. Stripe Both 2-4.3%
4.  Razorpay Both 3%
5. Skrill Payment Gateway No fees


1. PingPong

PingPong is the leading international payment processor and not a payment gateway. But it processes international money transfers at a low cost. The payments are secure and faster. PingPong supports both professionals, freelancers, and eCommerce sellers to receive international payments. 

The service provider transfers $150 million a day for international eCommerce sellers. So far, PingPong has been able to process $90 billion cross border payments.

Pricing and fees of PingPong:

  • PingPong charges its users only 1% of the transaction fee.
  • There are no other hidden costs and maintenance charges.

Pros and Cons of PingPong- a payment processor:


  • PingPong allows you to receive sales profits from marketplaces like Amazon, Wish, Rakuten, Google Play, Cdiscount, and App Store.
  • You can withdraw money directly to your local India bank account GBP, EUR, CAD, INR, USD, and JPY.
  • The funds from the PingPong account are directly transferred to an Indian bank account. 
  • The payment processor abides by all government regulations and conditions.


  • The only drawback is that the solution provider is new in the market and does not have a vast network. But the better sight is that they are growing.

2. PayPal

PayPal emerges as the most excellent option to Payoneer. It is one of the most well-known and widely used payment methods for sending or receiving money over the internet. PayPal is both a payment processor and a payment gateway which is favourable for eCommerce sellers.

Pricing and fees of PayPal

  • In India, PayPal will charge you 2.5%+ INR 3 for local payments. 
  • The payment service provider will charge you 3.4-4.4% for international payments.
  • There are no set-up and monthly fees.

Pros and Cons of PayPal


  • PayPal is used in 200 countries, and it allows transfer in 26 currencies.
  • The services of PayPal include payment gateways and payment processors.
  • You can track and manage all transactions with PayPal.
  • PayPal will enable you to support recurring payments.
  • You can send invoices using PayPal.
  • PayPal is PCI compliant.
  • It allows you to use the service on different platforms after third-party integrations.


  • PayPal loads your transactions with high transaction fees.
  • The transfer charges in India are 3.4-4.4%, which is higher than the competitors like PingPong.

You may also like: PayPal enters Japanese market, acquires BNPL firm, Paidy

3. Stripe

Stripe is the payment service to send and receive money domestically and internationally. You can use Stripe both as a payment gateway and a payment processor, especially for your online store. 

Pricing and fees of Stripe

  • The fees of Stripe vary for different countries. The transaction charges in India start from 2% to 4.3%.

Pros and Cons of Stripe


  • Stripe accepts payments in 135 currencies. 
  • The service provider offers a completely safe and secured payment method.
  • Stripe has an easy to use dashboard where the users can save the details of customers and fund transfers.
  • Stripe uses anti-fraud machine learning technology to avert fraud.


  • Stripe is available in only 40 countries.
  • The payment processing fees are high.

4. Razorpay

Razorpay is expressly said to be built for Indian eCommerce sellers and service providers. It provides plenty of options for fund transfer like payment gateway, payment links, and payment processor. In addition, users can create professional invoices and include GST, shipping details and discounts using the payment service provider. 

Pricing and Fees of Razorpay

  • Razorpay charges you Rs.50 or 1%(whichever is lower) of payment received via IMPS, NEFT or bank transfer.
  • For international payments, the users will have to pay 3% of the amount received.

Pros and Cons of Razorpay


  • Razorpay collects the payments in 100 currencies, allowing you to collect payments through 100+ payment modes.
  • It provides you with the feature to generate GST compliant invoices.
  • Low transaction fees.


  • Razorpay is popular in Indian audiences only and hence lacks global exposure.

5. Skrill

Skrill started its operations in 2001, making it the oldest payment gateway platform. Skrill works similarly to Payoneer and allows you to receive payments directly to your bank accounts. However, with Skrill, you can accept payments and keep track of all the fund transactions.

Pricing and Fees of Skrill

  • Skill charges you for the currency conversion of upto 3.99%.
  • There are no fees for transactions as Skrill offers is accessible to all its users.

Pros and Cons of Skrill


  • Skrill allows you to collect online funds from across the world.
  • It supports more than 40 currencies.
  • The service provider does not charge anything in the name of transfer fees.
  • It is entirely PCI compliant.
  • Skrill provides payment gateway solutions to receive international payments.


  • You do not get detailed transaction reports with Skrill.
  • The currency conversion fees are higher with Skrill.

You may also like: Skrill adds 20 different cryptocurrencies on their platform


Listing out the benefits of alternatives of Payoneer is essential. However, you must not abandon using the service as everything comes with its own pluses. Payoneer is a dynamic platform with multiple features, but you need to know about other services considering the requirements.