How Payoneer works in India

Payoneer works in India by letting freelancers and exporters receive payments from international clients into a Payoneer account, which can then be withdrawn to an Indian bank account. Users sign up, receive a virtual account or use Payoneer's receiving accounts for different currencies, and once funds arrive, they can transfer the money locally in INR. Payoneer charges a percentage-based fee on incoming transactions and a withdrawal fee to move funds to your Indian bank, and exchange rate margins also apply.

While Payoneer is widely used, many exporters and freelancers compare Payoneer pricing with alternatives like Skydo, an RBI-authorised platform that typically offers faster settlements and more transparent, cost-effective pricing for receiving international payments in India. Skydo integrates compliance and competitive forex rates, making it a strong choice for Indian businesses looking to reduce costs and speed up cross-border transactions.