What is Payoneer and how it works

Payoneer is a global payment platform that allows businesses and freelancers to receive and send cross-border payments. It works by providing users with virtual receiving accounts in multiple currencies (USD, EUR, GBP, and others), enabling them to collect payments from international clients and marketplaces. Once funds arrive in your Payoneer account, you can transfer them to your local bank account in INR, though the process typically takes a few business days and involves conversion fees and withdrawal charges.

For Indian exporters and freelancers looking for a more streamlined solution, Skydo offers an RBI-authorised alternative with faster processing times and transparent pricing. You can compare Payoneer pricing against Skydo's flat fee structure to see which platform better suits your cross-border payment needs. Skydo is designed specifically for the Indian market, ensuring compliance and often delivering funds within one business day.