Payoneer Now Offering Cross-Border Payments From the US & EU to Indian Professionals
June 3, 2024
By: Thadeus Geodfrey
As one of the leading online payment solutions providers, Payoneer is constantly expanding upon the way businesses send and receive cross-border payments.
Recently, it expanded its presence in India, allowing professionals to receive payments quickly and easily. The new solution allows US and European companies to connect more easily with Indian professionals and freelancers.
Payoneer allows professionals in India to receive money in many ways, including in real-time payments from marketplaces such as freelancer.com, PeoplePerHour and 99Designs.
They can also invoice customers using Payoneer’s US/EU payment services to receive payments from an alternative client. Once received, the payments are transferred to the user’s personal account in Indian Rupees (INR), a transaction that can now be completed in less than 5 hours.
The Payoneer Freelancer Income Survey 2015 shows that Indian freelancers make an average of $19 an hour, which is much higher than the average professional wages in the country.
Sometimes these payments face massive deductions due to transfer charges, an issue that Payoneer has addressed by ensuring that their transfer fees are affordable. In fact, Payoneer’s fees are so low, they charge up to 50 percent less compared to their largest competitor, PayPal.
