Which one is best between PayPal and Payoneer in Nigeria

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Dec 22, 2017
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#1
According to me, Payoneer is more cost-effective. I am putting below the details with proof. Hope it is useful.
About PayPal Pricing (for starters)
  • Transaction fees - $0.30 + 4.4% of transaction amount
  • Currency Exchange rates are very low
Let’s take an example. I recently received $150 from a client through PayPal -



I was charged $0.30 + 4.4% of $150 that came to $6.90 as PayPal fees.
I withdrew these funds to my bank account.
See how the currency exchange rates on PayPal was very low -
Global Exchange - 1 USD = 64.07 INR
PayPal Exchange - 1 USD = 61.84 INR



To sum up, I received ~INR 8850 for $150 of my payment.
PayPal Alternatives -
There are lot of alternative payment options to PayPal, but I found Payoneer to be most cost-efficient among all.
Payoneer Pricing -
A friend sent me details of his transaction of $75 through Payoneer -



So, $75 translated to INR 4705
Summing Up -
PayPal - $150 = Rs.8850
Payoneer - $75 = Rs.4705
Payoneer - $150 = Rs.9410 (extrapolating above)
Savings through Payoneer on $150 payment = Rs.(9410–8850) = Rs.590

Till date, I have been using PayPal to collect funds. But, after going through these calculations myself, I have decided to switch to Payoneer.

It is much cost-efficient. If you’re signing up for the first time, you can use this link to get a $25 bonus on first payment.

Which payment processor are you using to receive online payment?