How does Payoneer work in Pakistan?
Payoneer is a financial services company that provides online money transfer, digital payment services, and provides customers with working capital. In Pakistan, Payoneer operates in a similar way as it does in other countries. Here’s how it works:
1. **Sign Up**: First, you need to create an account on Payoneer’s official website. The sign-up process is free.
2. **Account Approval**: After signing up, Payoneer will review your application. Once approved, you will receive an email confirmation.
3. **Receive Payments**: You can now start receiving payments from companies worldwide. You can provide your Payoneer account details to the company or individual that needs to pay you.
4. **Withdraw Funds**: Once the funds are in your Payoneer account, you can withdraw them at any time. You can transfer the funds to your local bank account or withdraw cash at ATMs worldwide with the Payoneer MasterCard.
5. **Payoneer MasterCard**: Payoneer also provides a MasterCard that you can use for online shopping or at any ATM that supports MasterCard.
6. **Currency Conversion**: Payoneer automatically converts the currency when you withdraw money to your local bank, but keep in mind that currency conversion charges apply.
Remember, while Payoneer is a convenient way to receive payments from abroad, it’s important to understand the fees associated with currency conversion and cash withdrawal.
