What are the differences between Payoneer and Wise in Pakistan?

Payoneer and Wise (formerly TransferWise) are both popular online money transfer services used globally, including in Pakistan. They offer different advantages depending on your specific needs. Payoneer is often favored by freelancers and businesses for its ability to receive payments from foreign clients and marketplaces. It provides a US bank account for receiving payments and a MasterCard for making payments or withdrawals. However, Payoneer’s fees can be higher, especially for ATM withdrawals. On the other hand, Wise is known for its transparency and low-cost money transfers. It uses the real mid-market exchange rate and charges a small, upfront fee. It’s a great choice for sending money abroad or receiving payments from individuals. However, it doesn’t provide a physical card in Pakistan. Therefore, the choice between Payoneer and Wise depends on your specific needs such as the nature of transactions, the volume of money involved, and the preferred mode of access to your funds.