What are the differences between Payoneer, Wise, and PayPal?

Payoneer, Wise (formerly TransferWise), and PayPal are all popular online payment systems, each with its own unique features and benefits. Payoneer is known for its strong international money transfer capabilities, making it a favorite for freelancers and businesses operating globally. It offers free payments between Payoneer accounts and competitive rates for currency conversion. However, it does have higher fees for ATM withdrawals and receiving payments from non-Payoneer users. Wise, on the other hand, is renowned for its transparency and low fees for international money transfers. It uses the mid-market exchange rate and charges a small, upfront fee, making it cost-effective for sending money abroad. However, it lacks the business features that Payoneer offers. PayPal is a well-established platform with a wide user base. It’s great for online shopping and offers strong buyer protection. However, its fees can be higher, especially for international transfers and currency conversion. It’s important to consider your specific needs when choosing between these platforms.