What are the key differences between Payoneer and Deel in terms of payment systems and money transfers?

Payoneer and Deel are both popular platforms for international payments and money transfers, but they differ in several ways. Payoneer is a financial services company that provides online money transfer, digital payment services, and working capital to its users. It allows businesses and professionals to connect with each other and transact on a global scale. On the other hand, Deel is a global payroll platform that helps businesses hire anyone, anywhere. It simplifies compliance and payments for a distributed workforce. Deel offers a more comprehensive solution for businesses looking to hire and pay international contractors or employees, handling not only payments but also contracts, compliance, and tax document collection. Payoneer, meanwhile, is more of a straightforward payment solution, ideal for freelancers and businesses that just need to send or receive international payments.