What is the difference between Payoneer and PayPal in terms of exchange rates?

Payoneer and PayPal are both popular platforms for online payments and money transfers. However, their exchange rates can differ significantly. PayPal typically adds a markup of 2.5% over the wholesale exchange rate. This is the rate banks and PayPal itself get when trading currencies. On the other hand, Payoneer uses a rate that is up to 2% above the mid-market rate. The mid-market rate is the midpoint between the buy and sell prices of two currencies in the market. Therefore, Payoneer generally offers a better exchange rate than PayPal. However, it’s always a good idea to compare the rates on both platforms before making a transaction, as they can fluctuate based on market conditions.