4 Payoneer alternatives for international businesses

Payoneer positions itself as an all-in-one platform for sending, receiving and managing global payments. It's widely used by freelancers, online sellers, and SMBs operating across marketplaces like Amazon, eBay and Fiverr.

But is it the right solution for every business managing cross-border payments?

With support for 70+ currencies, local receiving accounts, and contractor payouts in 160+ countries, Payoneer is built for reach. But if your business needs more control over FX risk, clearer pricing as volumes grow and hands-on support from FX experts, Payoneer may not be the best fit.

In this article, we take a closer look at what Payoneer has to offer and how it compares to four alternatives you may want to consider when choosing a cross-border payment provider.

What does Payoneer offer?

Payoneer is a payment provider that specialises in facilitating payments to and from freelancers, contractors and online sellers who use marketplaces like Amazon, eBay, Fiverr and Upwork — and these marketplaces themselves.

What do you get with Payoneer? 

• With Payoneer, you can hold and send funds in 70+ currencies. 

• Global receiving accounts are available in multiple currencies to collect payments from customers. 

• Payoneer partners and integrates with many e-commerce and freelancer platforms, as well as major online marketplaces. 

• Payoneer has a focus on mass payout capabilities for paying suppliers, contractors and marketplace sellers. 
• Cards are available in USD, GBP, EUR and CAD, so you can access earnings and spend online or out in the world. 

How does Payoneer's pricing work?

Payoneer's pricing structure is transaction-based with varying fees depending on how you send and receive money: 

• Account opening and maintenance: Free 

• Currency conversion: 0.5% markup on top of the mid-market rate 

• Making payments: Up to 3% fee if the recipient doesn't have a Payoneer account 

• Card transactions that involve conversion: 3.5% fee 

Who is Payoneer best for? 

• Freelancers and contractors working across different platforms like Fiverr and Upwork who want to integrate Payoneer as their payment method. 

• Marketplaces that need to make mass payouts in multiple countries and currencies. 

• Businesses that want to pay overseas employees and contractors and get paid by their customers. 

When you might need to look for an alternative to Payoneer 

Clearly, Payoneer works well for freelancers and marketplace sellers. But if your business is more complex and your business is growing, you might find yourself hitting walls that Payoneer just can't break through. 

You want more control over FX risk 

Payoneer's FX tools are pretty limited. So when exchange rates swing, your profit margins swing with them. That's where FX forward payment contracts come in handy — they let you lock in rates for future payments so you know exactly what you're paying weeks or months ahead of the payment being sent. If currency volatility is eating into your margins or you need to plan payments months in advance, you might want to look at alternative payment providers. 

You're paying more in fees as your volume grows  

Payoneer's transaction-based pricing can get expensive as you scale. Every payment to a non-Payoneer user can hit you with fees up to 3%. Currency conversions also carry their own markup, and card transactions with conversion add another layer of costs. 

Here's what may get frustrating over time: The more you grow, the more you pay.

When you're managing a high volume of international payments monthly, these percentages start adding up fast. Those seemingly reasonable costs may become a drain on profits as volumes increase.

You need reliable, human support 

Payoneer offers mostly ticket-based support — no dedicated account manager for most customers, no direct line to someone who knows your business. 

Support tickets and help docs work fine when you're trying to figure out how to use basic platform features. But when you're dealing with time-sensitive international payments or complex FX scenarios, waiting days for a response can be costly.

For SMBs handling serious cross-border operations, that gap between needing help and getting it can cause real headaches. 

4 best Payoneer alternatives (and who each is best for)

If Payoneer isn't the right fit, several providers offer more tailored cross-border payment solutions for growing businesses. 

1. iBanFirst

First up, iBanFirst. Founded in 2016, iBanFirst is a cross-border payment provider built specifically for growing SMBs. Combining a simple yet powerful platform with support from our in-house FX experts, iBanFirst is transforming the cross-border payment experience for small and medium-sized enterprises. 

What do you get with iBanFirst?

• The iBanFirst platform is purpose-built for small and medium-sized businesses with significant international payment needs. 

• With an iBanFirst multi-currency account, you can hold, send and receive funds in 25+ currencies. 

• You and your beneficiaries can track your payments across borders — just like a parcel — with time-stamped updates at every step. 

• Our dedicated account managers are FX experts who know your business. They can help you build custom FX strategies and make use of our fixed, flexible and dynamic forward payment contracts to protect your business against currency fluctuations. 

• iBanFirst offers a host of integrations, so you can connect it to your existing stack, thus eliminating fragmented systems and unlocking automation across your financial processes. You can also use the iBanFirst API to integrate iBanFirst with third-party tools in your tech stack. 

What are the trade-offs? 

• iBanFirst is less suited to businesses with low international transfer volumes. 

• We don't offer debit cards like some of the other alternatives listed.
  
  

How does iBanFirst pricing work? 

With iBanFirst, there's no setup fee, no monthly subscription costs and no hidden fees — what you see is exactly what you pay. 

Our transparent pricing structure is designed with scaling international businesses in mind. iBanFirst gives you a standard exchange rate spread that applies across all your transactions. This means you can predict your costs even as your payment volumes increase, rather than watching percentage-based fees eat away your profits. 

Who is iBanFirst best for?

• iBanFirst is great for established SMBs that are outgrowing entry-level payment providers and need advanced tools for things like FX risk management. 

• Importers/exporters with international supply chains seeking the tools and expertise to manage complex payments and don't want fees eating into their margins.

• Wholesalers who rely on FX risk management tools and crave detailed payment tracking and hands-on, responsive support. 

The Bottom line

If you want to avoid tiered pricing models that never quite fit your business needs perfectly, manage foreign currency risks and receive hands-on support from FX experts who understand your business, iBanFirst is a great fit. What's more, you're able to track international payments every step of the way, with detailed, timestamped updates and tracking links you can share with your partners and suppliers. 

2. Revolut 

Revolut has established itself as a mobile-first financial solution for both personal and business users. They've expanded beyond multi-currency accounts to include payment processing, expense management tools, debit cards, and various integrations, positioning themselves as a comprehensive solution for freelancers and enterprise-level businesses.

What do you get with Revolut? 

• Revolut supports 25+ currencies and offers local account details in GBP, USD and EUR. For all other currency accounts, you use SWIFT account details for international transfers.  

• It offers a broader range of features than Wise, including tools for team spending and expense management. 

• Revolut’s fixed and flexible forward contracts mean you can manage currency risk. 

• You can use physical and virtual cards with spend controls for team members, expense categorisation, and real-time notifications.  

• Revolut also integrates with accounting, expense management and HR tools.

What are the trade-offs? 

• Revolut’s aim of appealing to all business sizes — from freelancers to enterprise businesses — comes at the expense of SMB-specific solutions. 

• Its pricing structure means key features are locked behind more expensive plans and weekend exchanges can come with additional markups. 

• Revolut’s more personalised support only comes at the 'Enterprise' tier, leaving SMBs to face the complexities of FX alone.

How does Revolut's pricing work? 

Here’s how Revolut’s tiered monthly subscription model works: 

• Basic: €10 per month, limited features  
• Grow: From €30 per month, exchange up to €15,000 monthly at the interbank rate
• Scale: From €90 per month, exchange up to €60,000 monthly at the interbank rate
• Enterprise: Custom pricing with specialised account management 

Each plan comes with a monthly allowance for currency exchanges at the interbank rate. Once you hit your limit — or if you decide to make a transfer during weekends or outside market hours — the extra fees kick in (typically 0.6% to 1%). 

Who is Revolut best for? 

• Freelancers, smaller businesses and enterprises looking for a solution with a broader range of features and don’t mind the tiered pricing structure. 

• Businesses that need to accept payments through online gateways, e-commerce integrations, and contactless QR codes. 

• CFOs and finance teams that want to manage expenses, issue company cards to their teams, set spending limits and control where the cards can be used.

The bottom line

Revolut offers extensive functionality across multiple financial areas. However, their approach of serving vastly different business sizes means you may end up paying for features that don't match your needs or find yourself limited by your current tier. Additionally, dedicated account management and personalised support are reserved for enterprise-level clients, so businesses seeking hands-on guidance through the complexities of the FX markets will need to rely on self-service resources only.

3. Wise

Founded in 2011, Wise has become one of the most recognisable names in international transfers. Originally built for personal users looking to pay less than traditional bank fees, it has since expanded into business accounts that lean on the same straightforward approach.

What do you get with Wise Business? 

• Wise keeps things simple both in terms of pricing and functionality.
• It targets both individual consumers and businesses, particularly those looking for a cost-effective solution.

• Wise’s multi-currency accounts let you hold 40+ currencies with local account details in 9 of them (including GBP, USD and EUR). For all other currencies, you can send and receive payments using SWIFT account details.

• You can integrate Wise with accounting tools in your financial ecosystem, including Xero, QuickBooks and Sage. All of these integrations come standard with every account.

• Wise also offers physical and virtual debit cards for team spending, which link directly to the account balance in your chosen currency. 

What are the trade-offs? 

• Once you're regularly moving €100,000+ annually across borders, Wise's per-transaction fees start adding up quickly. 
• If your business is growing, foreign currency risks are becoming more of a concern. Wise doesn't offer any FX risk management tools or dedicated support to help you protect your margins from exchange rate swings. 
• When you're working with larger payment volumes, sometimes chatbots, help docs and support tickets alone simply won't cut it — you need support from an expert who understands both your business and the complexities of the FX market. 

How does Wise's pricing work? 

There are very few surprises when it comes to Wise's pricing. Wise charges a one-time opening fee of €50. After that, there are no recurring monthly subscription fees — you only pay for what you use. It offers currency conversions at the mid-market exchange rate with a percentage-based fee added. There are no hidden markups or fees.

For international payments, you'll pay a percentage-based transfer fee — typically between 0.33% and 1.0% of the payment amount, depending on the currency pair. 

Who does Wise suit best?

• Digital nomads and self-employed business owners who work with international clients in multiple currencies.
• Smaller businesses starting to expand internationally and looking for an efficient and affordable solution for handling cross-border payments.
• E-commerce businesses selling products across borders with low transaction volumes. 

The bottom line

With its simple features and competitive pricing, Wise is ideal for digital nomads, freelancers and micro-businesses. However, as transaction volumes increase and currency risk becomes more significant, businesses often start to notice Wise's limitations — particularly the lack of FX risk management tools and expert support for complex international payments.

4. Airwallex

Founded in 2015, Airwallex is a cross-border payment provider that offers multi-currency accounts, international transfers and payment acceptance tools. Much like Payoneer, Airwallex positions itself as a comprehensive, all-in-one solution for payments, spending, and expense tracking with the goal of streamlining global financial management.

What do you get with Airwallex? 

• With Airwallex's multi-currency account, you can send and receive payments in 23 currencies.
• Airwallex is a payment gateway which allows e-commerce businesses to collect online payments.
• Virtual and physical cards are available for expense management.
• Teams can track and control global spending.
  

• You can sync bank feeds with Xero, QuickBooks and NetSuite at the Explore, Grow and Accelerate plans and access custom API implementations with the Custom plan.

What are the trade-offs? 

• The more complex platform features are plan-dependent and may require a steep learning curve for some users. 
• Airwallex's pricing structure isn’t the most SMB-friendly. 
• Dedicated account manager support only kicks in at the Accelerate plan.
  

How does Airwallex pricing work? 

Airwallex offers a tiered pricing structure for EU businesses:

• Explore: €0 per month (if you deposit €10,000 monthly / maintain a €10,000 balance) or €19 per month.
• Grow: €49 per month, which adds expense management and bill pay features.
• Accelerate: €999 per month.
• Custom: Tailored pricing for high-volume businesses.

Airwallex also charges a 0.5% to 1% exchange rate markup on all conversions, depending on the currency.

Who is Airwallex best for? 

• E-commerce businesses that want to create online checkout links and accept global payments.
• Freelancers and smaller businesses looking for a solution with a broader range of features and don’t mind the tiered pricing structure.
• Larger businesses that can afford the Accelerate or Custom plans and benefit from hands-on support.
  

The bottom line

Airwallex is similar to Payoneer in that it's a feature-rich provider with plenty going on under the hood. But this extra functionality means Airwallex is trying to be everything for everyone, the downside being a lack of SMB-specific tools. Plus, if you value having an account manager who understands and supports your business, you'll need to look at their Accelerate or Custom plans, which come with hefty monthly fees. 

Discover whether iBanFirst is the right fit for your business

If Payoneer isn't the right fit for your business, iBanFirst might be. 

Here's what makes us stand out: 

• Hold, send, receive and convert funds across 25+ currencies with a multi-currency account 

• Track most international payments with detailed updates at every step 

• Protect your profits from exchange rate swings with FX forward payments 

• Work with real human FX experts who understand your business and can help you navigate complex scenarios 

Whether you're expanding into new markets or managing suppliers across borders, iBanFirst gives you the clarity and tools to move with confidence. Request an account today or take our quick interactive product tour to see it for yourself.