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Payoneer
http://www.payoneer.com

Updated on June 17, 2012 by romanticz0
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General Information

Committed to meeting the highest standards in service, security, and privacy, Payoneer has partnered with the First Bank of Delaware. Payoneer utilizes, and continually invests in, top-of-the-line secure technology and adheres to stringent regulations for customer privacy, authentication and identity verification. Payoneer complies with the required KYC (Know Your Customer), BSA (Bank Secrecy Act), AML (Anti-Money Laundering) procedures and OFAC (Office of Foreign Assets Control).   Affiliate networks Internet Payment Service Provider ( IPSP ) Freelance marketplace Online marketing/surveys Stock photography  Payoneer  helps web-based businesses pay large numbers of people around the world, efficiently and securely, direct to co-branded prepaid MasterCard® cards.  Cardholders receive their funds immediately, avoid steep bank charges and hassles, and can use the card to spend or withdraw money in their local currency anywhere that accepts debit MasterCard.  Unlike traditional payment methods, no bank account or credit history is required.  The Best Way to Pay Cost-savings:  Reduce costs by about $1-2 per payment.  Rapid deployment:  Fully-hosted turn-key solution.  Localized solution:  Multi-currency solutions with multi-lingual cardholder support. Efficiency:  Eliminate administrative hassles of cutting checks, sending wires, tracking payments, re-issuing lost checks, etc.  Loyalty:  Private-label card, cardholder website and emails reinforce top-of-mind awareness.  The Best Way to Get Paid Immediate liquidity:  Payments available in minutes anywhere in the world. Convenient: Access funds in local currency, eliminating bureaucratic hassle and trips to the bank. No bank account required.  Cost-effective:  Fraction of the cost of checks or wires. Flexibility: Withdraw funds at any ATM or use for purchases at over 26 million MasterCard locations worldwide; “top-up” online by credit card or at over 59,000 Western Union locations in the US.  Branded card:  Show the world your affiliation to the organization with each payment.  Responsive:  Customer support by online chat, email or phone.  Online access:  Check account and perform transactions online 24/7. To receive a proposal for a tailored mass payout solution, fill out this Become a Partner form.

Currencies

USD

Countries of use

all

Users

All types of Internet businesses

Fees

The tables below display the maximum possible* charges:
Card
Item Price (USD) Unit How Applied
Card Application Processing No Charge No Charge No charge
Card activation $ 9.95 Per card One time - when card is first loaded
Replacement card $ 9.95 Per card One time - when issuing replacement card
Monthly account maintenance $ 3.00 Per card From available card balance each month
ATM Cash Withdrawals
Item Price (USD) Unit How Applied
ATM withdrawal - US $ 1.35 Per Trx When withdrawal is requested
ATM withdrawal -outside US $ 2.15 + upto 3% of transaction amount Per Trx When withdrawal is requested
Declined ATM withdrawal $ 0.90 Per Trx When withdrawal request is declined
Expedited Card shipping
Item Price (USD) Unit How Applied
Expedited Card shipping Based on Ship method Per card When card is ordered
Customer Service
Item Price (USD) Unit How Applied
Viewing statement online No Charge Per viewing No Charge
Customer Service calls No Charge Per call No Charge
Phone Card Use
Calls inside U.S. (only) $ 0.139 Per minute Per call
Loading Fees

You can load a Payoneer Prepaid MasterCard with a credit or debit card, or transfer from a checking account. Different fees (see below) apply.
US cardholders can also load funds with Western Union. Learn More.

Loading option First load All others Applied within
Transfer from a checking or a savings account $ 5.00 $ 2.00 4-7 business days
Visa 3.5% of loaded amount 3.5% of loaded amount up to 2 business days
MasterCard 3.5% of loaded amount 3.5% of loaded amount up to 2 business days

* shipping and cross-border fees may also apply.

Integration approaches

Get paid directly to your Payoneer Prepaid MasterCard® Use the card for online and offline purchases, or withdraw cash from an ATM - anywhere that debit MasterCard is accepted. Receive payments in dollars and immediately spend or withdraw funds in local currency Never be overdrawn - you can only spend money that has been loaded onto the card No bank account or credit check required The flat, clear and modest fee structure is lower than traditional payment methods and very competitive with other online payment methods If your card is lost or stolen, we will provide a replacement and transfer your balance (be sure to report it immediately!) Payoneer uses top-of-the-line secure technology and stringent regulations for customer privacy, authentication and identity verification

Information for developers

Affiliate networks Internet Payment Service Provider ( IPSP ) Freelance marketplace Online marketing/surveys Stock photography Payoneer helps web-based businesses pay large numbers of people around the world, efficiently and securely, direct to co-branded prepaid MasterCard® cards. Cardholders receive their funds immediately, avoid steep bank charges and hassles, and can use the card to spend or withdraw money in their local currency anywhere that accepts debit MasterCard. Unlike traditional payment methods, no bank account or credit history is required. The Best Way to Pay Cost-savings: Reduce costs by about $1-2 per payment. Rapid deployment: Fully-hosted turn-key solution. Localized solution: Multi-currency solutions with multi-lingual cardholder support. Efficiency: Eliminate administrative hassles of cutting checks, sending wires, tracking payments, re-issuing lost checks, etc. Loyalty: Private-label card, cardholder website and emails reinforce top-of-mind awareness. The Best Way to Get Paid Immediate liquidity: Payments available in minutes anywhere in the world. Convenient: Access funds in local currency, eliminating bureaucratic hassle and trips to the bank. No bank account required. Cost-effective: Fraction of the cost of checks or wires. Flexibility: Withdraw funds at any ATM or use for purchases at over 26 million MasterCard locations worldwide; “top-up” online by credit card or at over 59,000 Western Union locations in the US. Branded card: Show the world your affiliation to the organization with each payment. Responsive: Customer support by online chat, email or phone. Online access: Check account and perform transactions online 24/7. To receive a proposal for a tailored mass payout solution, fill out this Become a Partner form.

Recent news

Posted on August 19, 2019
Payoneer Launches Automated Digital FIRCs in India – the first of its kind!

For the first time in India, sellers and service providers who receive global payments are now able to get their digital FIRCs automatically delivered to them for free!* You’ll no longer need to spend time, money and effort, Payoneer has got you completely covered! Spend less time focusing on tedious tasks and more time on growing your global business.

What is a FIRC?

According to the Reserve Bank of India (RBI) and the Foreign Exchange Dealers Association in India (FEDAI), a digital FIRC (Foreign Inward Remittance Certificate) is a document that acts as proof of foreign transfers to India. Many authorities use this document as evidence that an individual or business has received a payment in a foreign currency from abroad. If you’re a seller or service exporter, a digital FIRC is an important document to own.

Payoneer automates digital FIRCs so you can focus on the important things

How does it work?

You’ll receive your digital FIRCs straight to your Payoneer account, completely free of charge, and it will be delivered and available for download within 7-15 days** of receiving a payment. No more manual requests, high fees or long waiting periods!

Once your first digital FIRCs arrives, you’ll receive an email with a password and instructions to access it. Follow the steps below:

  1. Sign into Payoneer.
  2. Click on the notifications icon and search for the message.
  3. Open the message and click on the embedded link to download the document.
  4. Enter your password.

Each time a document is available for you, we’ll send you a message directly to your Payoneer account.

Please note: This password is permanent, and you’ll need it to access all documents we generate for you, so please store it in a safe location.  If at any time you are having issues with your password, please contact us.

Not yet a Payoneer user? Sign up today!

* This offer is free for a limited time only. We will notify you before it expires.

** Any outstanding FIRC requests may take longer to process.

The post Payoneer Launches Automated Digital FIRCs in India – the first of its kind! appeared first on The Payoneer Blog.

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Posted on August 15, 2019
How Much Do Freelance Designers Earn in 2019?

Digital design has become increasingly important as more and more eCommerce businesses are springing up, requiring websites, web logos and branded social media pages. All of which is great news for graphic designers, and anyone working in UX/UI fields.

There are a number of good reasons to choose to work as a freelance graphic designer. You may want the freedom to set your own hours, enjoy the variety of working for a number of different clients, or yearn to travel the world while earning your income. Yet, despite all these issues, you’ll also want to earn a good graphic designer salary.

Whether you’re an experienced graphic designer wondering about earning the same wage when you stop working in-house, or you’re looking to earn an entry-level graphic designer salary, we’ve gathered the data to answer all your questions about a freelance graphic designer salary in 2019, so that you can decide whether freelancing is the right path for you.

What’s the average freelance graphic designer salary in 2019?

Average salary data can hide a huge range of income bands, but it’s still a good place to start. In the US, the average annual salary is around $57,000 according to two different surveys.

 Freelance Graphic Designer

Naturally, that disguises a very broad range. At one end of the scale, a top, experienced graphic designer salary is over $90,000 per year, while at the other end, entry-level graphic designer salary could be as low as $26,500. If you break it down to an hourly fee, your salary could be anything from under $15/hour to over $60/hour.

How much does a graphic designer earn in 2019 in other countries?

Today’s business world is a global village, but that doesn’t mean that your salary is going to be the same wherever you work.

Due to widespread digital accessibility, earning potential is fairly consistent in developed countries. In the United Kingdom, employed graphic designers earn anywhere from £15,000 to £19,000 starting out and up to £35,000 to £55,000 at the senior level. For freelancers, there’s only a small difference between a graphic designer salary in the UK vs. in the US – the average freelance graphic designer in the UK earns the equivalent to $22 per hour, as opposed to just over $29 per hour for the average freelance graphic designer in the US.

 Freelance Graphic Designer

Freelance Graphic Designer

When you look at developing countries, you’ll see a far bigger gap. For example, freelance designers in India get paid much less than those doing the same work in the US.

Freelance Graphic Designer

Freelance Graphic Designer

This means that the average freelance graphic designer salary in India is equivalent to under $5, compared to almost $30 for the average salary in the US. In fact, a graphic designer in Switzerland, which is home to some of the highest salaries in the world, earns more than ten times as much as a graphic designer in India! Just like in real estate, location does matter.

Here is a recent post looking at the top international websites for freelance designers looking for work.

Other factors that influence your freelance graphic designer salary

Your level of experience and the breadth and depth of your design expertise play critical roles in your earning potential. A benefit of the freelance open market is that your earning potential is essentially what clients are willing to pay for someone that has your talents. Pricing of competing freelancers does place some restrictions on top-end potential.

The following are some of the critical factors to consider when you investigate how much you can earn as a freelance graphic designer.

Expenses

You’ll definitely have expenses, including your equipment, tools, software and other supplies. Remember, your work is only profitable if you set prices at a reasonable markup above these costs. 

Scope of Work

The more technical the nature of the work, and the more unique your skills for that work are, the greater your earning potential will be. Learning challenging or unique software programs and design capabilities can increase your income. For example, UI and UX designers are in high demand at the moment. If you specialize as a UI/UX designer, you could earn an average yearly income of over $97,000. It’s significantly more than the average graphic designer salary.

 Freelance Salary

Experience

For important projects, clients often prefer people with significant background and expertise. Furthermore, demonstrating strong performance builds trust, and clients will pay more for someone reliable. An experienced graphic designer salary could be almost eight times as much as that of an entry-level graphic designer!

 Freelance Salary

Conclusion

This perspective on earning potential for freelancers in graphic design should help you figure out whether this is the right work path for you, which skills to specialize in, and even which country to target when you look for work. Freelancers benefit not only from a healthy income, but also from flexibility and diversity of work.

As you receive online money transfers from national and international work, utilize Payoneer to affordably and efficiently accept payments!

The post How Much Do Freelance Designers Earn in 2019? appeared first on The Payoneer Blog.

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Posted on August 14, 2019
Registering your Company in the US

Editor’s note: This is a guest post from Alexander Parks, Incorporation Specialist at MyUSACorporation. 

It’s no secret that to become an LLC or corporation-based in the United States, your business needs to meet a number of strict guidelines. However, these guidelines are very different for US residents than they are for non-US residents. Let’s go into more details on incorporating a business in the US as a non-resident.

What’s the most convenient business entity for non-residents?

Experts typically say that the most effective way to incorporate a business into the US is by forming an LLC. On the other hand, C-Corporation makes are subjected to double-taxation. That’s why most foreign citizens start an LLC as opposed to a corporation.

The surprising tax advantages of starting an LLC

Setting up your own business can be overwhelming, but it may seem that much more challenging when you have to choose from the various forms of business models. Of course, a corporation and a limited liability company aren’t really business models, per say.

An LLC, or limited liability company, is often considered to be an especially beneficial form of business for a startup company.

What’s an LLC?

Depending on the number of owners, the IRS automatically sees an LLC as a “disregarded entity” or partnership. This kind of business structure brings the limited liability of the company’s owners together in much the same way a corporation would have, with that of the pass-through taxation that a partnership would have. LLC advantages in this area involve minimal taxes with generous legal protection.

LLC advantages with taxes

LLC advantages involving taxes include only filing for taxes once, reduced tax rates, and no double taxation. An LLC is only taxed once regardless of the number of owners. The net income of the business is taxed via a single owner of the company and in some cases the owner can file taxes for the business through their own personal tax return.

Depending on the total income of the LLC and the owner, the tax rates of the company may be lower than that of a corporation. This is because an LLC’s tax rate is typically figured according to the personal tax rate of the owner. A personal tax rate is often reduced significantly in comparison to that of a corporate tax rate.

In addition to the LLC benefits of reduced tax rates, an LLC doesn’t have to pay a double taxation as a corporate owner does. Corporate owners pay taxes on their dividend income as well as their corporate net income. An LLC on the other hand does not have to do this.

It should be noted that laws regarding the taxation of LLC varies from state to state. What one state does not require an LLC or corporation to pay may be required by another. If you are considering forming an LLC or have questions regarding the benefits, be sure to check with the state law requirements for this business option before deciding.

How long is the process of incorporating a business into the US?

There isn’t a set amount of time that’s expected for your business to become an LLC-based one. Fortunately, you can check your state’s expected processing time to give you an idea of how long the process will take. Keep in mind that a special IRS unit is in charge of processing tax ID registrations when business owners are non-residents, so the process may take longer than usual.

Are non-residents legally allowed to use the address of their Registered Agent as the company address?

No — unfortunately, non-residents cannot use the Registered Agent address as their company address since it is used to send and receive official documents related to taxes and lawsuits. Your company address needs to be, by law, the address where your company officially operates at, i.e., the home or office in your country where your business operates.

Ultimately, being aware of these common questions can help you make the most informed decisions for your business’ needs. Incorporating your business in the US as a non-resident can be very complex, and having a well-rounded understanding is crucial to success.

Can a foreign company become an LLC or corporation in the US’ owner?

If you choose to form an LLC, then yes. LLC ownership can be expressed in two ways: by percentage or membership units, which are similar to shares of stock in a corporation. And one of the many advantages is that you can appoint your own company as an owner. If you’re wondering how to form a corporation, however, keep in mind that you’ll have to appoint a ‘director’ — an individual, not a business — to run your corporation. When it comes down to it, S corporations can have no more than 100 shareholders, and each one must be a resident of the United States.

What annual documents do business owners need to file?

There isn’t a ton of paperwork involved with setting up LLCs and corporations in the US as a non-resident, but it does take some preparation. You’ll have to file an annual tax return, and if you’re forming a corporation, you may need to renew your State of Incorporation status using a form that updates the company’s address, officers, and Registered Agent. Experts recommend consulting with an accountant to look over the specific details of your LLC or corporation’s legal and financial documentation.

If a business doesn’t have a physical office space in the US, do they still need a business license?

This depends on the type of business you run. Some licenses relate to the county and city of the office, while others are more specialized and may not require a license at all. Talk to a professional for the specifics of your business licensing needs.

Ultimately, knowing the answers to these common questions is the best way to make the most informed decisions about your business’ needs. For more information about corporation and LLC advantages, contact MyUSACorporation.

Alexander Parks is an Incorporation Specialist at MyUSACorporation and specializes in management and business development. He was also named one of Quora’s top 10 writers.

 

The post Registering your Company in the US appeared first on The Payoneer Blog.

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Posted on August 13, 2019
Your Guide to Vietnamese eCommerce

As one of the fastest growing economies in Asia, Vietnam represents a huge opportunity for anyone interested in taking their business into new territories. The country is no stranger to the world of eCommerce – it’s already a leading wholesale clothing manufacturer in the burgeoning print-on-demand (POD) industry. Now, it’s become a top destination for global sellers.

Vietnam’s thriving eCommerce market consists of 35.4 million users and has already brought in $2,709 million in 2019. The country has 59.2 million internet users, well over half the total population. That figure is expected to reach 67.8 million by 2021. While smartphone penetration lags behind, with 35 million users owning a device, that number is expected to rise to 40 million by 2021. For sellers, this means that now’s the time to open up a shop in Vietnam and get a foothold in a rapidly expanding market.

Here, we’ll be diving into everything you need to know about the Vietnamese market, including shopping trends and preferred marketplaces, as well as some logistical difficulties you might encounter when getting started.

Top Vietnamese eCommerce Marketplaces

Three Vietnamese merchant sites rank among the top 10 eCommerce marketplaces in Southeast Asia. Tiki.vn, sendo.vn, and thegioididong.vn are competing with and sometimes outperforming Lazada Vietnam, Alibaba Vietnam, Shopee Vietnam, and JD.com Vietnam, which are all much larger marketplaces that cover the whole of Southeast Asia. Additionally, both Tiki and Sendo recently received a cash injection from outside investors, signaling plans to expand further.

When deciding on where to open your store, note the following top eCommerce marketplaces in Vietnam:

  • Shopee Vietnam
  • Tiki.vn
  • Lazada Vietnam
  • Sendo.vn
  • Thegioididongvn

Considerations Before Expanding to Vietnam

Before taking your business to Vietnam, be sure to consider the following:

Payment Preferences

Only 25% of online transactions in Vietnam involve digital payment methods. The rest are conducted using cash on delivery, which might create logistical headaches when it comes to your payments.  

vietnamese cash

Many eCommerce orders are paid for in cash

Fortunately, digital payment platforms, including Payoneer, are investing in developing logistics and infrastructure in the country, enabling a secure payments solution for your business. 

Popular Vietnamese Product Categories

When it comes to the products that customers in Vietnam are shopping for, the following five categories are the most popular:

  1. Electronics and media ($685 million in 2019)
  2. Fashion ($661 million in 2019)
  3. Toys, hobby, and DIY ($438 million in 2019)
  4. Furniture and appliances ($478 million in 2019)
  5. Food and personal care ($448 million in 2019)

Age Demographics For Vietnamese Customers

When deciding on which age groups to target in Vietnam, a breakdown of internet usage can be a good indicator of who your likely customers will be. In the 16-24 year old demographic, a whopping 96% use the internet. This number drops to 91% for 25-34 year olds, 85% for 45-54 year olds and just 62% for those over the age of 55.

This means that when deciding on a product line for your store, you’re more likely to succeed with something geared towards the younger generations. 

eCommerce Shopping Habits in Vietnam

In Vietnam, the vast majority of online shopping is done on desktop computers. That said, the forecasted increase in mobile device usage is likely to change how eCommerce is conducted in the coming years.

vietnamese desktop shopper

Most eCommerce orders are placed from personal computers

Current shopping habits in Vietnam can be broken down as follows:

  • 71% of eCommerce transactions take place on desktop computers.
  • 18% of purchases are made on a mobile device.
  • 9% of purchases are made on a tablet or other internet-enabled device.

Vietnamese eCommerce Logistics

One of the main obstacles to eCommerce in Vietnam is logistical, especially when it comes to deliveries. Only 34% of Vietnam’s citizens live in urban areas, which means that deliveries often need to be made to distant, scattered, rural customers. But this has given rise to some impressive innovations, including automated drop-off delivery boxes where customers can collect their purchases.

eCommerce in Vietnam is Ripe for Sellers

While Vietnam’s eCommerce market is still relatively small compared with giants like China and Japan, it’s expanding at an astonishing pace. This presents an excellent opportunity for you to expand your store and tap into a new customer base.

Payoneer is here to help! Our cross-border payments solution provides you with the tools you need to successfully expand your business and break into new markets.

GET STARTED

The post Your Guide to Vietnamese eCommerce appeared first on The Payoneer Blog.

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Posted on August 8, 2019
Running a Successful Outsourcing Business: Recap from our Cebu Forum

Last weekend, Payoneer held a successful forum in Cebu, Philippines in which over 120 professionals attended to learn more about how to run a successful outsourcing business! The forum brought together local businesses and industry experts to discover best practices for scaling their business globally and how Payoneer can help them go beyond payments.

Payoneer Philippines

Outsourcing in Cebu

The event opened with remarks by Leo Cipriano L. Urbiztondo, Jr., Regional Director of the Department of Information and Communication Technology (DICT) in the Philippines who shared his thoughts on the outsourcing industry specifically in Cebu. Leo mentioned that the future looks bright as Cebu was named the ideal location for outsourcing outside of metro Manila. In fact, there are more than 300 IT BPO firms that currently operate within Cebu, employing over 140,000 people with an average monthly salary of more than 3.8 Billion PHP!

Payoneer Forum

People, Process and Tools

Following Leo was Jun Baranggan, CMO of TeleworkPH Outsourcing Solutions, Inc. who shared his 3 elements to success: People, Process and Tools. Jun discussed that for any successful business, it’s critical to hire people who are passionate about the business and who share the company’s vision. As for the way a business should go about, it’s important to understand if processes are customer centric and efficient enough. The tools that a business chooses should be easy to use and implement as well as comply with the financial budget.

Payoneer Forum

Getting the Most Out of Your International Payments

Next up, Payoneer’s Head of Marketing for SEA, Eileen Borromeo who spoke about how to get the most out of your international payments. Eileen shared her ideas on how foreign exchange rates are always changing and that each change has an impact on your earnings especially with those high fees that can ultimately affect your net salary. That’s where Payoneer enters as our cost-effective payment solution is here to help you save more.

Payoneer Forum

Women in Tech

As for the last session, “Women in Tech” was a panel put together by Fiona Kesby, CEO and Co-Founder of GO-VA.com.au, Lorna Bondoc, Founder of YOVEO Digital, Timmy de Jesus, Head of Operations at Payruler and Laurice Chiongbian, CEO of Qavalo. The panel shared with the audience key statistics on equal employment opportunities and gender equality in the Philippines and how the country consistently supports women in caregiving roles, giving them the ability to pursue entrepreneurship.

Payoneer Forum

Furthermore, a woman’s role in her own household has a great influence on the way she runs a business as they tend to make time for what’s important and make sure that people are always looked after.

That’s a wrap for the Payoneer Forum in Cebu! Thank you to all those who attended, business professionals and speakers for sharing all your insights and tips. Hope to see you next year!

Payoneer Philippines

The post Running a Successful Outsourcing Business: Recap from our Cebu Forum appeared first on The Payoneer Blog.

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