Using Payoneer In Azerbaijan: Does It Work?

Payoneer is an online financial platform that allows users to manage their finances with its e-wallet solution. It is one of the largest payment gateways in the world, especially in Asian countries where Paypal is not supported. The platform offers a range of services, including online purchases and payments, instant money transfers, mass payment services, and currency management. One of its key features is the Payoneer Prepaid Mastercard, which enables users to make purchases and debit them directly from their account.

Payoneer is a popular platform among freelancers and small businesses that operate globally. It is known for its low fees, security, and ease of use. Signing up for a Payoneer account is free and can be done by providing proof of ID and address.

This introduction paragraph provides an overview of Payoneer's functionality, benefits, and sign-up process, with a specific focus on its availability and use in Azerbaijan.

How to open a Payoneer account in Azerbaijan

Yes, Payoneer works in Azerbaijan.

Step 1: Download the Payoneer app or use a browser

You can download the Payoneer app on your phone or access it from any browser.

Step 2: Provide personal information

The app or browser will ask you for some personal data to open the account. It is important to fill in your contact and security information as accurately and precisely as possible. Double-check what you have written to ensure there are no mistakes, as any irregularities may cause the account to be blocked in the future.

Step 3: Upload proof of ID and address

To comply with regulatory requirements, you will need to provide proof of your identity and address.

Step 4: Deposit funds

Once your account is open, deposit funds through various methods such as credit cards, bank transfers, or other payment processors.

Step 5: Receive and send payments

After depositing funds, you can start receiving and sending payments through your Payoneer account.

By following these steps, you can easily open a Payoneer account in Azerbaijan and take advantage of the platform's features, such as receiving payments, transferring money, and paying for products and services online.

Payoneer as a PayPal alternative

Payoneer is a payment processor that facilitates international and domestic transactions. It is supported by many leading digital brands, including Airbnb, Google, Amazon, and Upwork.

Payoneer is a good alternative to PayPal for international transactions, particularly for businesses operating in countries where PayPal is not supported. It is also a good option for businesses that need to make mass payments in multiple currencies.

Payoneer vs. PayPal

| Feature | Payoneer | PayPal |

|---|---|---|

| Supported Currencies | 150 | 26 |

| Supported Countries | 200 | 200+ |

| Card Availability | Prepaid Mastercard | Business Debit Mastercard |

| Annual Fee | $29.95 | $0 |

| Card Activation Fee | Yes | No |

| Withdrawal Fee | $1.50-$3.00 | $0 |

| Currency Conversion Fee | 2% | 4% |

| Transaction Fee | 3% | 3.49% + fixed fee |

| International Transaction Fee | 1.5% | 1.5% |

| Mass Payments | 200 payments | 10,000 payments |

| Customer Support | 24/7 phone, chat, email | Online chats, email, phone |

Advantages of Payoneer over PayPal

• Lower fees for receiving international payments
• Supports more currencies and countries
• No monthly fee
• Simpler platform with more flexibility on integrations
• Better customer service

Disadvantages of Payoneer compared to PayPal

• PayPal has a more established reputation and is more widely accepted
• PayPal has instant transfer capabilities
• PayPal offers a payment gateway solution

Payoneer's Mastercard

Payoneer is a payment platform that allows users to send and receive payments without needing a merchant account. It is especially popular in Asian countries where Paypal is not supported.

Payoneer offers a Mastercard debit card to its users, which can be used to make payments from their Payoneer accounts. The card is available in USD, EUR, GBP, and CAD and can be used anywhere that Mastercard is accepted, including online, in stores, and at ATMs. It can also be added to a digital wallet.

The card is ordered through the Payoneer website and can be delivered either physically or virtually. The physical card is delivered within 25 days, while the virtual card can be used immediately. There is a $12-25 card fee, which is deducted from the user's account after they receive their first payment.

The Payoneer Mastercard has several benefits, including:

• Saving on withdrawal fees by spending funds directly from the Payoneer balance
• Global acceptance, allowing users to pay for ads, subscriptions, inventory, and more
• Increased spending limits of up to 200,000 USD daily
• The ability to order multiple virtual cards for different currencies and expenses
• Easy tracking of expenses, as card transactions are automatically synced with Xero or Quickbooks Online

Using Payoneer for international payments

To get started, you need to create a Payoneer account. This involves signing up on the website or downloading the mobile app and providing some personal information. Once your account is set up, you can deposit funds into it through various methods, such as credit cards, bank transfers, or other payment processors.

One of the key advantages of using Payoneer for international payments is that it offers a multi-currency account. This means you can access multiple currencies simultaneously, eliminating delays and additional fees associated with foreign currency exchanges. With Payoneer, you can send money internationally to bank accounts, Payoneer balances, or cards. The platform also enables you to send money to various business partners directly from a single dashboard, without the need to switch platforms for each payment.

Payoneer also offers a prepaid Mastercard that allows you to access your funds and make purchases, withdraw cash, and pay bills at locations worldwide that accept Mastercard. This card is available in USD, GBP, EUR, and CAD.

In terms of fees, Payoneer charges vary depending on the transaction type. While some transactions, such as Payoneer-to-Payoneer transfers, are free, others may incur fees. For example, receiving a payment from a customer via credit card will cost you 3% of the amount, while receiving a payment via eCheck will incur a 1% fee. Withdrawing funds from an ATM using the Payoneer Mastercard will cost $3 per transaction, and there is a $1 fee for cancelled transactions.

Payoneer is a popular platform for international payments, especially in Asian countries where Paypal is not supported. It is a cost-effective and versatile option, providing a seamless payment experience for you, your clients, and your partners.

Payoneer fees

Payoneer is an online financial platform that allows users to manage their finances with its e-wallet or electronic wallet solution. It is a popular platform for freelancers and small businesses that work globally.

Payoneer offers a range of services, including online purchases and payments, instant online money transfers to anywhere in the world, mass payment services, and currency management. The platform also offers a prepaid Mastercard that can be used for purchases and debited directly from the user's account.

While Payoneer does not charge any fees for signing up or receiving money from other Payoneer accounts, there are some fees associated with using the platform. Here is a breakdown of the fees:

• Card Fee: After receiving the first payment to a Payoneer account, a fee of $12-25 (depending on the country) is deducted as a card fee.
• Sending and Receiving Payments: There are small fees associated with sending and receiving payments through a Payoneer account. These fees vary depending on the country and the type of transaction.
• Currency Conversion: When making a payment with currency conversion, a conversion fee will be applied. This fee varies depending on the currencies involved and the amount being converted.
• ATM Withdrawals: Withdrawing cash from ATMs using the Payoneer Mastercard incurs a fee of $3.15, €2.50, or £1.95.
• Card Delivery: There is a fee for standard delivery of the Payoneer Mastercard, and an additional fee for express shipping via DHL.
• Annual Card Fee: The Payoneer business debit card has an annual fee of $29.95.
• Transaction Fees: For customers located in the USA, United Kingdom, or European Union, there may be transaction fees when sending payments to a recipient's bank account in the local currency. These fees vary depending on the amount being sent and the currency involved.
• Minimum Fee: In certain cases, a minimum fee may apply for payments or withdrawals below a certain amount.
• Inactivity Fee: If a user does not make any transactions via their Payoneer account or card in any 12-month period, an annual account fee of $29.95 will be charged.
• Registration Fee: In certain countries, a registration fee may be charged when signing up for Payoneer.

It is important to note that the fees mentioned above may vary depending on the user's location and account type. Users can review the most updated fees by signing in to their Payoneer account and accessing the "Fees" link. Additionally, when receiving payments, users have the option to discuss with their clients beforehand and decide who will bear the applicable fees.

Frequently asked questions