Case study

Wise vs. Payoneer

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Written by
Lou Zarcal
Published on
March 2, 2023
Wise vs. Payoneer


As international business transactions become more common, there is a growing need for reliable and secure online payment platforms.

Wise and Payoneer are two popular options for transferring funds across borders. While both platforms offer similar services, they have distinct differences in terms of speed, security, fees, conversion rates, and customer service.

Wise is known for its lightning-fast transfer times, competitive fees, and excellent exchange rates.

Payoneer offers a wider range of payment options and is better suited for businesses that need to make mass payments to multiple recipients.

In this article, we'll compare Wise vs Payoneer in terms of speed, security, fees, conversion rates, and customer service.


When it comes to speed, Wise is the clear winner. Wise transfers money instantly between its customers, which means you can send and receive money in seconds. T

he process is quick and straightforward, and you can even set up automatic transfers if you need to make regular payments.

Payoneer, on the other hand, takes longer to process payments. It usually takes between 2-3 business days for payments to be processed.

Winner: Wise


Both Wise and Payoneer take security very seriously.

Wise is regulated by the Financial Conduct Authority (FCA) in the UK and is authorized to issue electronic money. It also uses two-factor authentication, SSL encryption, and biometric login to protect user accounts.

Payoneer is also regulated and authorized by various financial regulatory bodies around the world. It uses state-of-the-art encryption technology to protect user data and transactions.

Winner: Tie


When it comes to fees, both platforms have different structures. Wise charges a flat fee per transaction and a percentage of the amount being transferred. This fee varies depending on the currency being transferred and can range from 0.35% to 2%.

On the other hand, Payoneer charges a percentage fee of up to 3.5% on each transaction, as well as additional fees for withdrawals and currency conversions.

Winner: Wise

Conversion Rates

Conversion rates are essential when it comes to international payments.

Wise offers competitive exchange rates that are close to the mid-market rate, which is the rate that banks and financial institutions use when trading with each other.

Payoneer, on the other hand, offers slightly lower exchange rates than Wise, but they are still competitive in the market.

Winner: Wise

Customer Service

Both Wise and Payoneer offer excellent customer service, but Wise stands out for its customer support team's responsiveness and helpfulness. Customers can contact Wise via email, phone, or live chat, and they usually receive a response within a few hours.

Payoneer also offers excellent customer support via email, phone, or live chat, but their response time can be slightly slower than Wise.

Winner: Wise

Both Wise and Payoneer are reliable platforms for international payments. However, Wise offers faster transfer times, more competitive fees, better exchange rates, and more responsive customer support.

Payoneer, on the other hand, offers a more extensive range of payment options and is better suited for businesses that need to make mass payments to multiple recipients.

Ultimately, it depends on your needs and preferences, but Wise is the clear winner in terms of overall value for money.

While Wise and Payoneer are well-known options, Parallax offers an even more enticing alternative. With its low fees, competitive exchange rates, and lightning-fast transfer times, Parallax is quickly becoming the go-to choice for those who need to send and receive money internationally.

Try Parallax today and experience the benefits of a payment platform that puts you first.

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Wise vs. Payoneer