OneBrowsing > Compare > Payoneer vs PayPal vs Square: Key Pros & Cons Analyzed

Payoneer vs PayPal vs Square: Key Pros & Cons Analyzed

Updated on 07 Apr 2025

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 4.5

(Reviews: 7.9K)

Est. users: 5M

Price Ranges: Free - $29.95 - $29.95

 4.5

(Reviews: 45K)

Est. users: 435M

 4.7

(Reviews: 3.5K)

Est. users: 2M

Price Ranges: $10 - $20

Payoneer vs PayPal vs Square

Payoneer primarily focuses on cross-border payments and is widely used by freelancers and businesses for international transactions, while PayPal is a versatile online payment platform suitable for both personal and business uses, offering more consumer protection. Square, on the other hand, is best known for its point-of-sale solutions and services tailored for small businesses, facilitating in-person and online payments.

Payoneer

  1. Focuses on cross-border payments
  2. Used widely by freelancers
  3. Supports multiple currencies
  4. Offers bank transfers and withdrawals
  5. Higher fees for certain transactions
  6. Allows receiving payments from marketplaces
  7. Prepaid debit card option available

PayPal

  1. Widely recognized online payment system
  2. Supports both personal and business accounts
  3. Instant transfers between PayPal accounts
  4. Integrated with numerous online retailers
  5. Lower fees for domestic transactions
  6. Offers buyer and seller protection
  7. Mobile payment capabilities through app

Square

  1. Designed for small businesses
  2. Provides point-of-sale solutions
  3. Includes invoicing and inventory management
  4. Flat-rate transaction fees
  5. Offers hardware for brick-and-mortar sales
  6. Integrates with e-commerce platforms
  7. Provides analytics and sales reports

Key Differences

  1. Global Reach

    Payoneer has an extensive global reach, allowing users to send and receive payments in multiple currencies across many countries. This makes it better for international transactions compared to PayPal and Square, which have more limited international capabilities.

    Winner: Payoneer

  2. Fees and Pricing

    Square typically has transparent and straightforward pricing for its services, with no monthly fees for basic accounts, making it more user-friendly for small businesses and startups compared to Payoneer and PayPal, which can have more complex fee structures.

    Winner: Square

  3. User Experience

    PayPal offers a more refined user interface and has been around longer, making it highly familiar and accessible to users for personal and business transactions. It is often better known and widely accepted online.

    Winner: PayPal

  4. Integration with E-commerce Platforms

    Square provides excellent integration with various online sales platforms, making it easier for businesses to set up shop without needing extensive technical knowledge. Unlike Payoneer and PayPal, Square's solutions are particularly tailored for retail and service-oriented businesses.

    Winner: Square

  5. Payment Processing Speed

    Payoneer generally offers faster payment processing times for cross-border transactions compared to PayPal, which can hold funds temporarily for verification.

    Winner: Payoneer

  6. Features for Businesses

    Square provides a comprehensive suite of features specifically designed for businesses, including point-of-sale systems, inventory management, and analytics tools, whereas Payoneer and PayPal focus more on payment processing without as robust business tools.

    Winner: Square

  7. Customer Support

    PayPal offers extensive customer support, including live chat, phone support, and a wide variety of help resources, which many users find superior to Payoneer and Square, where support options may not be as comprehensive.

    Winner: PayPal

Distinct Features

PayoneerPayPalSquare
Global payout solutions allowing cross-border paymentsPayPal Credit for financing optionsPoint of Sale (POS) hardware for in-person transactions
Dedicated receiving accounts for different currenciesWide acceptance in online marketplaces and storesSquare Dashboard for detailed sales reports and analytics
Working capital loans for businessesOne Touch payment feature for faster checkoutSquare Online for creating online stores
Integration with large freelance platforms like Upwork and FiverrPayPal Shopping and PayPal Giving Fund optionsAppointment scheduling and management tools
Mass payout services for companies with many freelancersBuilt-in buyer protection policiesBuilt-in inventory management features

Pricing Overview

Payoneer

View Pricing Plans  

  1. Starter (Free) - Ideal for freelancers or small businesses with limited international transactions
  2. Pro ($29.95) - Recommended for businesses looking for more features and dedicated support
  3. Premium ($29.95) - Designed for businesses with significant international payment volumes

Starter

Free / N/A

Entry-level plan for beginners or occasional users

  • Global payment service

  • Receive payments in multiple currencies

  • Withdraw funds to bank account or card

Pro

$29.95 / Per month

Suitable for growing businesses with regular international transactions

  • Additional currency receiving accounts

  • Lower withdrawal fees

  • Priority customer support

Premium

$29.95 / Per month

Advanced plan for high-volume users or established businesses

  • Lower transaction fees

  • Higher transaction limits

  • Dedicated VIP customer support

Square

View Pricing Plans  

  1. Starter ($10) - Small businesses looking for essential payment tools
  2. Plus ($20) - Growing businesses needing additional invoicing capabilities

Starter

$10 / Monthly

Basic plan for small businesses

  • Online payments

  • Invoices

  • Payment links

Plus

$20 / Monthly

Advanced plan for growing businesses

  • All Starter features

  • Recurring invoices

  • Virtual Terminal

Indepth Overview

PayoneerPayPalSquare
Payment Solutions
Global Reach ★4.5 - Widely available but limited in certain countries. ★4.9 - Available in over 200 countries, very accessible.★3.5 - Primarily available in North America, limited globally.
Currency Support ★4.7 - Supports over 50 currencies, great for international business. ★4.6 - Supports over 25 currencies, good for general use.★3.8 - Mainly USD supported, limited currency diversity.
Transaction Fees ★4.0 - Competitive fees but varies by transaction type. ★3.8 - Higher fees for international transactions than some competitors.★4.2 - Clear and transparent fee structure, favorable for small businesses.
E-commerce Support
Marketplace Integration ★4.0 - Strong integration with platforms like Amazon. ★4.8 - Seamless integration with most eCommerce platforms.★4.2 - Good integration but not as extensive as PayPal.
Payout Processing ★4.3 - Fast payout service for freelancers and businesses. ★4.5 - Quick and reliable payouts for sellers.★4.0 - Daily payouts, clear timelines.
Invoicing ★3.5 - Basic invoicing features available. ★4.7 - Robust invoicing features with customizable templates.★4.5 - Easy-to-use invoicing, includes automatic reminders.
Fees and Pricing
Account Setup Fee ★5.0 - No initial fees for account setup. ★5.0 - Free to set up a personal or business account.★5.0 - No charges for setting up an account.
Monthly Fee ★5.0 - No monthly fees for basic accounts. ★5.0 - No monthly maintenance fees.★4.5 - Optional monthly subscription for advanced features.
Withdrawal Fees ★4.2 - Varies by method, competitive rates for bank transfers. ★3.8 - Approximately $1 fee for standard withdrawals.★4.0 - Standard fees apply, with free instant deposits.
Customer Support
Availability ★4.0 - Support through chat and email, no phone support. ★4.5 - 24/7 support through various channels including phone.★4.3 - Offers phone, chat, and email support.
Resources ★3.8 - Documentation and FAQs available online. ★4.6 - Extensive help center with tutorials and articles.★4.4 - Comprehensive online resources and guides.
Response Time ★4.1 - Generally responsive but can vary. ★4.3 - Typically quick response times.★4.0 - Good response times but wait times may vary.
Unusual Features
Mass Payout Service ★4.6 - Unique feature for businesses to pay affiliates.
Work Marketplace ★4.2 - Payoneer offers a global marketplace for freelancers.
Multi-Currency Cards ★4.0 - Allows funds in multiple currencies for global use.
PayPal Credit ★4.5 - Offers credit to customers, boosting sales potential.
QR Code Payments ★4.7 - Allows easy payments via QR codes at physical stores.
PayPal Here ★4.1 - Mobile POS system for in-person sales.
Square Register ★4.4 - Integrated POS system designed for brick-and-mortar stores.
Online Store Builder ★4.3 - Allows easy setup of online stores with no monthly fee.
Appointment Scheduling ★4.0 - Unique feature for service-based businesses to manage bookings.

Comparision Reviews

Alex Johnson

Seattle, WA

Payoneer offers excellent cross-border payment solutions, especially for freelancers and businesses that operate internationally. Its fees for receiving payments are generally lower than PayPal's, making it a cost-effective choice for many users. However, PayPal's user interface is more intuitive and provides a better overall user experience. For instant transactions, PayPal is superior. I would rate Payoneer higher for its global accessibility, but PayPal excels in ease of use.

Payoneer 4.2

PayPal 3.9

Maria Gomez

Miami, FL

PayPal stands out for its wide acceptance among online merchants, which can be a crucial factor for e-commerce businesses. It also offers buyer protection services that can enhance customer trust. In contrast, Payoneer is better suited for receiving payments from clients across different countries. Its lower fees for international transactions are a significant advantage. While both are reliable, PayPal is better for overall transactions in a domestic environment.

Payoneer 3.7

PayPal 4.4

James Lee

Chicago, IL

In terms of customer support, PayPal outshines Payoneer with its quicker response times and extensive help resources. On the other hand, Payoneer provides better pricing options for global payments, which is crucial for freelancers who work with international clients. Overall, while PayPal offers superior customer service, Payoneer is the better choice for those prioritizing cost efficiency.

Payoneer 3.8

PayPal 4.6

Samira Patel

San Francisco, CA

While both Payoneer and PayPal serve their purposes well, I find Payoneer to be more advantageous for business transactions with international clients due to its competitive fees and exchange rates. However, PayPal's user-friendly platform makes it easier for personal transactions. Overall, if your focus is on business, Payoneer might be the better option, but for everyday use, PayPal is more convenient.

Payoneer 4

PayPal 4.2

David King

Austin, TX

PayPal is well-known for its fast and secure transactions, making it a favorite for many online shoppers. However, Payoneer's robust invoicing features and lower transaction fees for businesses working overseas give it a decisive edge in the B2B space. If you are a freelancer dealing with cross-border clients, I would recommend Payoneer for its specific features tailored to that need.

Payoneer 4.3

PayPal 4

Comments

Alice M.
Hey folks! So, Payoneer vs PayPal vs Square, what's the scoop? I feel like they all have their quirks.
Bob the Builder
Lol, quirks is one way to put it! PayPal is like that old friend who never stops talking about their new car... gets real annoying 😅
Charlie Parker
True that! But seriously, PayPal's buyer protection is a big plus, right? I think it's pretty reliable for e-commerce.
Diana S.
Yeah, but I've heard that PayPal's fees can be a killer. What about Payoneer? I've heard it's better for freelancers dealing internationally.
Eve 2023
Totally agree, Diana! Payoneer has lower fees for cross-border transactions! But the withdrawal process can be a bit slow. Anyone else feel that?
Alice M.
For real! And then there's Square, which is awesome for in-person transactions but might not be the best for freelancers. What are your thoughts?
Bob the Builder
Square is seriously killing it with their hardware for small businesses! But yeah, for remote work and freelancing, it falls flat.
Charlie Parker
Exactly! At the end of the day, I guess it depends on what you're looking to do - online sales, international work, or just barrel through transactions like a pro.
Diana S.
Definitely, Charlie! It's like choosing between pizza toppings. Everyone has their own flavor. 🍕
Eve 2023
Haha, well, no matter the choice, just read the fine print and know the fees! Or else you’re gonna end up sitting there like, 'Why do I owe so much?' 😅

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