Skrill vs PayPal vs Payoneer

Largely depends on your country. Some services might not be available in other countries. I find Paypal convenient when it comes to time it takes to transfer funds to mobile wallets. Skrill is fine too but mobile wallets might not be the in some regions. Payoneer is fine since it comes with a MasterCard and you can shop anywhere they accept cards. There are no crazy limitations such as in Paypal and Skrill. Anyways, there is no harm having them all if you are a freelancer like me accepting payments from different clients worldwide.

Skrill vs PayPal vs Payoneer

1). Skrill

Skrill is an eWallet similar to PayPal, but it was originally focused on gambling and e-sports transactions. Nowadays, they’ve been focusing a lot on buying and selling crypto. you can use Skrill in three different ways, 1) to pay online, 2) to send money, and 3) to buy and sell crypto­­currencies.

To pay online and send money

With Skrill, you can move money between sites and withdraw it to your bank account. The disadvantage is that it’s currently only available in a limited number of countries and you can only send money to a bank account or mobile wallet.

To buy and sell crypto­­currencies

You can transfer forty different currencies into Bitcoin, Ethereum, Litecoin, and others. If you are into crypto, Skrill is one of the best at buying and selling.

2). Paypal

PayPal is an eWallet that allows you to send and request money online. You can transfer money locally or abroad to your friends, family, online shops, and auction sites like eBay. It’s a solution that is geared towards both consumers and businesses.

You can use PayPal in two ways, 1) To make online payments and 2) to receive money online.

Sending money online (online payments)

Sending money on PayPal is quite simple, all you have to do is get the recipient’s email address associated with their PayPal account (or use their PayPal.Me), select how much money you want to send, and click “send”.

Receiving money online

If you register your credit card or bank account with your PayPal account, you’ll be able to send payments using the option Send and Request Money. That money will then be credited to the recipient’s account and can then be transferred to a bank account, or used to make a payment.

Online shops that offer PayPal as a payment option have the option to post the PayPal logo on their website. There are two ways to offer PayPal as a payment option, 1) Pay Now and 2) Shopping Cart.

Account types on PayPal

PayPal offers two types of accounts, 1) Personal and 2) Business.

The personal account is great for people who want to buy stuff online, send or receive money to friends and family, and occasionally sell.

The business account is great for people who want to accept transactions by card (both debit and credit) and PayPal account. If you already have a payment solution, you can add PayPal as an alternative.

3). Payoneer

Payoneer is an innovative digital payments platform for businesses. You can make transactions locally or with international businesses in over 150 countries around the world.

Payoneer is great for freelancers, e-commerce, affiliate marketers, dropshippers, marketplace sellers, business owners, (Amazon, Walmart, eBay, etc.), and specialists who get funds from abroad. Their main focus is enterprises and small and medium businesses.

You can use Payoneer in three ways: 1) to make/receive business payments, 2) to make eCommerce VAT payments, and 3) to transfer funds to different currencies.

I hope this information helps you better understand how to use each platform, the types of accounts they offer, and who would benefit the most from using their service.