Payoneer vs. Airwallex: Which Global Payment Platform is Best?

If you’re one of the 300,000 businesses in the US that sells internationally, you’ll need a payment platform that can accept payments in different currencies without cutting into your profits.¹

There are several money service providers to choose from, which can be cheaper and more efficient than traditional banks.

This article compares Payoneer vs Airwallex, two popular cross-border payment platforms. Comparing the two options will help you decide which one best suits the needs of your business. It also introduces Wise Business as a smart alternative for fast and cost-effective international payments.

Payoneer vs Airwallex: Quick Overview

Feature	Payoneer	Airwallex
Setup Fee	Free	Free
Transaction Fees	0–3% (varies by payment method)	0.3–1% (varies by currency)
Currency Conversion Fee	0.5–2% above mid-market rate	0.3–0.6% above mid-market rate
Supported Currencies	70+	50+
Supported Countries	190	180 receiving, 50 accepting
Payout Options	Bank transfer, other Payoneer accounts, prepaid card, local wallets	Bank transfer, virtual card
Business Account Availability	Yes	Yes
API integration	Limited	Full API support
Payment cards	Prepaid Mastercard	Virtual card
Customer support	24/7	Monday-Friday 8am – 6pm PDT/PST
Regulation and Licensing	Licensed in multiple regions	Licensed in major financial markets

Payoneer

Payoneer is a payment platform aimed at freelancers, small businesses and online marketplace sellers. Its multi-currency account enables users to receive, hold and send funds in more than 70 currencies. It also offers a range of payout options to withdraw funds, including bank transfers and a branded prepaid debit card.

The service covers over 190 countries and territories and supports 17 languages.² Payoneer offers relatively low transaction and currency conversion fees when sending and receiving money between Payoneer accounts. But fees are higher for transactions between non-Payoneer accounts.

Payoneer is widely used to receive payments from platforms such as Amazon, Fiverr and Upwork.

Airwallex

Airwallex offers a multi-currency business account to make high-speed international transfers. Businesses can have local currency accounts for over 60 countries. They can accept payments from over 180 countries and make transfers to over 150 countries.³ Businesses can also issue employees with virtual multi-currency cards for expenses.

Airwallex processes international payments rapidly – it says around 90% of international transfers on its platform arrive within the same day.

Unlike Payoneer, Airwallex does not charge transaction or withdrawal fees and offers competitive foreign exchange rates. The platform offers application programming interface (API) integration for automated payment processing. It also offers integrations with other platforms such as Shopify and Xero.

Target Users and Market Focus

Payoneer is well suited to freelancers and other small business owners who need to receive payments from international clients or platforms in various currencies. Payoneer integrates directly with platforms like Upwork, Fiverr, and Freelancer.com. Sellers on platforms like Amazon, eBay, and Etsy can use Payoneer to receive payouts from international sales. Payoneer’s ability to provide local receiving accounts in multiple major currencies helps sellers avoid high conversion fees and long payment processing times. Affiliate marketers also use Payoneer to receive commission payments from affiliate networks.

Airwallex targets mid-sized and large businesses, e-commerce companies and SaaS providers with complex payment flows that require sophisticated global business solutions. Airwallex users can create multi-currency business accounts. They can also connect to platforms like Shopify and WooCommerce to streamline order processing and payouts.

Airwallex supports real-time currency conversion with low transaction fees, making it cost-effective for companies that handle high transaction volumes.

Subscription-based businesses can benefit from automated billing and real-time currency conversion, and embed payment processing directly into their service using Airwallex’s API.

For larger businesses that operate in multiple countries, Airwallex’s centralized platform simplifies cash flow and expense management as well as international money transfers.

Comparing Features of Airwallex and Payoneer

How do Airwallex’s features stack up against Payoneer’s?

One of the key differences between the two services is their approach to multi-currency accounts. Payoneer provides users with receiving accounts in 9 major currencies, including EUR, GBP, JPY, AUD, and CAD.⁴

Airwallex provides access to a broader range of currencies, offering Global Accounts in 23 currencies located in 10+ countries/regions. This allows users to collect funds locally from 60+ countries and regions. Users can receive funds through domestic transfer methods or internationally via the SWIFT network.⁵

In terms of payment methods, Payoneer features more payout options than Airwallex. Users can withdraw funds to a local bank account, transfer to another Payoneer account, or use the Payoneer Prepaid Mastercard to spend funds directly. Airwallex primarily supports bank transfers and virtual business cards. However, Airwallex can automate payments and manage bulk transfers, which makes it more efficient for businesses managing high transaction volumes.

When it comes to platform integration, Airwallex offers a comprehensive API that makes it easy for businesses to automate payment flows and manage transactions directly from their own platforms. While Payoneer does have some API capabilities, it is more focused on marketplace integrations.

Customer support is another area where Payoneer and Airwallex differ. Payoneer has an AI-powered customer service assistant on its website, and provides 24/7 access to support over the phone. They also provide live chat and email messaging.⁶ Airwallex provides a customer service telephone line, but only during business hours (8am-6pm PDT / PST). This may cause operational disruptions to businesses that have issues outside those hours. Airwallex’s focus on automation and self-service tools means that most businesses will rarely need to contact customer support.⁷

Fees and Pricing

Fee Type	Payoneer	Airwallex
Receiving Payments from Domestic Cards	3.99%	2.8% + $0.30
Receiving Payments from International Cards	3.99% (+$0.49 in some countries)	4.30% + $0.30
ACH Bank Transfers (USD)	1% (capped at $1.50)	Free
Local Payment Methods	Free for Payoneer-to-Payoneer transfers; up to 1% for local bank transfers	Free for bank transfers; up to 1% for 160 local payment networks
SWIFT Transfers	Up to $15 per transaction	$10 per transaction
Currency Conversion	0.5–3% above the mid-market rate	0.3–1% above the mid-market rate
Withdraw to Local Bank Account	Up to 2% above the mid-market rate	Free (in local currency)
Prepaid Card Fees	$29.95 annual fee; up to 3.5% foreign exchange fee	Not available
Account Maintenance Fee	$29.95 annual inactivity fee after 12 months of no activity	$0
ATM Withdrawal Fees	$3.00 per withdrawal + currency conversion fees	Not available
Chargeback Fees	$20 per dispute	$25 per dispute
Monthly Account Fee	None	None

One of the key considerations when comparing payments is the difference in cost.

Payoneer charges 0-3.99% of the transaction amount to receive payments, and up to 3% to withdraw funds in a different currency to a bank account. Accounts can receive payments from another Payoneer customer’s balance for free, while credit card payments in all currencies incur a fee of up to 3.99%. In some countries, there is also an additional fixed fee of $0.49. There is a 1% fee for ACH bank debits from US accounts and a charge of 3.99% + $0.49 for PayPal US payments.⁸

It is cheaper to receive money through Airwallex. Airwallex charges 2.8% + $0.30 to receive domestic card payments, 4.3% + $0.30 for international cards, and $0.30 + a payment method fee for more than 160 local payment methods. It also offers low foreign exchange rates, charging 0.5-1% above the mid-market rate for currency conversion.⁹

This means businesses that conduct frequent or large currency conversions can save money on FX rates using Airwallex, as these charges can add up significantly over time.

However, Payoneer is cheaper for holding debit cards, as Airwallex charges $5 per month for each employee card.

Payoneer charges a $29.95 annual fee if an account is inactive for 12 months. In contrast, Airwallex doesn’t charge inactivity fees.

Supported Currencies and Countries

Payoneer covers more than 190 countries and supports withdrawals in over 70 currencies.

Airwallex allows businesses to transfer funds in 60+ currencies to 150+ countries. It can issue cards in over 50 countries.

Which Platform Is Best for Your Business?

The right platform for your business will largely depend on the size of your business, the type and complexity of the transactions you handle, and your overall payment processing needs.

Businesses that manage a large volume of cross-border payments and need local accounts to send and receive money may find using Airwallex is easier and cheaper.

Freelancers and online sellers working on multiple international platforms may prefer Payoneer to set up and receive payments quickly.

Both Payoneer and Airwallex have competitive transfer speeds, taking 0-2 business days for money transfers. Incoming payments are released instantly, although freelance platforms and marketplaces have their own payout times. Payoneer also supports instant P2P payments.

If your business receives marketplace payouts or you want to use a prepaid card, Payoneer is a practical choice. The ability to transfer funds between Payoneer accounts, withdraw funds to a local bank account, or spend funds from a prepaid Mastercard appeals to freelancers and small businesses that need fast and flexible access to their earnings.

Conversely, if you’re running a larger business that requires global scalability and the ability to manage multi-currency transactions efficiently, consider Airwallex. Its range of local currency accounts and real-time, low-cost exchange rates provides businesses with greater control over international payments. Airwallex’s automation and bulk payment features are also ideal for businesses managing payments to suppliers, payroll, and international invoices.

Key Factors to Consider

Fees and costs: Understanding the fee structure is crucial when choosing between Payoneer and Airwallex to ensure you don’t overpay.

Supported currencies and countries: Payoneer offers broader coverage, supporting more than 190 countries and 70 currencies, compared with Airwallex’s 60+ currencies in more than 150 countries.

Platform integration and automation: Airwallex excels in automation and platform integration through its powerful API, while Payoneer focuses more on direct integrations with marketplaces.

Payment flexibility and access to funds: Payoneer offers more flexibility in withdrawal methods, while Airwallex focuses on bank transfers.

Customer support and user experience: Payoneer’s more hands-on 24/7 customer support model is more suitable for individual users and small businesses, while Airwallex’s focus on automation aligns better with larger, more independent business operations.

Ease of use and onboarding: Payoneer offers a straightforward sign-up process and a user-friendly dashboard to quickly link to marketplaces. Airwallex’s onboarding process is more tailored to businesses.

Settlement times: Payoneer’s settlement times depend on the payment method and the receiving country. Airwallex offers real-time or same-day transfers for major currencies, which gives businesses an edge in managing cash flow.

Security and regulatory compliance: Both Payoneer and Airwallex are highly secure and compliant with international financial regulations. Airwallex’s enterprise-grade features make it more appealing for larger companies with stringent compliance requirements.

Scalability and business growth: Payoneer is well-suited for individuals and small businesses scaling in the freelance, gig, or ecommerce sectors. But Airwallex is more suitable for long-term growth as businesses expand in multiple markets.

Use Cases for Each Platform

Payoneer is used by freelancers, independent contractors, and small businesses that need a straightforward way to receive payments from international clients or platforms. Its strong integration with leading marketplaces like Amazon, eBay, Fiverr and Upwork, is ideal for businesses selling products or services through global e-commerce platforms.

Using Airwallex benefits large enterprises, e-commerce companies, and SaaS providers with more complex payment requirements. Its multi-currency accounts, competitive currency conversion rates and automation capabilities are aimed at businesses handling large transaction volumes across multiple countries. Companies with frequent international transactions can make significant savings on fees.

Discover Wise Business: The Easy Way to Manage Business Finances in Multiple Currencies

If you’re looking for an account to handle transactions in various countries and currencies, consider Wise Business as an alternative. Wise allows you to send and receive international payments at the mid-market rate, without hidden markups and additional fees.

Register with Wise Business 🚀

You can receive payments like a local with major currency account details. For example, you can get a UK account number, even as a US business. You can also withdraw funds from Amazon, Etsy, and other ecommerce accounts with ease.

Some key benefits of Wise Business include:

Major local account details to receive international payments with ease No monthly account fees just a simple one-off fee for account details Receive payments from e-commerce platforms such as Amazon or via Stripe. Free invoicing tool to generate and send invoices. Create invoices using the Wise invoice generator or invoice templates. Accounting integrations, including a QuickBooks Bill Pay connection. Bill payments will be synced, matched, and categorized in QuickBooks for simple reconciliation. BatchTransfer. Fast payment of up to 1,000 people.

Open a Wise Business account online

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Sources:
¹Small Business | United States Trade Representative
²How Does a Payoneer Account Work? A Payment Account For International Business
³Open a Business Account Online for International Transactions | Airwallex
⁴International Money Transfers with Local Accounts | Payoneer
⁵Which currencies can I get a Global Account in and what payments can I receive?
⁶Payoneer's Security Center
⁷Get support
⁸Low fees and no hidden costs | Payoneer Fees
⁹Pricing & fees | Airwallex Official Site
All sources checked April 2025

	Editor & Business Expert:
	Panna is an expert in US business finance, covering topics from invoicing to international expansion. She creates guides and reviews to help businesses save time and make informed decisions. You can read more useful business articles on her author profile.

	Author:
	Nicole is a professional journalist with two decades of experience in writing and editing, she has also run her own freelance business for the past five years. Her expertise spans the financial and technology industries, including payment processing and small business banking.