The online payment processors/services play an important role in processing international e-commerce, freelancing payments, personal transfers within the shortest time. The PayPal, Payza, Payoneer are the best online payment services in the world. Freelancers who work online to make money completely depend on these payment processors to receive the payments to their local bank account fast and cheap. The alternative options like wire transfers are really expensive and small payments cannot be transferred. People used to ask me which is the best among PayPal, Payza, and Payoneer. So, I’ve decided to write this article comparing Paypal vs Payza vs Payoneer. I’ve discussed each part in detail for you to find which is the best among these Global payment services.


PayPal vs Payza vs Payoneer

About comparison:

  • The PayPal, Payza, and Payoneer are compared based on various factors. Each factor is rated from 1 to 10 based on its performance.
  • All the factors are discussed in detail and each factor is given a rating.
  • The comparison is made in three sections general factors, important factors and critical factors. The critical factors are very important.
PayPal vs Payza vs Payoneer:
General Factors:
1. Site design and layout:
  • A neat site design and user-friendly layout are very important for the websites. Sites with poor design and nonuser-friendly will be ignored by the users. The sites discussed here are big companies where they have high-quality web design. The site designs & layouts are discussed in this section.
  • The PayPal is the best when it comes to site design and layout. Their site is very professional and highly user-friendly. The users can find the link to the features very easily. The PayPal lists the incoming, outgoing transactions and invoices on the homepage helps us to easily manage our account. The color, font and other elements on the web page help the basic users to operate their account easily.


PayPal Homepage compared
  • The Payza have now launched a new responsive web design to improve the user experience on both desktop and mobile. The Payza design and layout is good. The members can easily access any part of the Payza from the homepage. The account transactions listed on the homepage is good but not good and informative as PayPal.


Payza homepage compared with PayPal and Payoneer
  • The Payoneer has a simple design with not too many features like PayPal and Payza. The new Payoneer users can get confused a little bit to access the inner pages. Members cannot find the transactions on the homepage and the details on the inner page is not good as its competitors.


Payoneer Homepage compared
Winner: PayPal.
Scores: PayPal – 5 | Payza – 4.5 | Payoneer – 3.5.
Important factors:

In this section, some of the important factors of online payment services are discussed.

2. Account setup:
  • Starting an account on PayPal is very simple. Anyone can start a PayPal account using the email ID. While starting the account, the name should be entered correctly which cannot be changed without proper documentation. Otherwise, the account will be approved instantly. The PayPal users can immediately pay others using the credit or debit card. However, the account must be verified to receive money to the bank account. The account will become verified once the bank account and tax ID is linked to the  PayPal account.
  • Starting the Payza account is simpler than the PayPal account. But to activate the account fully, the scanned copy of government documents should be added. Only after the manual documents verification, the members can enjoy full features of the Payza account.
  • Starting a Payoneer account is tough compared to the PayPal and the Payza because Payoneer is highly secure and they do not accept everyone. Each and every account will be manually approved by the Payoneer. To start a Payoneer account, the user must submit the bank account details while signing up. It might take several days to approve the Payoneer account.
Winner: PayPal.
Scores: PayPal – 5 | Payza – 4 | Payoneer – 3.5.
3. Linking bank account and credit card:
  • The bank account should be linked to the PayPal account to make the PayPal account completely verified. The bank account should be added after the signup. Linking the bank account to the PayPal account is very simple. To link, the bank account details must be entered and confirmed. PayPal will deposit a small amount in the linked bank account. Once the test amount deposited in the bank account is entered correctly, the account will become verified. The credit card can be linked similarly during the signup. The PayPal users can link unlimited bank account and cards to their account.
  • Adding the bank account to the Payza account is very simple. The bank account details should be added in the wallet section. The bank account will be instantly linked after confirming the details submitted. The same applies to the credit cards.
  • We link our bank account to Payoneer during the signup process itself. So, the funds received can be withdrawn to the bank account immediately after starting the account. The Payoneer users should request for the Payoneer Mastercard® to load funds. The Payoneer users cannot link more than one bank account. To change the linked bank account, we must submit the new bank document or voided check leaf. Payoneer is very strict about the account security. 
Winner: Payza.
Scores: PayPal – 4 | Payza – 4.5 | Payoneer – 3.5.
Critical Factors:
In this section critical factors such as transaction, sending & receiving money, withdrawal, speed, feed etc. are discussed in detail.
4. Receiving money:
  • As the online payment service users, people expect to receive money to their account faster. All these payment processors give their best to receive the funds as soon as the sender send the money.
  • The PayPal users can receive the money instantly in their account when the sender sends the money.
  • The Payza users will receive money instantly to their account.
  • Since the Payoneer loads the money on the receiver account from the sender account, the loading will be instant. However, it might take few hours to load money in the sender card and send the payment to the receiver.
Winner: PayPal.
Scores: PayPal – 10 | Payza – 9.5 | Payoneer – 9.
5. Sending money:
  • Sending the money to other users is an important feature of the online payment services. Let us see how these sites perform.
  • The PayPal allows all the users to send money to the other PayPal users and companies. However, the PayPal does not allow to send money inside their own country in some countries. The PayPal users can use the funds in the wallet or use credit/debit cards to send money to the other users. Also, PayPal does not allow to store/hold funds in the PayPal account in some countries. Such users can send money only using the cards linked to their account.
  • Payza users can send and receive money to other Payza users without any difficulties once the account is verified. The Payza users can use cards and wallet balance to send money to the other Payza users.
  • Payoneer has limitations in sending money to the other Payoneer users. Payoneer allows sending money to other Payoneer users only using the Payoneer Mastercard®. The Payoneer Mastercard® is not available in all the countries. Also, the Payoneer allows only the verified companies to send money without limitations.
Winner: Payza.
Scores: PayPal – 8 | Payza – 9 | Payoneer – 5.
6. Withdrawal speed:
  • Not only the internal transaction should be faster but also the bank transfer. The online users love the payment processors that send money to the local bank account at a high speed.
  • The PayPal transfers the fund to the bank account at a high speed. The withdrawal process varies based on the country. On average it can take up to 2 – 3 days to complete the bank transfer.
  • The Payza is the slowest compared to the PayPal and Payoneer. They take so many days to initiate and complete the bank transfer. When the user requests to withdraw funds, the Payza will transfer only after review. The Payza will send a mail when the payment is initiated. From that time it might take up to 5 days to deposit funds in the bank account.
  • Payoneer is the best in transferring funds to the local bank account. They transfer funds with a day or two to the local bank account.
Winner: Payoneer.
Scores: PayPal – 8 | Payza – 5 | Payoneer – 10.
7. Fees(Most important factor):
  • The fees are the most important factor of all. While few can pay more for faster payments, many want their transactions to be done for fewer fees even though the process is done slower.
  • The PayPal is not a cheaper service to send, receive, transfer and withdraw funds. The PayPal charge transaction fees for almost all the transactions except few.
  • The Payza charge high fees compared to the other online payment services.
  • The Payoneer is the cheapest online payment service that collects fewer fees to use their services. The Payoneer collect fees only for specific services.
  • Refer the table given below to learn the fees structure.
Winner: Payoneer.
Scores: PayPal – 7 | Payza – 6 | Payoneer – 9.


PayPal vs Payza vs Payoneer


Factors PayPal Payza Payoneer
Sending payments Free Free Free
Receving Payments 2.90% + $0.30 2.90 % + $0.30 Free
Currency conversion 1 – 4.4% 2.9% 2%
Withdrawal fees up to 2% up to 2% up to 2%
*Fees may vary accross different countries.
8. Currency conversion fees:
  • Most of the online payments are processed in USD. Many countries do not accept USD deposits and usage of USD. So, the USD should be converted to the local currency. In this section let see who can do it cheaper for you.
  • I’ve used all these payment services where the PayPal is a bit costly compared to the other payment processors. There will be a deduction of 2% to 4.4% when the currency conversion is done before the transfer.
  • The Payza is also a costly service where they charge 2.9% + Fixed charge while converting the currency.
  • The Payoneer only charge 2% for currency conversion. The Payoneer is the cheapest while comparing the three payment services.
Winner: Payoneer.
Scores: PayPal – 7 | Payza – 5 | Payoneer – 9.
9. Availability:
  • No matter if the service is cheapest and fastest. The services should be available in widely to make it available for everyone in the world.
  • If a service is provided in very few countries it will not be considered as a reliable one. In the case of this comparison,
  • The PayPal services are available in over 200 countries and support 25 currencies.
  • The Payza services in available for the people in over 191 countries and few include the PayPal unsupported countries.
  • The Payoneer is available in over 200 countries and they support 150 currencies makes it the best payment processor to receive freelance funds all over the world.
Winner: Payoneer.
Scores: PayPal – 9.5 | Payza – 8 | Payoneer – 10.
10. Product usage:
  • Even if the product is available worldwide, it must be used by potential customers to send and receive funds. So,  the product usage is one of the important factors.
  • There are over 205 million active PayPal users in the world makes it the largest online payment service.
  • The Payza is used by over 26 million (unofficial source) people in the world.
  • The Payoneer is used by only 4 million approved users around the world makes it the least used payment services among the three.
Winner: PayPal.


Scores: PayPal – 10 | Payza – 8 | Payoneer – 5.
11. Security:
  • The security features are the important one for any company or organization. In the case of payment processing, the company should have high-level security. Let’s see how these sites work.
  • The PayPal is highly secure payment service in the world. All the transactions are encrypted so no hackers get us into trouble. The Problem is anyone with the PayPal password can log into the account from the new computer and make transactions if the credit card is linked to the PayPal account. So, PayPal users must protect the password carefully.
  • The Payza is also a highly secure payment processor similar to the PayPal. The Payza users cannot sign into their account from a new computer. They will be asked to confirm the device by submitting the code send to the email/mobile phone. So, the Payza users do not have to worry about their account security unless they have set the same password for the Payza account and email account.
  • The Payoneer is the most secure of all. When the account holders log into their account, even they cannot find the full details of their account from Payoneer as every detail is highly secured. If the account holders log in from a new device, they must verify the device.
Winner: Payoneer.


Scores: PayPal – 9 | Payza – 9.5 | Payoneer – 10.
Other important factors:
  • Payza accepts bitcoin payments while PayPal and Payoneer do not support bitcoins. Payza users can use the bitcoins to pay, send money to other Payza users and convert bitcoins to local currency.
  • Payoneer issue their own card to send and receive funds. Payza also issues the card on request.
Final Review:
  • The PayPal is the widely used payment processor in the world which can be used to send and receive payments instantly. The PayPal charge somewhat higher fees to make transactions and convert currencies. But the transactions are processed at very high speed. PayPal is highly secure.
  • The Payza is also a widely used payment processor where it is supported in countries where PayPal is not available. The Payza transaction speed is slow compared to the others and they charge higher fees than PayPal and Payoneer. The Payza can be considered as an alternative to the PayPal and Payoneer.
  • The Payoneer is the best online payment services which is accepted worldwide. The Payoneer is fastest, cheapest and highly secure compared to the PayPal and Payza. The Payoneer is not user-friendly and they don’t allow us to manage the account settings without proper documentation. On the whole, the Payoneer should be considered first depending on the availability.

Comparison table:

In this section, all the features are compared in the table for review.


PayPal vs Payza vs Payoneer


Factors PayPal Payza Payoneer Winner
General Factors comparision list
Site layout & design 5 4.5 3.5 PayPal
Important Factors comparision list
Account setup 5 4 3.5 PayPal
Linking bank products 4 4.5 3.5 Payza
Critical Factors comparision list
Receving money 10 9.5 9 PayPal
Sending money 8 9 5 Payza
Withdrwal speed 8 5 10 Payoneer
Fees structure 7 6 9 Payoneer
Currency conversion 9 5 9 Payoneer
Product availability 9.5 8 10 Payoneer
Product usage 10 8 5 PayPal
Product security 9 9.5 10 Payoneer
84.5 74 77.5 PayPal


Overall score comparison:
This is the final score comparison. When the PayPal, Payza, and Payoneer is compared in various factors they have scored 84.5, 74, 77.5 respectively. All the three payment services are great and they have the own pros and cons but PayPal leads in almost all the factors. If I was asked to select the Payment processor to withdraw my money, my first choice would be Payoneer, second choice PayPal and third choice Payza. Because Payoneer is cheap and fastest of all. However, to send payments, PayPal will be my first choice.
To select the payment processor, make a short research about their service in your country.

Disclaimer: The comparison is written based on the payment services used in selected countries. Their services vary in each country where their performance, fees structure and other factors might differ from the rating given above. Please be aware. Give your comments to help others in your country.

Useful links – Beginners guide to setup accounts:

PayPal Review.

Payza Review.

Payoneer Review.

Create an account on these Payment processors:

 Click to join Payoneer
 Click to join PayPal 


Click to join Payza


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