Though Paypal is the most common online payment platform in the world, users in Nigeria cannot receive money on the platform. This makes Paypal useless to online merchants and freelancers in Nigeria who need to receive payments or funds from Europe or the USA,, or withdraw payments from their online account through local banks in Nigeria. But with Payoneer, an international payment gateway like Paypal Nigerians can receive and withdraw payments from anywhere in the world.
A Payoneer account registered in Nigeria can be used to pay for goods and services worldwide. The best part is that the New York based fintech company founded in 2005 allows users to enjoy a simple and cost-effective payment solution in Nigeria as users in Nigeria are able to open a virtual USA bank account for receiving payments From US and European companies and also apply for Payoneer MasterCard that can be used with ATMs both in Nigeria and globally, and users can withdraw their money in Naira. Payoneer accounts in Nigeria can also be linked to a local bank account making it easy to transfer money from Payoneer to that account – domiciliary account.
The number of platforms that use Payoneer globally has been on the increase ashas become the preferred payment method for online retailers, freelancers and online marketers doing business internationally. Professionals and businesses in Nigeria can now deal globally using Payoneer as their all-in-one solution for receiving all their cross-border payments, both from global marketplaces as well as the companies they work with directly. Freelancing marketplaces like Fiverr, Upwork and other websites already accept Payoneer as a payment method.
To open a Payoneer account in Nigeria, all that is needed is a valid email address that will be used to receive funds, a valid postal, office or home address for delivery of your Payoneer MasterCard, and valid identification card e.g drivers licence, international passport, National ID card etc. A user needs to have at least $30 in his or her Payoneer account before he or she can apply for Payoneer MasterCard in Nigeria.
So while PayPal may be the best and easiest platform for international online payments in the world, Payoneer is the best and easiest in Nigeria. Sign up for a FREE Payoneer account here and start collecting global payments!