Stripe vs Payoneer: Which One Should You Pick?
Stripe vs Payoneer, both are trusted names in international payments, but they serve different needs. Stripe is great for online businesses with developer-friendly tools, while Payoneer is popular among freelancers and marketplace sellers.
In this blog, we break down their features, pricing, pros, and cons. And if neither feels right, we’ve also included a solid alternative worth exploring, which is more affordable than both options.
Stripe Vs Payoneer: Understanding the Differences
What is Stripe
Stripe is an Irish-American comprehensive cross-border payment solution that allows businesses to accept payments in 135+ currencies. It offers flexible UI components like masking styling and error handling to help businesses build a seamless branded checkout experience. It also supports one-time and recurring payments through instant payment links or by embedding its checkout solution on the website directly. Stripe could be a good choice if you run an e-commerce business with international buyers.
However, Stripe operates on an invite-only model in India. This means you cannot directly sign up on the website; you have to send them an invite, and if they accept it, you get access to the product. There is no definite timeline for when your invite will be accepted because Stripe is only providing access to businesses focused on global expansion.
Pros of Stripe
- A comprehensive platform offering billing, invoicing, and subscription management
- Enjoys an excellent global reputation — trusted by 2 million customers worldwide
- Stripe is PCI Service Provider Level I certified by PCI DSS meaning it complies with the highest level of security measures
- Easy to set API integration with e-commerce websites like Shopify and Woocommerce
- Modern dashboard but easy-to-navigate interface
Cons of Stripe
Pricing
Processing Fees: 4.3% of the transaction amount
Currency conversion fee: 2% of the current exchange rate
Additional fee: Stripe also levies ancillary fees for chargebacks and disputes. For example, Stripe deducts Rs. 1000 as a chargeback fee in the event of a lost dispute
No FIRA: Stripe doesn’t provide a FIRA. Payment advice is sent to your email address, which you can use to obtain FIRA from your bank at an additional fee
What is Payoneer
Payoneer was founded in 2005 in New York. It is a global payment platform allowing businesses to send and receive payments in 70+ currencies. It offers multi-currency virtual accounts to users in countries like the US, UK, Europe (EU), Australia, and China, with other flexible payment modes like bank transfers and card payments.
In India, you can use the Payoneer payment gateway to receive international payments. Payoneer also provides Indian customers with free digital FIRA to stay compliant with the rules. Ordinarily, payments made through local bank transfer or wire transfer/SWIFT take approximately three business days to be credited to your account. Payoneer has also built itself as an enterprise-compliant solution by offering features like mass payouts and API support.
Pros of Payoneer
- Integrations with marketplaces like Airbnb and Fiverr make it easy to receive international payments
- Free digital FIRA saves money from applying for it to banks
- Mass payouts and API support for enterprise companies
- Create virtual accounts in regions like the US, UK, Australia, China, and EU to receive local transfers from there
Cons of Payoneer
- High fees
- An annual account fee is charged if you haven’t received USD 2,000 or equivalent within 12 months of opening the account
- Doesn’t offer a live exchange rate
- No India-based support team
Payoneer Pricing for Receiving International Payments
Payoneer to Payoneer: Free
Virtual Accounts: 1% for USD, free for all currencies
ACH Bank Debit (US only): 1%
Credit Card: 3.2%+ $0.49
Withdrawal Fees: A 3% withdrawal fee is applied when withdrawing the payment from your local bank account in India. This applies to all the above payment methods.
Stripe vs Payoneer: A Quick Comparison
Based on what we have covered so far, it might be a bit too much for you to wrap your head around.
To make it easier to comprehend, we have summarized the key differences between the payment solutions in this table. This will also help you make an informed decision about which one is closer to your requirements.
| Stripe | Payoneer | |
| Availability | Invite-only in India | Open to all businesses |
| Fees for global payments | 4.3% transaction fee + 2% currency conversion fee | Payoneer to Payoneer: 3% forex markupVirtual account: 1% transaction fee (only for USD) + 3% forex markupACH (US): 1% transaction fee + 3% forex markupCredit card: 3.2% transaction fee + $0.49 fixed fee + 3% forex markup |
| Compliance | No FIRA provided | FIRA provided for every transaction |
| Payment methods | Card only | Multiple options |
| Settlement Time | Upto 5 business days | Upto 3 business days |
Skydo: An affordable alternative to receiving international payments
Skydo is a cost-effective alternative to Stripe and Payoneer and can address the pain points that Indian businesses and freelancers might face on these platforms.
Skydo offers flat-fee pricing with no additional account maintenance charges or fixed fees. Here’s the breakdown of the fee structure:
- $19 for payments up to $2,000
- $29 for payments between $2,001 to $10,000
- 0.3% for payments above $10,000
Plus, Skydo gives you the live forex rate with zero markup, something both platforms don’t offer. That means your payment gets converted at the actual market rate on the day of transfer, not a rupee less
Stripe and Payoneer may have strong global reach, but for Indian businesses, they often fall short. Their fees are higher, settlements are slower, and support is limited, with no India-based team and mixed customer reviews. Many users report long wait times and unresolved issues, especially when it comes to compliance and troubleshooting.
Skydo offers a better alternative:
✅ Lower, transparent pricing
✅ 24-48 hour settlement
✅ Dedicated India-based support
✅ Skydo has received in principle RBI-approval to operate as a Payment Aggregator for Cross-Border Payments
Built for Indian exporters, freelancers, and global sellers, Skydo makes international payments fast, affordable, and fully compliant.
Think it’s a fit? You’ll know in 5 minutes.
👉 Sign up now and get started.
