Top Payoneer alternatives in South Asia [2026]
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Discover the top alternatives to Payoneer for global business payments across South Asia.
Key takeaways
- Payoneer supports sending payments in 70+ currencies across 190+ countries, but receiving from non-Payoneer customers can cost up to 3.2%
- Top Payoneer alternatives in Pakistan, Bangladesh, and India include WorldFirst, Elevate Pay, PayPal, Wise, and RazorPay
- WorldFirst offers local currency accounts in 15+ currencies with zero setup and monthly fees. Virtual cards are also available at no added cost
- Elevate Pay is a USD-only payment provider for receiving payments in Pakistan and Bangladesh
- PayPal offers broad global reach for receiving funds but does not offer multi-currency accounts
- Wise Business is receive-only in India and not supported in Pakistan and Bangladesh (personal accounts only), which materially limits send and hold functionality for businesses in these markets.
- Razorpay is an India-focused payment gateway with strong UPI integration and multi-currency receiving options in USD, GBP and EUR
Payoneer is a digital payment platform that offers both individual and business accounts, though the account types and features available vary by market.1 It supports sending payments in 70+ currencies across 190+ countries and offers a Mastercard-powered card in eligible markets, with each card linked to a single currency.2
Payoneer’s fee structure includes specific costs that businesses may want to factor into their decision.
Fees for receiving from non-Payoneer customers can reach 3.2% + US$0.49 via credit card and sending to non-Payoneer accounts ranges from 1%-4% of the transaction amount.3 The business card also carries a US$29.95 annual fee and is linked to a single currency, so businesses that spend in multiple currencies need a separate card for each.2 3 (Payoneer fees can vary by regions. )
This article covers the top Payoneer alternatives available to businesses across India, Pakistan and Bangladesh, so you can evaluate which account may suit your needs. Features, fees and availability differ across providers, and the right choice depends on how and where your business operates.
1. WorldFirst
WorldFirst is an international payments provider that helps businesses manage cross-border payments. Through the World Account, businesses can open local currency accounts in 15+ major currencies, collect payments from 130+ global marketplaces, send and receive payments in 100+ currencies, and manage international cash flow from a single online platform.
There’s no setup or monthly fee and receiving funds doesn’t attract any fees either. Businesses can hold funds in major currencies including USD, GBP, EUR, CNH, AUD and more, then convert funds at competitive rates when it suits them.
The World Card is a Mastercard-powered business payment card with zero fees when paying in any of 15 supported major currencies (as long as you have sufficient balance in those currencies). You can make transactions in 150+ currencies using the World Card.
For businesses sourcing from China, World Pay is the authorised international payment provider for 1688.com. It lets buyers pay 1688 suppliers in CNH directly from the World Account without needing a Chinese bank account.
| Key features |
|
|---|---|
| Main fees | Monthly fee: Zero Opening virtual local currency accounts: Zero Receiving payments: Zero Holding funds in multiple currencies: Zero Sending payments to other World Account holders: Zero Sending payments: Standard payment fee for Pakistan and Bangladesh is 1.5% Paying 1688.com suppliers: Up to 0.8% currency conversion fee Getting a World Card: Zero for card issuance |
*Fees checked in April 2026. Terms and Conditions Apply.
2. Elevate Pay
Elevate Pay is a payment provider that offers local USD accounts to freelancers, remote workers and businesses. Users can receive USD payments via ACH and wire transfers and withdraw funds to their local bank accounts. Elevate Pay does not offer multi-currency accounts or virtual cards.4
| Key features |
|
|---|---|
| Main fees5 | Monthly fee: Zero USD account fee: Zero Receiving funds via ACH: Zero Receiving wire transfers (domestic and international): US$30 Outbound ACH: US$1 (1-3 business days); same-day ACH US$2 International transfers (Pakistan and Bangladesh): FX rate + US$1.50 Currency conversion: Not specified; market FX rate provided by payout partners Business card: Not available |
*Fees checked in April 2026.
3. PayPal
PayPal is a global digital payment platform with a large international user base. Businesses can receive payments from clients worldwide using PayPal, though the most straightforward experience is when the payer also has a PayPal account.
PayPal does not offer multi-currency accounts, so there’s no way to hold funds or wait for a better exchange rate. When payments are received, PayPal automatically transfers the funds to the linked local bank account.6
| Key features |
|
|---|---|
| Main fees6 | Receiving international commercial payments: 4.40% + fixed fee (varies by currency) Multi-currency account: Not offered Currency conversion: Conversion fee applies; rate set by PayPal Business card: Not offered for Indian business users |
*Fees checked in April 2026.
4. Wise
Wise is a global payment provider that allows users to send and receive money in multiple currencies. It offers separate accounts for individuals and businesses.7 In India, Wise Business accounts support 8+ local currencies but they are receive-only which means businesses can receive and convert funds but cannot send or hold funds.7
In Pakistan and Bangladesh, Wise supports personal accounts only. Business accounts are not available.
For eligible Indian businesses (including freelancers, sole proprietorships, Private Limited Companies, Limited Liability Partnerships and General Partnerships), Wise deducts a transfer fee, an e-FIRC fee and GST on received payments. Every time funds are to be received, a new receive funds request must be raised. SWIFT and wire payments in USD, GBP and EUR attract a fee of up to US$6.11.8
| Key features |
|
|---|---|
| Main fees8 | Monthly fee: Zero Multi-currency account fee: Zero Receiving domestic payments (non-SWIFT/non-wire): Zero Receiving USD, GBP and EUR via SWIFT or wire: Up to US$6.11 Holding funds in multiple currencies: Not supported Sending payments: Not supported for Business in India Currency conversion: Real-time exchange rate applies Business card: Not supported |
*Fees checked in April 2026. India-specific.
5. Razorpay
Razorpay is a payment provider that supports online businesses, eCommerce stores and service providers. It enables merchants to accept payments via credit cards, debit cards, UPI, and wallet payments.9
Razorpay also offers multi-currency accounts in USD, GBP and EUR, allowing businesses to receive funds in 130+ currencies.10
| Key features |
|
|---|---|
| Main fees9 | International card payments via payment gateway: 3% platform fee per transaction FX charges: Additional FX charges apply International bank transfers: 1% per transaction Business card: Not supported |
*Fees checked in April 2026.
Find the best Payoneer alternative for your brand
Payoneer is one option among several for businesses in India, Pakistan and Bangladesh managing international payments, but it is not the only one. WorldFirst, Elevate Pay, PayPal, Wise and Razorpay each take a different approach–from full multi-currency accounts with card access to narrower USD-specialist or domestic-focused payment gateways.
The right choice depends on your currency needs, where your customers and suppliers are, and how you want to manage receiving, holding, converting and sending funds. Use the fee and feature breakdowns above to evaluate which provider fits your business.
FAQ
What is the best alternative to Payoneer?
There is no single best alternative, it depends on your business needs. WorldFirst offers multi-currency accounts and a business payment card for cross-border businesses.
Does Payoneer charge a monthly fee?
Can Payoneer alternatives be used for marketplace payments?
Some alternatives support marketplace payouts through local currency account details. WorldFirst supports 130+ global marketplaces and payment gateways including Amazon, Etsy and Stripe. Wise allows marketplace use through local bank account details in supported markets. Razorpay supports accepting payments from platforms such as Amazon US and Upwork through its multi-currency accounts.10 Elevate Pay does not specifically confirm marketplace payout support, and PayPal operates as a receive-and-convert platform rather than offering local currency accounts.
Which Payoneer alternative supports payments to China?
Among the alternatives covered, WorldFirst offers a CNH local currency account and supports payments to 1688.com suppliers through World Pay, which is the only authorised international payment provider for 1688.com.
Sources
- https://www.payoneer.com/
- https://payoneer.custhelp.com/app/answers/detail/a_id/18226/~/account-with-card—faq
- https://www.payoneer.com/about/pricing/
- https://www.elevatepay.co/
- https://help.elevatepay.co/hc/en-us/articles/18040869186833-How-does-Elevate-Pay-s-pricing-work
- https://www.paypal.com/in/business/paypal-business-fees
- https://wise.com/in/business/receive-money
- https://wise.com/in/pricing/business
- https://razorpay.com/pricing/
- https://razorpay.com/accept-international-payments/
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
Author
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