A look at the Payoneer card’s features, fees and alternatives for businesses in South Asia
Key takeaways
- The Payoneer card is a Mastercard-powered card available as a physical or virtual card
- Each card is linked to a single currency and carries an annual fee of US$29.95
- Eligibility requires a minimum of US$100 in payments received to the Payoneer account in the preceding six months
- The Payoneer card is connected to a Payoneer business account
For businesses in Pakistan and Bangladesh handling international spending on SaaS subscriptions, ad platforms, supplier invoices or travel, a multi-currency business card is often part of the payment setup. The Payoneer card is one option, available as a physical or virtual Mastercard linked to a Payoneer account. This review covers the card’s features, fees and structure, and compares it with WorldFirst’s World Card as an alternative for South Asian businesses.
What is the Payoneer card?
The Payoneer card is a Mastercard-powered payment card issued as either a physical or virtual card.¹ It links to a Payoneer account and can be used online, in stores, at ATMs or anywhere Mastercard is accepted.¹
Each Payoneer card is linked to a single currency (USD, EUR, GBP or CAD).¹ Businesses in Pakistan and Bangladesh that need to spend in more than one currency must request a separate primary card for each of the four supported currencies, with each card carrying its own US$29.95 annual fee.²
The Payoneer card is connected to a Payoneer business account, a digital payment platform that supports both individual and business accounts. Account types and features vary by market.¹ The Payoneer account lets businesses hold funds in multiple currencies (specifics vary by market), send payments in 70+ currencies across 190+ countries, and collect from marketplaces and freelance platforms.¹
→ Take a look at the detailed Payoneer review for a full breakdown of the account’s features and fees along with the top Payoneer alternatives in South Asia
Pros and cons of the Payoneer card
| Pros | Cons |
| Available as both a physical and virtual card¹ | Each card is linked to a single currency only (USD, EUR, GBP or CAD)¹ |
| Accepted anywhere Mastercard is accepted¹ | US$29.95 annual fee per card² |
| Linked cards can be ordered for team members under the same primary card currency¹ | Eligibility requires US$100 minimum in received payments over the preceding six months¹ |
| Spend limits can be set on primary and linked cards¹ | No cashback offered |
| If the primary card is deactivated, all linked cards become permanently unavailable¹ |
Payoneer card fees: an overview
| Fee | Payoneer card123 |
| Card issuance fee | US$29.95 annual fee |
| Annual fee | US$29.95 |
| Fee for card transactions (same currency as card) | Zero |
| Fee for card transactions (different currency from card) | Currency conversion fee of 1% to 4% plus exchange rate³ |
| Account opening fee for multi-currency account linked to the card | Zero |
Fees checked in September 2026.
Note: Payoneer fees may vary by region and account type. The exact fees applicable are displayed during registration and within the Payoneer account.³
Payoneer card: Main features
Spending with the card
The Payoneer card can be used in stores, online or at ATMs, anywhere Mastercard is accepted.¹ If the transaction currency matches the currency linked to the card, no additional conversion fees apply. For instance, if a business in Pakistan or Bangladesh holds a USD Payoneer card and pays a US-based SaaS provider in USD, no foreign exchange fees apply.
If the transaction is in a different currency from the card’s linked currency, a conversion fee of 1% to 4% of the transaction amount plus the exchange rate applies.³
Getting cards for a team
For each primary card held in a specific currency, businesses can order additional linked cards in that same currency.¹ Linked cards share the same expiration date and available funds as the primary card. The balance shown on a primary card reflects the total available across all its linked cards at any given time.¹
There are important structural details to note about linked cards:
- If the primary card expires or is deactivated for any reason, all linked cards become permanently unavailable¹
- Spend limits can be set on both primary and linked cards, so funds availability does not necessarily reflect the actual amount that can be spent on any single card¹
- Linked cards can only be created in the same currency as the primary card they are associated with¹
Cashback
Payoneer does not offer cashback on card spend.
Alternative to the Payoneer card: the World Card
The World Card is a Mastercard-powered business payment card that lets businesses pay in 150+ currencies wherever Mastercard is accepted. World Account holders in Pakistan and Bangladesh can apply for up to 20 World Cards per business at no extra cost.
The World Card is linked to the World Account, a multi-currency account that lets businesses send, receive, hold and convert funds in 15+ currencies. When spending with the World Card, there are zero foreign exchange fees in 15 supported currencies, including USD, GBP, EUR, NZD, SGD and HKD, as long as sufficient balance is held in that currency. If the balance in the transaction currency is insufficient, WorldFirst converts from another held currency at competitive exchange rates.
Key features of the World Card include:
- Up to 20 virtual cards per business at no extra cost, with more available on request.
- Zero FX fees in 15 major currencies with sufficient balance.
- Fraud protection with 3D Secure (3DS) and Address Verification System (AVS).
- Full card management from the World Account dashboard, including viewing card details, setting spend limits, and freezing or cancelling cards instantly.
- Cashback available on card spend (Terms and Conditions apply).
- Downloadable card statements for reconciliation and record-keeping.
- Coming soon: Employee cards, Google Pay, Apple Pay and physical cards.
Head-to-head fee comparison
| Fee | WorldFirst | Payoneer¹ ² ³ |
| Card issuance fee | Zero | US$29.95 annual fee |
| Annual fee | Zero | US$29.95 |
| Number of cards | Up to 20 per business at no extra cost | One primary card per currency; linked cards in the same currency |
| Currencies supported per card | 150+ currencies; zero FX fees in 15 with sufficient balance | Single currency per card (USD, EUR, GBP or CAD) |
| Fee for card transactions (same currency) | Zero | Zero |
| Fee for card transactions (different currency) | Competitive exchange rates apply | 1% to 4% plus exchange rate |
| Cashback | Available (Terms and Conditions apply) | Not offered |
| Account opening fee for multi-currency account | Zero | Zero |
| Currency conversion (account level) | All currencies: 1.5%; 1688 payments: up to 0.8% | 1% to 4% plus exchange rate |
| Receiving funds (account level) | Zero | From Payoneer customers: Zero. Non-Payoneer: up to 3.99% depending on method |
Fees checked in September 2026.
FAQs
1. Is the Payoneer card available in Pakistan and Bangladesh?
Payoneer offers cards in multiple markets, though availability depends on local licensing conditions and the account holder’s country of residence or business. Businesses in Pakistan and Bangladesh should check the current eligibility rules directly on the Payoneer website before applying.¹
2. Does the Payoneer card support multiple currencies?
Each Payoneer card is linked to a single currency (USD, EUR, GBP or CAD).¹ Businesses in Pakistan and Bangladesh that need to spend in multiple currencies must request a separate primary card for each currency, with each card carrying a US$29.95 annual fee.²
Sources
- payoneer.custhelp.com/app/answers/detail/a_id/18226/~/account-with-card—faq
- payoneer.com/about/pricing/
- payoneer.com/about/pricing/
Disclaimer: 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.
