Not too long ago, I came across a post on Forbes which listed “10 easy, effective payment solutions for freelancers”. It was a nice read and talked about payment solutions I’m very familiar with as well as others like Authorize.net and 2Checkout I never knew about. It is great learning new things as it widens your horizon, opening you up to wider opportunities.
Going through the list, I was curious to see if mention would be made of Payoneer which is not only one of the most flexible options worldwide but in fact the only easily accessible option in some countries; little wonder the company is enjoying massive adoption by major freelance platforms such as Freelancer, Fiverr, Upwork, 99designs and shutterstock among others.
Back to the post, Yes! Payoneer was on the list, however not at a position I expected it to be (it was the 9th on the list of 10). Giving this unexpected position some thought, I figured out that for freelancers outside Nigeria (USA, UK, India etc), other means of payment such as direct bank deposit, PayPal especially PayPal would be the more preferred means of receiving payments. This is because these options are not only available but pretty much straight forward and you have access to your funds soon enough.
In Nigeria however, these options are not available, for instance you can only spend money via PayPal but can’t receive money through it while direct bank deposits are not even available to start with. This leaves Nigerians selling on these major platforms with Payoneer and fair enough, from its available features, those using it don’t have much else to desire as the company has tried to meet the requirements of a reliable payment service (timely access to funds, ease of spending received funds, security of funds, etc).
With these features all in place, Payoneer serves not only as an available payment option but a very suitable one to Nigerians freelancing on global platforms. In a subsequent post, I’ll go into more details on these distinguishing features.
Thanks for reading, don’t forget to check out our post on Freelancing in Nigeria as well as our guide to outsourcing jobs to freelancers.
Also, don’t forget to follow us on social media for updates on our soon to come series on blockchain, cryptocurrencies and how to trade them for profit.
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