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Payoneer vs Razorpay
Only Razorpay · 3
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For a business registered in
Onboards businesses in United States
Payoneer
AvailableRazorpay
AvailableAccept payments
Payoneer
Get paid by clients and marketplaces such as Amazon, Upwork and Fiverr, or accept cards through payment requests.Razorpay
Payment gateway, payment links, payment pages, subscriptions, QR codes and POS. In India it supports cards, netbanking, UPI, wallets, EMI and Pay Later; Malaysia (Curlec) adds FPX, DuitNow and others; Singapore and US offer cards, wallets, PayNow (SG) and ACH (US). Non-Indian businesses can also collect from Indian customers.Pay people abroad
Payoneer
Mass payouts to freelancers and suppliers in 190+ countries.Razorpay
RazorpayX payouts to contacts in India via IMPS, RTGS, NEFT or UPI from a RazorpayX current account; also vendor and salary payouts. Razorpay Curlec in Malaysia also lists payouts. Cross-border payouts are not documented as a general product.Not for businesses in United States.Multi-currency account
Payoneer
Receiving accounts in USD, EUR, GBP and other major currencies.Razorpay
RazorpayX current accounts for Indian businesses, provided by partner banks (ICICI, RBL, Yes Bank); RazorpayX is not a bank.Not for businesses in United States.Business cards
Payoneer
Payoneer Mastercard for business spending.Razorpay
RazorpayX Corporate Card (Visa corporate credit card issued by RBI-licensed partner banks) for Indian businesses.Not for businesses in United States.Stablecoins
Payoneer
Not offeredAnnounced, not yet live: Receive, hold and send stablecoinsAnnounced, not yet live: PAYO Digital Bank and a PAYO-USD stablecoinRazorpay
Not offeredYield on idle cash
Payoneer
Not offeredRazorpay
Not offeredYield on idle cash
A return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is.
Where the return comes from
Payoneer
No yield offeredRazorpay
No yield offeredIs the money protected?
Payoneer
–Razorpay
–Does the rate change?
Payoneer
–Razorpay
–Fees
Published prices only, with the date we read them. Many providers negotiate prices instead.
How pricing works
Payoneer
Payoneer publishes standard fees (last updated 1 January 2026) and offers custom pricing above 50K USD per month. Receiving from another Payoneer balance or via a local-currency receiving account is free; receiving in a non-local currency costs 1% (min 1 USD); card payments from payers cost up to 3.99% + 0.49 USD. Fees vary by location, method and currency.Razorpay
Not yet researchedPublished prices
Payoneer
Receive from another Payoneer customer (standard (most regions)): FreeReceive via receiving account (standard (most regions)): Free in your local currency; 1% (minimum 1.00 USD) in a non-local currencyPayer pays by card or PayPal; marketplace receipts (standard (most regions)): Up to 3.99% + 0.49 USD when the payer uses a credit card, or PayPal (US only). Fees from marketplaces and integrated platforms vary by marketplace.Payer pays by ACH debit (US) or EU/UK bank (standard): 1%Custom pricing (all): Custom packages for businesses processing over 50K USD per monthRazorpay
–What you can sell
From each provider’s acceptable use policy. “Restricted” means allowed only with approval or conditions, or banned for part of the category.
Software and digital goods
Payoneer
Not statedRazorpay
Not yet researchedCrypto
Payoneer
Not allowedVirtual and cryptocurrencies, NFTs, crypto mining and supporting services are on the list (pre-approval possible at Payoneer's discretion). Note: Payoneer separately markets stablecoin receiving and sending features.Razorpay
Not yet researchedLending and financial services
Payoneer
Not allowedA broad Financial Services group is on the list: brokerage, insurance, debt collection, payment processing, MSBs and currency exchange, loans, binary options, venture capital and investments.Razorpay
Not yet researchedGambling
Payoneer
Not allowedGames of chance, internet gambling, lotteries, sweepstakes and sports forecasting are on the list.Razorpay
Not yet researchedAdult content
Payoneer
Not allowedAdult services and pornographic or mature content are on the list.Razorpay
Not yet researchedDating
Payoneer
Not allowedDating services are listed under Adult Services.Razorpay
Not yet researchedFirearms and weapons
Payoneer
Not allowedGuns, ammunition, weapons and explosives, and defence/arms businesses, are on the list.Razorpay
Not yet researchedCannabis and CBD
Payoneer
Not allowedMarijuana, cannabis products and CBD are on the list.Razorpay
Not yet researchedSupplements
Payoneer
Not allowedSupplements, vitamins, nutritional products, nutraceuticals and diet pills are on the list.Razorpay
Not yet researchedPharmacy and telemedicine
Payoneer
Not allowedPrescription-only products, pharmacies and pharmaceuticals are on the list (heading includes telemedicine).Razorpay
Not yet researchedTravel
Payoneer
Not statedRazorpay
Not yet researchedMulti-level marketing
Payoneer
Not statedRazorpay
Not yet researchedFree-trial subscriptions
Payoneer
Not statedRazorpay
Not yet researchedPlatform & marketplace
Run payments for other businesses: sign them up, take a cut, pay them out.
Sub-accounts for your users
Payoneer
PartlyPayees register their own Payoneer accounts, which your platform pays into.Razorpay
YesPartners can onboard sub-merchants through APIs, with sub-merchants completing KYC on the partner's platform.Split payments and platform fees
Payoneer
NoNot a payment-splitting processor.Razorpay
YesRoute splits incoming payments among linked accounts. Since RBI's September 2025 rules, Route requires minimum turnover (over INR 40 lakh domestic or INR 5 lakh export) and a payer-payee transparency declaration.Embeddable UI
Payoneer
PartlyHosted payee registration.Razorpay
YesMerchant Onboarding UI: pre-built, brand-configurable components for onboarding sub-merchants (on request); Embedded Payments for platforms.Pay out to your users
Payoneer
YesMass payout API, up to 500 payouts per call, to registered payees in 190+ countries.Razorpay
YesRazorpayX payouts to bank accounts and UPI IDs in India (IMPS/RTGS/NEFT/UPI). Domestic Indian payouts only in the docs checked.Embedded finance for your users
Give your users financial products under your brand.
Accounts that hold money
Payoneer
PartlyPayees get Payoneer receiving accounts, owned by Payoneer rather than your platform.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). RazorpayX current accounts are for the merchant itself, not for its users.Cards for your users
Payoneer
NoPayoneer’s card is its own product.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). The RazorpayX Corporate Card is for the merchant's own spending.Financing for your users
Payoneer
NoPayoneer’s advances are its own product.Razorpay
PartlyRazorpay Capital runs an invite-only partner programme in which B2B businesses can refer their customers to Razorpay's Line of Credit. This is a referral, not an embedded lending API.Consumer apps
Build for individuals, not just businesses, the way Bridge allows.
End users can be individuals
Payoneer
PartlyPayees can be individual freelancers, but the accounts belong to Payoneer.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Consumer wallets or accounts
Payoneer
NoNot for your platform’s users.Razorpay
NoRazorpay's White Label Wallet (closed wallets for your customers) was discontinued in April 2023 and takes no new users.Consumer cards
Payoneer
NoNot for your platform’s users.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Stablecoins
Dollar-backed tokens as a payment and treasury rail.
Accept stablecoins
Razorpay
Not confirmedNot found in public materials (provider's own pages checked). Razorpay's India terms bar merchants from crypto activity.Hold stablecoin balances
Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Pay out in stablecoins
Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Issue your own stablecoin
Payoneer
NoNo stablecoin product found in public materials.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Regulatory risk in United States
Payoneer
No stablecoin productsRazorpay
No stablecoin productsAI agents
Build with AI tools, and let AI agents shop and pay.
Official MCP server
Payoneer
Not confirmedNone found.Razorpay
YesOfficial Razorpay MCP Server, hosted (remote) or self-hosted via Docker, with 35+ tools covering payments, orders, links, refunds, settlements and payouts.Checkout for AI agents
Payoneer
NoNot found in public materials.Razorpay
PartlyRazorpay Agentic Payments: in-app agentic checkout (live in beta), voice payments and in-chat purchases on LLM platforms.Cards for AI agents
Payoneer
Not confirmedNot found in public materials.Razorpay
PartlyUPI Reserve Pay (live) lets AI agents pay within pre-approved spending limits. It is a UPI mandate, not a card.Working with them
How easy it is to get started.
Self-serve signup
Payoneer
YesSign up online.Razorpay
Not confirmedNot researched yet.Published pricing
Payoneer
YesFees are published.Razorpay
Not confirmedNot researched yet.Public API and sandbox
Payoneer
PartlyPartner API with approval.Razorpay
Not confirmedNot researched yet.Coming soon
Announced but not launched. These are plans, not products you can sign up for today: timing often slips, and some never ship.
Announced, not yet live
Payoneer
Razorpay
Nothing announcedIn short
Countries onboarded
Payoneer
162 of 170Razorpay
4 of 170Designed for
Payoneer
Businesses in Pakistan, Nigeria, Bangladesh, Egypt and similar markets earning from foreign clients.Razorpay
Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity.Limitations
Payoneer
Charges fees on currency conversion and withdrawals, listed on its pricing page.Razorpay
Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only.| Payoneer Global account | Razorpay Regional processor | |
|---|---|---|
| Onboards businesses in United States | Available | Available |
| Accept payments | Get paid by clients and marketplaces such as Amazon, Upwork and Fiverr, or accept cards through payment requests. | Payment gateway, payment links, payment pages, subscriptions, QR codes and POS. In India it supports cards, netbanking, UPI, wallets, EMI and Pay Later; Malaysia (Curlec) adds FPX, DuitNow and others; Singapore and US offer cards, wallets, PayNow (SG) and ACH (US). Non-Indian businesses can also collect from Indian customers. |
| Pay people abroad | Mass payouts to freelancers and suppliers in 190+ countries. | RazorpayX payouts to contacts in India via IMPS, RTGS, NEFT or UPI from a RazorpayX current account; also vendor and salary payouts. Razorpay Curlec in Malaysia also lists payouts. Cross-border payouts are not documented as a general product.Not for businesses in United States. |
| Multi-currency account | Receiving accounts in USD, EUR, GBP and other major currencies. | RazorpayX current accounts for Indian businesses, provided by partner banks (ICICI, RBL, Yes Bank); RazorpayX is not a bank.Not for businesses in United States. |
| Business cards | Payoneer Mastercard for business spending. | RazorpayX Corporate Card (Visa corporate credit card issued by RBI-licensed partner banks) for Indian businesses.Not for businesses in United States. |
| Stablecoins | Not offeredAnnounced, not yet live: Receive, hold and send stablecoinsAnnounced, not yet live: PAYO Digital Bank and a PAYO-USD stablecoin | Not offered |
| Yield on idle cash | Not offered | Not offered |
| Yield on idle cashA return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is. | ||
| Where the return comes from | No yield offered | No yield offered |
| Is the money protected? | – | – |
| Does the rate change? | – | – |
| FeesPublished prices only, with the date we read them. Many providers negotiate prices instead. | ||
| How pricing works | Payoneer publishes standard fees (last updated 1 January 2026) and offers custom pricing above 50K USD per month. Receiving from another Payoneer balance or via a local-currency receiving account is free; receiving in a non-local currency costs 1% (min 1 USD); card payments from payers cost up to 3.99% + 0.49 USD. Fees vary by location, method and currency. | Not yet researched |
| Published prices | Receive from another Payoneer customer (standard (most regions)): FreeReceive via receiving account (standard (most regions)): Free in your local currency; 1% (minimum 1.00 USD) in a non-local currencyPayer pays by card or PayPal; marketplace receipts (standard (most regions)): Up to 3.99% + 0.49 USD when the payer uses a credit card, or PayPal (US only). Fees from marketplaces and integrated platforms vary by marketplace.Payer pays by ACH debit (US) or EU/UK bank (standard): 1%Custom pricing (all): Custom packages for businesses processing over 50K USD per month | – |
| What you can sellFrom each provider’s acceptable use policy. “Restricted” means allowed only with approval or conditions, or banned for part of the category. | ||
| Software and digital goods | Not stated | Not yet researched |
| Crypto | Not allowedVirtual and cryptocurrencies, NFTs, crypto mining and supporting services are on the list (pre-approval possible at Payoneer's discretion). Note: Payoneer separately markets stablecoin receiving and sending features. | Not yet researched |
| Lending and financial services | Not allowedA broad Financial Services group is on the list: brokerage, insurance, debt collection, payment processing, MSBs and currency exchange, loans, binary options, venture capital and investments. | Not yet researched |
| Gambling | Not allowedGames of chance, internet gambling, lotteries, sweepstakes and sports forecasting are on the list. | Not yet researched |
| Adult content | Not allowedAdult services and pornographic or mature content are on the list. | Not yet researched |
| Dating | Not allowedDating services are listed under Adult Services. | Not yet researched |
| Firearms and weapons | Not allowedGuns, ammunition, weapons and explosives, and defence/arms businesses, are on the list. | Not yet researched |
| Cannabis and CBD | Not allowedMarijuana, cannabis products and CBD are on the list. | Not yet researched |
| Supplements | Not allowedSupplements, vitamins, nutritional products, nutraceuticals and diet pills are on the list. | Not yet researched |
| Pharmacy and telemedicine | Not allowedPrescription-only products, pharmacies and pharmaceuticals are on the list (heading includes telemedicine). | Not yet researched |
| Travel | Not stated | Not yet researched |
| Multi-level marketing | Not stated | Not yet researched |
| Free-trial subscriptions | Not stated | Not yet researched |
| Platform & marketplaceRun payments for other businesses: sign them up, take a cut, pay them out. | ||
| Sub-accounts for your users | PartlyPayees register their own Payoneer accounts, which your platform pays into. | YesPartners can onboard sub-merchants through APIs, with sub-merchants completing KYC on the partner's platform. |
| Split payments and platform fees | NoNot a payment-splitting processor. | YesRoute splits incoming payments among linked accounts. Since RBI's September 2025 rules, Route requires minimum turnover (over INR 40 lakh domestic or INR 5 lakh export) and a payer-payee transparency declaration. |
| Embeddable UI | PartlyHosted payee registration. | YesMerchant Onboarding UI: pre-built, brand-configurable components for onboarding sub-merchants (on request); Embedded Payments for platforms. |
| Pay out to your users | YesMass payout API, up to 500 payouts per call, to registered payees in 190+ countries. | YesRazorpayX payouts to bank accounts and UPI IDs in India (IMPS/RTGS/NEFT/UPI). Domestic Indian payouts only in the docs checked. |
| Embedded finance for your usersGive your users financial products under your brand. | ||
| Accounts that hold money | PartlyPayees get Payoneer receiving accounts, owned by Payoneer rather than your platform. | Not confirmedNot found in public materials (provider's own pages checked). RazorpayX current accounts are for the merchant itself, not for its users. |
| Cards for your users | NoPayoneer’s card is its own product. | Not confirmedNot found in public materials (provider's own pages checked). The RazorpayX Corporate Card is for the merchant's own spending. |
| Financing for your users | NoPayoneer’s advances are its own product. | PartlyRazorpay Capital runs an invite-only partner programme in which B2B businesses can refer their customers to Razorpay's Line of Credit. This is a referral, not an embedded lending API. |
| Consumer appsBuild for individuals, not just businesses, the way Bridge allows. | ||
| End users can be individuals | PartlyPayees can be individual freelancers, but the accounts belong to Payoneer. | Not confirmedNot found in public materials (provider's own pages checked). |
| Consumer wallets or accounts | NoNot for your platform’s users. | NoRazorpay's White Label Wallet (closed wallets for your customers) was discontinued in April 2023 and takes no new users. |
| Consumer cards | NoNot for your platform’s users. | Not confirmedNot found in public materials (provider's own pages checked). |
| StablecoinsDollar-backed tokens as a payment and treasury rail. | ||
| Accept stablecoins | Not confirmedNot confirmed.Announced, not yet live: Receive, hold and send stablecoins | Not confirmedNot found in public materials (provider's own pages checked). Razorpay's India terms bar merchants from crypto activity. |
| Hold stablecoin balances | Not confirmedNot confirmed.Announced, not yet live: Receive, hold and send stablecoins | Not confirmedNot found in public materials (provider's own pages checked). |
| Pay out in stablecoins | Not confirmedNot confirmed.Announced, not yet live: Receive, hold and send stablecoins | Not confirmedNot found in public materials (provider's own pages checked). |
| Issue your own stablecoin | NoNo stablecoin product found in public materials. | Not confirmedNot found in public materials (provider's own pages checked). |
| Regulatory risk in United States | No stablecoin products | No stablecoin products |
| AI agentsBuild with AI tools, and let AI agents shop and pay. | ||
| Official MCP server | Not confirmedNone found. | YesOfficial Razorpay MCP Server, hosted (remote) or self-hosted via Docker, with 35+ tools covering payments, orders, links, refunds, settlements and payouts. |
| Checkout for AI agents | NoNot found in public materials. | PartlyRazorpay Agentic Payments: in-app agentic checkout (live in beta), voice payments and in-chat purchases on LLM platforms. |
| Cards for AI agents | Not confirmedNot found in public materials. | PartlyUPI Reserve Pay (live) lets AI agents pay within pre-approved spending limits. It is a UPI mandate, not a card. |
| Working with themHow easy it is to get started. | ||
| Self-serve signup | YesSign up online. | Not confirmedNot researched yet. |
| Published pricing | YesFees are published. | Not confirmedNot researched yet. |
| Public API and sandbox | PartlyPartner API with approval. | Not confirmedNot researched yet. |
| Coming soonAnnounced but not launched. These are plans, not products you can sign up for today: timing often slips, and some never ship. | ||
| Announced, not yet live | Awaiting approvalPAYO Digital Bank and a PAYO-USD stablecoinNo date given · Includes United States Preview or betaReceive, hold and send stablecoinsExpected by the end of 2026 Awaiting approvalCross-border payment aggregator licence in IndiaNo date given Details and sources → | Nothing announced |
| In short | ||
| Countries onboarded | 162 of 170 | 4 of 170 |
| Designed for | Businesses in Pakistan, Nigeria, Bangladesh, Egypt and similar markets earning from foreign clients. | Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity. |
| Limitations | Charges fees on currency conversion and withdrawals, listed on its pricing page. | Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only. |
Common questions
Is Payoneer or Razorpay available in more countries?
Razorpay. Of the 170 countries we track, Payoneer onboards businesses in 162 and Razorpay in 4 (and 161 more with limits). Both serve businesses in 162. Only Razorpay: Syria, Sudan and Afghanistan.
What do Payoneer and Razorpay offer?
Accept payments: Payoneer yes, Razorpay yes. Pay people abroad: Payoneer yes, Razorpay yes. Multi-currency account: Payoneer yes, Razorpay yes. Business cards: Payoneer yes, Razorpay yes. Stablecoins: Payoneer no, Razorpay no. Yield on idle cash: Payoneer no, Razorpay no.
How do Payoneer and Razorpay differ for platforms and embedded finance?
Sub-accounts for your users: Payoneer partly, Razorpay yes. Split payments and platform fees: Payoneer no, Razorpay yes. Embeddable UI: Payoneer partly, Razorpay yes. Accounts that hold money: Payoneer partly, Razorpay not confirmed. Cards for your users: Payoneer no, Razorpay not confirmed. Financing for your users: Payoneer no, Razorpay partly. End users can be individuals: Payoneer partly, Razorpay not confirmed. Consumer cards: Payoneer no, Razorpay not confirmed. Issue your own stablecoin: Payoneer no, Razorpay not confirmed. Official MCP server: Payoneer not confirmed, Razorpay yes. Checkout for AI agents: Payoneer no, Razorpay partly. Cards for AI agents: Payoneer not confirmed, Razorpay partly.
Who is Payoneer designed for?
Businesses in Pakistan, Nigeria, Bangladesh, Egypt and similar markets earning from foreign clients. Limitations: Charges fees on currency conversion and withdrawals, listed on its pricing page.
Who is Razorpay designed for?
Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity. Limitations: Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only.
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