Payoneer, a famous online money transfer platform, has increased its transaction fees for sending or receiving payments in Pakistan. This fee hike could greatly affect local freelancers who depend on Payoneer for their payments.

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The new transaction fee is now 3% of the total amount, plus an extra $0.49 for all transactions in USD, up from the previous 2%. For transactions in other currencies, the fixed fee will be 0.39 GBP, 0.45 EUR, 0.75 AUD, 0.67 CAD, and 73.76 JPY.

This Payoneer Fee increase applies to payments made with debit or credit cards, as well as those received via the Request a Payment option or the Initiate an online payment fees section using a debit or credit card.

The new Payoneer Fees Increase structure will be effective October 20, 2024. After this date, you’ll see the updated fees on the Fee page under your account settings. Existing Payoneer Pakistan fees that apply in addition to the new ones will remain the same.

Payoneer’s support page describes the fee increase by saying:

“To continue providing you with the best service, we occasionally review our fees based on market changes. While these adjustments are essential, our focus on supporting your business growth remains our top priority.”

For more news and updates, visit the Al Sadat Marketing Website.