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Accounting · head to head

Basware vs Payoneer

Basware logo

Basware

Accounting

Invoice automation and e-invoicing compliance across a large number of national mandates

From
On request
Rated
-
Full reviewWebsite
Payoneer logo

Payoneer

Accounting

One account. Infinite opportunities.

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Basware the e-invoicing compliance breadth that justifies the price is worthless to a company operating in a single country, where cheaper AP automation tools will do the same work.; Payoneer an annual account fee of $29.95 USD applies if the account receives less than $6,000 USD in any 12 consecutive months
  • They diverge on capability: Basware covers Invoice capture, Payoneer covers Receive payments.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Basware and Payoneer actually diverge.

Attributes where Basware and Payoneer differ
AttributeBaswarePayoneer
Starting priceOn request$29/month
Pricing modelquoteusage-based
FoundedUnknown2005

Identical on both: free tier (No), platforms (Web, iOS, Android), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Basware

  • Invoice capture
  • Matching
  • Approval workflow
  • E-invoicing compliance
  • Supplier network
  • Payment execution
  • Spend analytics
  • ERP integration

Only in Payoneer

  • Receive payments
  • Multi-currency accounts
  • Working capital
  • Mass payouts
  • Marketplace integrations
  • Amazon
  • Fiverr
  • Upwork

What people use each for

The jobs each tool is most often brought in to do.

Basware

  • A multinational needing compliant electronic invoicing across Italy, Poland, France and Mexico without building each mandate itselfnot Payoneer
  • A shared service centre processing hundreds of thousands of invoices a year that needs touchless processing rates measured and improvednot Payoneer
  • A group standardising accounts payable across subsidiaries running different ERP systemsnot Payoneer
  • A finance function trying to capture early payment discounts that are currently lost to slow approval cyclesnot Payoneer

Payoneer

  • Freelancer payment collection from Upwork, Fiverr, and global marketplacesnot Basware
  • Multi-currency account management with 70+ currencies supportednot Basware
  • International wire transfers to 190+ countries and territoriesnot Basware
  • Business contractor payments and global workforce managementnot Basware
  • Marketplace mass payouts for seller platforms and gig economynot Basware

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Basware

  • The e-invoicing compliance breadth that justifies the price is worthless to a company operating in a single country, where cheaper AP automation tools will do the same work.
  • Implementation is a substantial integration project involving ERP connectors, supplier onboarding and country-by-country compliance configuration, and it is priced and timed accordingly.
  • The user interface is dated next to newer accounts payable products, and approvers outside finance find it unintuitive, which slows the very cycle times the system is bought to improve.
  • Supplier onboarding onto the network is the hidden effort: the touchless processing rate depends on how many suppliers actually send electronic invoices, and that is a change management programme, not a software setting.
  • Growth by acquisition, including Glantus, has left overlapping analytics capability and integration work still in progress, so buyers should check which components share a data model today.

Payoneer

  • An annual account fee of $29.95 USD applies if the account receives less than $6,000 USD in any 12 consecutive months
  • The Payoneer card carries a $29.95 USD annual fee and $12.95 USD for a replacement
  • Converting between Payoneer balances in different currencies costs 0.50%
  • Receiving into a non local currency receiving account costs 1%, minimum $1.00 USD
  • Receiving by credit card costs up to 3.99% plus $0.49 USD
  • Withdrawing to a bank in the recipient's local currency costs 1.2% to 4%
  • ATM withdrawals cost $3.15 USD plus up to 1.8%, rising to 3.5% when currency is converted
  • Card purchases requiring conversion cost up to 3.5%

Pricing, plan by plan

Basware

On request
  • Basware$undefined/year
    • Invoice automation, matching and approval
    • E-invoicing compliance across national mandates
    • Supplier network connectivity

Payoneer

$29/month
  • StandardFree
    • Receive payments
    • Multi-currency
    • Marketplace connections

Which should you pick?

Choose Basware if

  • You need invoice capture.
  • You work on Web, iOS, Android.
  • You also want matching.
Basware review

Choose Payoneer if

  • You need receive payments.
  • You work on Web, Ios, Android.
  • You also want multi-currency accounts.
Payoneer review

Questions people ask

Is Basware or Payoneer better?
Neither clearly leads. Basware starts at On request and Payoneer at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Basware or Payoneer?
Basware starts at On request and Payoneer at $29/month.
Does Basware or Payoneer run on more platforms?
Basware runs on Web, iOS, Android. Payoneer runs on Web, Ios, Android.
What is Basware best used for?
Basware is most often used for a multinational needing compliant electronic invoicing across italy, poland, france and mexico without building each mandate itself, a shared service centre processing hundreds of thousands of invoices a year that needs touchless processing rates measured and improved, a group standardising accounts payable across subsidiaries running different erp systems, a finance function trying to capture early payment discounts that are currently lost to slow approval cycles. Of those, a multinational needing compliant electronic invoicing across italy, poland, france and mexico without building each mandate itself and a shared service centre processing hundreds of thousands of invoices a year that needs touchless processing rates measured and improved are not what Payoneer is typically brought in for.
What can Basware do that Payoneer cannot?
Basware covers Invoice capture, Matching, Approval workflow, E-invoicing compliance. Payoneer covers Receive payments, Multi-currency accounts, Working capital, Mass payouts.

Answered from the vendors’ own pages

Basware: Should we buy Basware if we only operate in one country?

Probably not. Its main advantage is multi-country e-invoicing compliance. In a single jurisdiction, cheaper AP automation gives you the same result.

Payoneer: What are Payoneer's withdrawal fees?

Payoneer states its mission is to simplify international payments, but specific withdrawal fees are not published on the homepage. Fee details are accessed via the pricing section.

Source
Basware: Does it handle mandatory e-invoicing regimes?

Yes, and that is the core reason to choose it. It covers a wide set of national mandates as a service rather than an integration project you run yourself.

Payoneer: How much does Payoneer charge for currency conversion?

Payoneer manages multi-currency transactions but does not display conversion rates or fee percentages on the main website.

Source
Basware: What drives the price?

Invoice volume, number of countries and modules. It is quoted, and implementation with ERP connectors and supplier onboarding is separate.

Payoneer: Is there a monthly fee to keep a Payoneer account?

Payoneer does not list account maintenance fees on its homepage. Specific pricing for account types (freelancer, business, marketplace) requires accessing the pricing page.

Source
Basware: What determines the return?

The share of invoices arriving electronically. Touchless rates depend on supplier adoption, so budget for a supplier onboarding programme, not just the software.

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