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Software · head to head

Oyster vs Payoneer

Oyster logo

Oyster

Software

Hire globally, compliantly

From
Free
Rated
-
Full reviewWebsite
Payoneer logo

Payoneer

Software

One account. Infinite opportunities.

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Only Oyster has a free tier, so it costs nothing to try first.
  • Each has a real cost: Oyster employer of Record is $699 per employee per month, with the discount tied to annual billing; 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: Oyster covers Global Employment, Payoneer covers Receive payments.

Where they differ

Only the attributes on which Oyster and Payoneer actually diverge.

Attributes where Oyster and Payoneer differ
AttributeOysterPayoneer
Starting priceFree$29/month
Pricing modelsubscriptionusage-based
Free tierYesNo
Founded20202005

Identical on both: platforms (Web, Ios, Android), user rating (Not yet rated), category (Unknown).

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 Oyster

  • Global Employment
  • Payroll
  • Benefits
  • Compliance
  • Contractor Management
  • Time Off
  • Expenses
  • BambooHR

Only in Payoneer

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

Both cover

  • Web support
  • Ios support
  • Android support

What people use each for

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

Oyster

  • Hiring employees abroad without setting up a local legal entitynot Payoneer
  • Onboarding and paying international contractorsnot Payoneer
  • Getting country specific employment compliance advice for distributed teamsnot Payoneer

Payoneer

  • Receiving marketplace and platform payouts as a freelancer or sellernot Oyster
  • Holding receiving accounts in several currenciesnot Oyster
  • Paying suppliers and withdrawing to a local bank accountnot Oyster

Where each one falls short

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

Oyster

  • Employer of Record is $699 per employee per month, with the discount tied to annual billing
  • A refundable deposit is required before an EOR engagement starts
  • Contractor management is free for 30 days then $29 per contractor per month
  • HR advisory through People Partner Services is billed at $300 per hour on top of the subscription
  • A currency conversion fee applies when you pay Oyster in a currency other than the contract currency
  • Payments are accepted only by direct debit or wire in USD, EUR, GBP or CAD

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

Oyster

Free
  • Contractor$29/month
    • Contractor Payments
    • Compliant Contracts
    • Invoicing
  • Employee$599/month
    • Global Employment
    • Payroll
    • Benefits

Payoneer

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

Which should you pick?

Choose Oyster if

  • You need global employment.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want payroll.
Oyster 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 Oyster or Payoneer better?
Neither clearly leads. Oyster starts at Free and Payoneer at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Oyster or Payoneer?
Oyster has a free tier; the other does not. Paid plans start at Free for Oyster and $29/month for Payoneer.
Does Oyster or Payoneer run on more platforms?
Both run on Web, Ios, Android, so platform support will not decide this one for you.
Can I use Oyster for free?
Yes. Oyster has a free tier, so you can try it without paying. Payoneer starts at $29/month.
What is Oyster best used for?
Oyster is most often used for hiring employees abroad without setting up a local legal entity, onboarding and paying international contractors, getting country specific employment compliance advice for distributed teams. Of those, hiring employees abroad without setting up a local legal entity and onboarding and paying international contractors are not what Payoneer is typically brought in for.
What can Oyster do that Payoneer cannot?
Oyster covers Global Employment, Payroll, Benefits, Compliance. Payoneer covers Receive payments, Multi-currency accounts, Working capital, Mass payouts. Both handle Web support, Ios support, Android support.
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