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Accounting · head to head

Payoneer vs Trustly

Payoneer logo

Payoneer

Accounting

One account. Infinite opportunities.

From
$29/month
Rated
-
Full reviewWebsite
Trustly logo

Trustly

APIs

Pay-by-bank payments network, majority-owned by private equity firm Nordic Capital

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Payoneer an annual account fee of $29.95 USD applies if the account receives less than $6,000 USD in any 12 consecutive months; Trustly it is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • They diverge on capability: Payoneer covers Receive payments, Trustly covers Pay by bank checkout.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Payoneer and Trustly actually diverge.

Attributes where Payoneer and Trustly differ
AttributePayoneerTrustly
Starting price$29/monthOn request
Pricing modelusage-basedquote
PlatformsWeb, Ios, AndroidWeb, API
CategoryAccountingAPIs
Founded2005Unknown

Identical on both: free tier (No), user rating (Not yet rated).

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 Payoneer

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

Only in Trustly

  • Pay by bank checkout
  • Instant refunds
  • Verified payouts
  • Multi-market bank connectivity
  • Merchant dashboard and reconciliation
  • Fraud and risk tooling

What people use each for

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

Payoneer

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

Trustly

  • An e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptancenot Payoneer
  • A gaming or gambling operator needing verified, instant payouts to players' bank accountsnot Payoneer
  • A merchant wanting instant refunds processed directly to a customer's bank account rather than card reversal delaysnot Payoneer
  • A business in a market with strong open banking adoption wanting pay-by-bank as a checkout optionnot Payoneer

Where each one falls short

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

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%

Trustly

  • It is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • Consumer familiarity with paying by bank transfer still lags card payments in most markets, so merchants typically see it used as a secondary option rather than a full card replacement.
  • The 1.15 to 3.15% merchant fee range is not a single published rate, so a merchant cannot know its actual cost without a sales negotiation.
  • As with all open banking-dependent payment methods, reliability depends on the consistency of the underlying banks' own APIs, which Trustly does not control.
  • Its verified payout functionality is heavily used in gaming and gambling, a sector with additional regulatory scrutiny, which is worth factoring in when evaluating vendor risk exposure by association.

Pricing, plan by plan

Payoneer

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

Trustly

On request
  • Trustly$undefined/month
    • Typical merchant cost of 1.15% to 3.15% depending on volume and market
    • Exact rate negotiated per merchant, not published as a flat card

Which should you pick?

Choose Payoneer if

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

Choose Trustly if

  • You need pay by bank checkout.
  • You work on Web, API.
  • You also want instant refunds.
Trustly review

Questions people ask

Is Payoneer or Trustly better?
Neither clearly leads. Payoneer starts at $29/month and Trustly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Payoneer or Trustly?
Payoneer starts at $29/month and Trustly at On request.
Does Payoneer or Trustly run on more platforms?
Payoneer runs on Web, Ios, Android. Trustly runs on Web, API.
What is Payoneer best used for?
Payoneer is most often used for freelancer payment collection from upwork, fiverr, and global marketplaces, multi-currency account management with 70+ currencies supported, international wire transfers to 190+ countries and territories, business contractor payments and global workforce management. Of those, freelancer payment collection from upwork, fiverr, and global marketplaces and multi-currency account management with 70+ currencies supported are not what Trustly is typically brought in for.
What can Payoneer do that Trustly cannot?
Payoneer covers Receive payments, Multi-currency accounts, Working capital, Mass payouts. Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity.

Answered from the vendors’ own pages

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
Trustly: Who owns Trustly?

Nordic Capital, a private equity firm, holds a 51.1% majority stake; Alfven & Didrikson and BlackRock hold smaller stakes.

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
Trustly: Is Trustly going public?

It has discussed an IPO but as of its most recent comments said one remained at least a year away.

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
Trustly: What does it typically cost a merchant?

Roughly 1.15% to 3.15% of transaction value depending on volume and market, negotiated per merchant.

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