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Software · head to head

Payoneer vs Workday

Payoneer logo

Payoneer

Software

One account. Infinite opportunities.

From
$29/month
Rated
-
Full reviewWebsite
Workday logo

Workday

Software

Enterprise cloud applications for finance and HR

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; Workday high implementation costs equal to or exceeding annual software fees
  • They diverge on capability: Payoneer covers Receive payments, Workday covers Human capital management.

Where they differ

Only the attributes on which Payoneer and Workday actually diverge.

Attributes where Payoneer and Workday differ
AttributePayoneerWorkday
Starting price$29/monthOn request
Pricing modelusage-basedquote
PlatformsWeb, Ios, AndroidCloud/Web

Identical on both: free tier (No), user rating (Not yet rated), category (Unknown), founded (2005).

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 Workday

  • Human capital management
  • Financial management
  • Planning
  • Analytics
  • Payroll
  • Time tracking
  • Talent management
  • Procurement

What people use each for

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

Payoneer

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

Workday

  • HR managementnot Payoneer
  • Financial planningnot Payoneer
  • Workforce planningnot Payoneer
  • Compliancenot Payoneer
  • Analyticsnot 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%

Workday

  • High implementation costs equal to or exceeding annual software fees
  • Long deployment timelines (12-18 months standard) before ROI
  • Steep per-employee pricing at enterprise scale ($408-504 PEPM)
  • Limited pre-built templates and customization; often requires extensive configuration
  • Requires significant IT and change management resources during implementation

Pricing, plan by plan

Payoneer

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

Workday

On request
  • Small Business$undefined/month
    • Core HR
    • Payroll
    • Time tracking
  • Medium Enterprise$undefined/month
    • Full HCM suite
    • Financial management
    • Advanced analytics
  • Large Enterprise$undefined/month
    • Complete platform
    • Custom configurations
    • Dedicated support

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 Workday if

  • You need human capital management.
  • You work on Cloud/Web.
  • You also want financial management.
Workday review

Questions people ask

Is Payoneer or Workday better?
Neither clearly leads. Payoneer starts at $29/month and Workday at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Payoneer or Workday?
Payoneer starts at $29/month and Workday at On request.
Does Payoneer or Workday run on more platforms?
Payoneer runs on Web, Ios, Android. Workday runs on Cloud/Web.
What is Payoneer best used for?
Payoneer is most often used for receiving marketplace and platform payouts as a freelancer or seller, holding receiving accounts in several currencies, paying suppliers and withdrawing to a local bank account. Of those, receiving marketplace and platform payouts as a freelancer or seller and holding receiving accounts in several currencies are not what Workday is typically brought in for.
What can Payoneer do that Workday cannot?
Payoneer covers Receive payments, Multi-currency accounts, Working capital, Mass payouts. Workday covers Human capital management, Financial management, Planning, Analytics.

Answered from the vendors’ own pages

Workday: What is Workday GO and what market is it designed for?

Workday GO is a product designed for small and midsize organizations, bringing together HR and finance solutions with transparent pricing and fast activation in 30 to 60 days. It includes HCM, benefits, payroll, talent, and more at a lower price point than standard Workday.

Source
Workday: What is Workday Skills Cloud and how does it fit into HCM?

Workday Skills Cloud is an intelligent skills foundation built into Workday HCM. It is described as the world's most open intelligent skills foundation and fuels data-driven talent strategies across recruiting, learning, and workforce planning.

Source
Workday: Does Workday include payroll and benefits management?

Yes. Workday HCM includes benefits administration and payroll capabilities as part of its core suite. Global payroll processing is available across multiple countries and tax jurisdictions.

Source
Workday: What is the typical pricing model for Workday HCM?

Workday HCM uses per-employee (PEPM) annual subscription pricing. Companies at scale typically pay $34-42 PEPM. Enterprise organizations with 5,000+ employees typically pay $408-504 per employee annually. Pricing decreases with larger commitments and longer contract terms.

Source
Workday: How long does Workday implementation typically take?

Standard implementations are lengthy, often taking 12-18 months. Workday GO promises faster activation in 30-60 days. Implementation costs typically equal 100-150% of the first year's software subscription fees.

Source
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Related pages

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