Payoneer developed this payment solution in accordance with Indian regulatory requirements, and it enables US and European companies to connect into the expansive market of Indian talent. Payoneer enables professionals and business owners in India to receive overseas payments in multiple ways, including real-time payments from the world’s freelance marketplaces including Freelancer.com, PeoplePerHour and 99Designs.
In addition, they can invoice customers in the US and Europe using Payoneer’s US/EU Payment Services to receive payments from other clients via ACH transfers in the US or EUR transfers in the EU. On receipt, the funds are automatically transferred to the user’s personal or company bank account in INR, and can be delivered to any bank account in India.
According to the Payoneer Freelancer Income Survey 2015, Indian freelancers make an average of USD 19 per hour, which is significantly higher than the average wages for most professions in the country.
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