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Payoneer is a popular digital payment platform that allows people and businesses to accept payments from overseas customers and marketplaces. If you’re a freelancer, entrepreneur, or business owner in Pakistan, opening a Payoneer account will help you extend your global reach and receive payments more efficiently. In this article, I will try to guide you through the steps of opening and activating an account in Pakistan.
Sign Up
Go to Payoneer website and click the “Sign Up” option in the upper right corner.
Enter your email address, password and business information (your name, address and phone number).
Verify Your Email
Payoneer will send a verification email to the email address which you entered.
Open your email and click the verification link to activate your account.
Provide identification Documents
To comply with anti-money laundering and know-your-customer rules, Payoneer asks Pakistani users to provide identification documents.
Upload a clearly scanned copy or photo of:
- Your valid CNIC (Computerised National Identity Card).
- Your valid Passport.
- A utility bill or bank statement as evidence of address.
Add Banking Detail
To receive payments, you must link a bank account to your Payoneer account.
Enter your bank account information, including:
- Bank name and address.
- Account type (checking or savings).
- IBAN (International Bank Account Number).
- Account number.
Make sure your bank account allows for overseas transactions.
Security Question and Answer
Security question and answer will help you in safeguarding your account from unauthorised access.
Verify Account
When Payoneer will assess your application, it will verify your account within two to three business days. After authenticated, you can begin receiving payments.
Receive Payments
Share your Payoneer account information with clients and marketplaces to accept payments.
You may receive funds in USD, EUR, or any other supported currency, which may be converted into PKR (Pakistani Rupee) in your bank account.
Tips and Reminders
To prevent delays in verification, ensure that your information is exact and comprehensive.
Keep your account information up-to-date and safe.
Be aware of the Payoneer fees and exchange rates.
Manage your Payoneer account easily with the smartphone App.
End Note
Previous article by Fehmeeda Farid Khan, Stripe – How to use the Service in Pakistan
