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Payoneer India – Is There Any Hope? What’s going On?

payoneer india

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NB: Payoneer has resumed services in India (edited April 5, 2015)

Payoneer is a huge relief and the angel of most Internet Marketers and Freelancers in areas with poor financial infrastructural development. We know however, that Payoneer services have been discontinued in India following instructions from Reserve Bank of India (RBI).

Knowing how Internet Marketing, Freelancing and blogging is rapidly growing in India, one can see these restrictions as a mighty impediment.

This limitation is not only from Payoneer. Paypal, the biggest online payment platform has placed a lot of restrictions on users from India too. This is making things even more difficult for freelancers and bloggers from this country.

I remember after running this blog commenting contest, the winner was from India. Sending him the prize was a bit like an ant trying to lift a butterfly. After several days of trying one and many other accounts, I succeeded to get the $70 cash prize to him through a friend. Don’t ask me if he finally got the cashed out.

Payoneer is rapidly growing

We know we can receive to your Payoneer account from over 2000 companies, including Clickbank, CJ, Paypal, Elance, Freelancer, Amazon, Fiverr, SEOclerks, etc. The US Payment service is the hot piece of cake. With a checking account with Bank of America, you are literally able to be paid by any company in the US (I’m sure this service will soon extend to other countries)

This means not allowing Indians access to this global service is tantamount to asking Indian small businesses to quit doing business online. What use is it to do business online, earn much money in your Clickbank or Elance account, and then sit and start wondering how to get it over to you?

I know payment has been done in the past by checks and bank wire. But common! I think Indians also need a more practical solution.

payoneer india

I’m not a financial expert though but I don’t know what level of damage Payoneer is causing Indian financial system. I think there will be more excitement and growth in online business if this restriction is lifted.

Payoneer India! Is there really any hope?

What is going on right now? I’d like to know if something is being done to salvage the situation. If you have any valuable information, can you tell us?

Isn’t it possible for Indian online entrepreneurs to come together as one person and face this barrier? I think it’s something you guys should think about. Well, maybe something is under way πŸ˜‰

India is a big digital market

You agree with me that when it comes to computers and the Internet, India is a force. Check Alexa stats for some popular site. You will discover a huge portion of traffic coming from India.

Payoneer and Paypal limitations are cutting off a considerable fraction of  the global market. That is affecting everybody selling some stuffs online. Many readers from India have complained to me on how they are unable to buy my plugin. They suggest they will use a friend’s Paypal address and this hardly will work.

I think these obstacle imposed by these financial giants is affecting everyone, including vendors that would have benefited from the results of free access to these services in India.

payoneer suspended in india

Payoneer Africa – What’s going on?

I’m from Africa, Cameroon to be more precised. I’m also a proud user of Payoneer, at least for now. I’m able to withdraw my Clickbank earnings, Peerfly earnings, SEOClerks, Fiverr, etc. I use the Payoneer Mastercard locally to withdraw in local currency. I can also use the card to renew my domain name with Godaddy, Webhosting with HostGator, Google Apps and buy a lot of things online.

But all is not well though! I’m loosing sales. Most of my clients in India are unable to pay me for my products or services offered them. They don’t have access to Payoneer. They are also not able to use Paypal. So you see how far this issue with Payoneer India is affecting us ?

So let me hear from you guys

Is there something underground? Any idea what’s happening to Payoneer India?  What’s your opinion? How have these restrictions affected your online business? Share your views in the comment box.

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Enstine Muki
 

Certified Cryptocurrency Expert, Problogger and Serial Entrepreneur

Harleena Singh

Hi Enstine,

Thanks so much for this informative post. Though I’ve never used Payoneer as PayPal works good for me, but I know Payoneer is an essential option for many.

Even PayPal had problems with RBI a couple of years back, but they were sorted out within some time. Now, Indians cannot make purchases using PayPal, and cannot keep money in PayPal as balance. The balance automatically gets transferred to their local bank accounts within 24 hours even if they do not withdraw it manually. This is all done to stop illegal money laundering, so I’ve no problem in supporting my government for that purpose.

Now, since the PayPal money comes directly in your bank account, it comes under audit and is taxable. So, all Internet marketers now can’t avoid government income tax rules.

I believe all Indians can get access to PayPal, however, I do not know why Payoneer stopped its services in India. As you mention, it could be quite helpful to people all over the world.

Thanks for your concern, taking initiative and trying to motivate others to look for solutions. I understand this badly affects your business and hope that there’ll be a likely solution in the near future. πŸ™‚
Harleena Singh recently posted…The Aha!NOW Chat With Harsh Agrawal [Interview]My Profile
Twitter:

    Enstine Muki

    Hey Harleena,
    Thanks for bringing this light. I think if Paypal money is automatically transferred to banks, for some reasons, it is good but what happens if one wants to use that money to purchase online?

    For Payoneer, I hope I’ll be able to get some more clarity for my awesome Indian readers.

    Do have a wonderful Sunday and thanks for being part of this post this weekend
    Twitter:

Harshil Barot

Now, India is a Top Growing Country in Online Marketing.
Still Payoneer is Not available In India, It’s terrible.
I Hope that Payoneer is available in India Soon.
Twitter:

    Enstine Muki

    That’s terrible too bro and I hope you guys put your voices together and stand for a solution. It may be hard but give it a try
    Twitter:

Sylviane Nuccio

Hi Enstine,

I had never heard of Payoneer before. That’s really great that economically challenged country can have a solution with this, however that’s sad that India has problems with this. When you think that Indians are top tech people in this world. In the US IT/Tech people almost always turn out to be from India.

I hope that in this 21rst century at some point the whole world could be on the same accord, not matter what. That will really be great.
Twitter:

    Enstine Muki

    Hey Sylvian,
    Maybe Indians too are also top in cracking bank systems πŸ˜‰

    As we try to grow technology and offer services to everyone, evil too is growing. That makes it hard for everyone to be at the same accord at any given moment. However, we shall hopefully get to a more acceptable point one day

    Hope you enjoyed the weekend
    Twitter:

Sunday

Hi Enstine,
This is a good question and I agree that Indians in the digital business should rise up and do something about this trend.

Payoneer is possibly following the footsteps of Paypal which has restricted a lot of countries for security reasons.

The Reserve Bank of India (RSI) must have had a pretty hard time before taking this decision!

This comment was left in kingged.com – the content syndication and social bookmarking website for Internet Marketers where this post was shared.

Sunday – kingged.com contributor

https://kingged.com/payoneer-discontinued-indian-update/
Twitter:

    Enstine Muki

    Hey bro,
    I’m sure one day, they will come back to this decision. The country should not suffer because of some few hackers who can be dealt with if resources are put together.

    Thanks for your contribution and sharing on Kingged.com
    Enstine Muki recently posted…How I got paid $660 to drive traffic to my blog!My Profile
    Twitter:

Mohit

Hi Enstine I want to thank you for writing this post….You have done superb work….I think that Payoneer should continue to work in India. I think there should be some new rules and some restrictions if it is necessary but it shouldn’t stop working. Many school and college students in India are trying to earn online and that may get harder if they can’t use Payoneer. These students are able to support their families by earning online and that’s why they should be supported. Everyone in India makes use of Payoneer and other services for withdrawing money so this service should get started again very soon. Enstine thanks once again for being so good..
Mohit recently posted…Triple SIM Android Smartphone E700 has been Announced by AcerMy Profile
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Ryan Biddulph

Getting paid when I was in India, or at least, transferring money, was a pain in the butt when I was in India Enstine lol…hopefully one or 2 really good payment sites stay up there, and the fool scammers cut out their crap, so they stop spoiling it for the honest majority.
Twitter:

Samir

Hello,

Well its really sad moment that payoneer is not available for India. So we ends up using paypal and sometimes it sucks.
Samir recently posted…Top 5 Problems that Apple iPhone 6 will solveMy Profile

Rohan Bhardwaj

I got introduced to paypal before payoneer, so I never stumbled upon it. Getting a paypal account is not a piece of cake, at least wasn’t for me. It took me 1 month of instant co-ordination with them to get it approved.

Yes, the main issue is money laundering, but the irony is many money laundering is done by politicians and businessmen who don’t use paypal or payoneer.

Anyway, I landed here via kingged.
Twitter:

    Enstine Muki

    That’s it Rohan! I think you are very correct there. Politicians are the ones playing the dirty game. Now the grass root communities are suffering. Hope someone good is done and fast
    Twitter:

Olamosh

It is high time for internet entrepreneur in India to start seeking for alternative method. Indian & china is now seen as a threat to cyber attack.

I think it is all about security. There is no doubt this new development will affect bloggers and internet marketers on the country. I am 101% sure payoneer will still be make available in India but for the main time, i Think best alternative should be seek for.

Here in africa we are clamoring for PAYPAL because we have PAYONEER but now India is discontinued from payooner.

I wish the internet guys over there best of luck. If we here in Nigeria & Ghana can find means to operate PAYPAL, THEY SHOULD ALSO FIND WAY TO OPERATE PAYONEER πŸ™‚

Thanks for coming up with this topic Enstine
Twitter:

    Enstine Muki

    Paypal now is covering Nigeria and some other African countries, including Cameroon. That’s a threat to Payoneer isn’t it?

    Well, though in this first phase, it’s almost lame. I hope the next phase will take us a bit higher.
    Enstine Muki recently posted…Paypal Cameroon – How to open a verified AccountMy Profile
    Twitter:

Mi Muba

I think any middleman service must be in making to bridge the gap of doing online financial transactions in India. The situation in Pakistan is also same. Paypal doesn’t operate in Pakistan while to create Payoneer lot of requirements are to do that are not possible for an average online marketer. That is why most of online activities are purely local here or being done mostly as hobby. Almost 95% bloggers do blogging as hobby while rest of 5% hardly mature their online financial transaction with the help of any oversees friend.
Twitter:

    Enstine Muki

    Terrible situation isn’t it Mi?
    Hope a solution is worked out so soon so that things can be well with blogging friends in that area

    Good luck
    Twitter:

Kannan.A

Mr.Enstine,
Your post is a great whistle blower for Indians. At India, restricting the operations, like Paypal or Payoneer is a great inconvenience. So, no purchases can be done through these services. India has lot of computer based job seekers. Many scam webs around the world, can have free hands by declaring that, on line job seekers will be paid through Paypal or Payoneer. Without knowing all these detail, fresh job Indian seekers, accept the job and should be carry on waiting and wondering how to get payment. Just we can think the efforts, job man hours, usage of computer net works, electricity etc, which are spend due this move.
In steed, RBI should allow these services by some regulated manner.

Nuzzo

It looks like Payoneer is banned from PayPal. Do you think it would be a good idea to get a vcc from Auction Essistance to verify my account?

pavan

oh .. nice information .Thanks!!I don’t know what level of damage Payoneer is causing Indian financial system. I think there will be more excitement and growth in online business if this restriction is lifted.It looks like Payoneer is banned from PayPal

Nuzzo

Payoneer has been banned for months. It makes it difficult to get your money when Payoneer was a great source. Has anyone tried Auction Essistance for PayPal services?

Riya Arora

Hi Enstine,
First of all, i would appreciate the words. Good to say that the India had become a great online media and the total market turned to digital marketing. Payoneer had down their market. now its turn to some like Paytm and Oxigen etc..

Paypal Cameroon - Steps to open a verified account quickly and easily!

[…] Most of my blog readers are from US, India, Nigeria, etc. I know Indians have issues too with Paypal and Payoneer. I wrote about it in this post. […]

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