How to use Payoneer for B2B payments and invoicing in the Philippines

Why international payment solutions matter in the Philippines

For businesses and freelancers in the Philippines, international clients and partners present both opportunity and complexity. The traditional banking system often introduces delays, high fees, and paperwork. That’s where platforms like Payoneer come in, providing faster, more affordable, and more efficient ways to receive and send money across borders.

With the Philippine BPO sector booming, and a growing number of freelancers working with clients in the US, Europe, and Asia-Pacific, the demand for global payment solutions that are accessible, cost-effective, and reliable is higher than ever.

International clients now expect faster turnaround and transparency when making payments, delays or confusion caused by legacy banking processes can lead to lost business or strained relationships. This makes it essential for Philippine-based service providers to offer convenient payment options that meet global expectations.

Moreover, with the rise of digital entrepreneurship, online consulting, and remote service delivery, even small players are dealing with multinational clients. Payment platforms that offer multi-currency accounts, flexible withdrawal options, and low transaction fees give Filipino professionals a competitive edge. They eliminate the need to maintain costly foreign bank accounts or rely on multiple intermediary services.

Whether you’re receiving payments for software development, digital marketing, content creation, or export services, choosing the right global payment solution can significantly impact your bottom line and your professional reputation.

Key Payoneer features for Filipino businesses and freelancers

Payoneer offers a wide variety of tools that are especially useful for businesses and professionals in the Philippines. From streamlining incoming payments to simplifying compliance with international financial regulations, it offers a complete infrastructure for handling cross-border transactions with confidence. Its user interface is intuitive, making it easy even for first-time users to generate invoices, track earnings, or initiate transfers. With built-in support for multiple currencies and local bank integrations, it adapts well to the unique financial landscape of the Philippines, where versatility and affordability are essential for international growth.

These include:

• Multi-currency receiving accounts – Open local receiving accounts in USD, EUR, GBP, and other major currencies to get paid as if you had a bank account in those regions.
• Currency management – Hold balances in different currencies and convert them when exchange rates are favorable.
• Mass payouts and batch payments – Useful for businesses that need to pay multiple suppliers, employees, or contractors.
• Marketplace integration – Seamless compatibility with platforms like Amazon, Airbnb, and more.
• Regulatory compliance – All transactions are compliant with international AML (anti-money laundering) and KYC (know your customer) rules.
• Competitive fees – Lower transaction costs than traditional banks and transparent fee structures.

These features allow freelancers, ecommerce sellers, agencies, and SMEs in the Philippines to operate globally while managing funds locally.

How to create and send invoices on Payoneer

One of Payoneer’s best tools is its invoicing feature. You can create and send professional invoices directly from your dashboard, simplifying the process of getting paid.

Here’s how to create an invoice on Payoneer:

1. Log in to your Payoneer account.
2. Go to the “Get Paid” section.
3. Select “Request a Payment.”
4. Enter your client’s name, email, and the amount to be paid.
5. Upload a PDF invoice or create one using Payoneer’s template.
6. Add your preferred receiving account and purpose of payment.
7. Click “Send.”

Your client will receive a professional payment request by email. Once they pay, funds will arrive in your Payoneer account within 1–3 business days, depending on the payment method they use.

What are the benefits of Payoneer’s invoicing?

• Tracking invoice status in real-time
• Accepting payment by credit card, ACH (US), local bank transfer, or Payoneer-to-Payoneer
• Centralized history and record-keeping

Click here to find out more: Payoneer invoice payments 

This tool is especially useful for freelancers and small business owners who manage their own billing and want to avoid chasing unpaid invoices.

Payoneer’s invoice feature also supports recurring billing setups, which is especially beneficial for service providers working on retainers or subscription-based contracts. In addition, users can set automated reminders for unpaid invoices, helping improve payment discipline and reducing follow-up time. Because the invoicing system is integrated into the same dashboard used for receiving and managing funds, Payoneer streamlines the entire payment cycle, from request to reconciliation. 

You can also download transaction reports to simplify bookkeeping and tax filing, giving you more time to focus on delivering services instead of handling administration.

Click here to find out more: Get paid by clients. 

Payoneer-to-Payoneer transfers for B2B transactions

If your client, contractor, or business partner also has a Payoneer account, you can send and receive payments for free via Payoneer-to-Payoneer (P2P) transfers.

This feature is ideal for:

• Outsourcing relationships (e.g., paying VAs or writers)
• Agency-client settlements
• Cross-border partnerships

To send money via Payoneer-to-Payoneer:

1. Go to “Pay” > “Make a Payment.”
2. Enter the recipient’s Payoneer email or username.
3. Choose the amount and currency.
4. Add a payment note or invoice number.
5. Click “Send.”

Transfers are typically instant or completed within a few hours. There are no transfer fees, and the process is fully traceable via your Payoneer dashboard.

One key advantage of P2P transfers is the ability to pay global team members in a way that feels like a local transaction. There’s no need to deal with SWIFT codes, IBANs, or lengthy intermediary processes, making it especially helpful for agencies and project-based collaborations. For recurring payments, such as monthly retainers or regular supplier invoices, P2P offers simplicity, cost savings, and speed that traditional banking systems rarely match.

Additionally, Payoneer enables you to organize your payees by adding them to your contact list. This makes repeat payments quicker and reduces errors. Each transaction is recorded with time stamps, currency details, and notes, making it easier for businesses to reconcile accounts or respond to audits. If you’re looking to build a global network of trusted partners, Payoneer’s internal ecosystem is both reliable and easy.

Cross-border payment tools and Bank of America details

When you open a USD receiving account with Payoneer, you’re actually assigned a virtual account with Bank of America. This allows your clients in the US to pay you via local ACH bank transfer, just as if you had a bank account in the United States.

Your virtual Bank of America account will include:

• Routing number
• Account number
• Bank name and address
• Account holder name (yours)

These details can be found in your Payoneer account under “Receive” > “Global Payment Service.” Share these details with US-based clients when requesting payment via bank transfer.

In addition to USD, you can set up virtual receiving accounts in GBP, EUR, CAD, AUD, JPY, and more. Each has a designated banking partner and localized account details.

This infrastructure empowers Filipino freelancers and businesses to get paid like locals in multiple countries, which bypasses SWIFT fees and long delays.

How Payoneer compares to other global payment platforms

When evaluating global payment platforms for business use in the Philippines, it’s important to understand the unique strengths and limitations of each. Payoneer stands out by offering a highly tailored experience for cross-border B2B transactions, freelancers, and small businesses.

Unlike PayPal, which is often used for one-off payments and consumer transactions, Payoneer supports holding balances in multiple currencies. This is a major advantage for freelancers and ecommerce sellers who get paid in USD, EUR, or GBP and want to wait for better exchange rates before converting.

Compared to Wise, which is known for its transparent fees and mid-market exchange rates, Payoneer provides more business-centric features such as mass payouts, invoice creation, and integrations with major marketplaces. Wise is a great tool for individuals and some SMEs, but Payoneer is built with scalability in mind.

Another key difference is Payoneer’s ability to support Payoneer-to-Payoneer internal transfers. These transfers are free, fast, and ideal for businesses working within the Payoneer network, whether to pay vendors or receive client payments. Most other platforms either don’t offer this feature or charge for it.

While OFX is a strong choice for large international transfers due to its currency exchange tools and support, it lacks daily-use functionality for ongoing business payments, invoicing, or freelancer support.

So, all in all, Payoneer is best suited for:

• Freelancers and remote professionals needing multi-currency options
• Ecommerce businesses operating across global marketplaces
• Agencies and service providers managing clients and contractors abroad
• Startups seeking a compliant, cost-efficient, and scalable B2B payment system

When comparing Payoneer to other international payment platforms, here’s how it stacks up:

Feature	Payoneer	Wise (formerly TransferWise)	PayPal	OFX
Multi–currency accounts	✅	✅	❌	❌
Payoneer-to-Payoneer transfers	✅ FREE	❌	❌	❌
Marketplace integration	✅	❌	❌	❌
Invoice creation	✅	✅	✅	❌
USD (receiving account BoA)	✅	✅ (community bank)	✅ (limited)	✅
Currency conversion rates	Competitive	Competitive	Less favorable	Varies
Withdrawal to local PH bank	✅	✅	✅	✅

Find out more smart and secure business payments with Payoneer. 

Best practices for B2B payment processing in the Philippines

To make the most of Payoneer as your B2B payment partner, follow these tips:

1. Verify your account early – Submit your ID, business documentation, and link your local bank account to ensure seamless operation.
2. Use purpose codes correctly – When withdrawing funds to your Philippine bank, select the appropriate purpose code (e.g., “professional services” or “ecommerce”) to comply with BSP regulations.
3. Batch your withdrawals – Avoid repeated small withdrawals to minimize fees.
4. Leverage multi-currency accounts – Hold funds in USD, GBP, or EUR until the exchange rate is favorable.
5. Track payments and invoices – Use Payoneer’s dashboard for reporting, history, and tax preparation.
6. Educate clients – Provide your global receiving account details upfront and offer multiple payment options.

It’s also prudent to maintain regular financial reviews. Evaluate how often you receive international payments, in which currencies, and which markets are most active. This helps you decide when to convert funds or initiate withdrawals based on real-time business needs.

Additionally, build habits around documenting every transaction. Whether you’re using Payoneer for freelancing, affiliate marketing, or B2B trade, maintaining clean records aids with compliance, financial forecasting, and audits.

Staying up to date with platform updates and local tax changes can also give you a strategic edge. Payoneer regularly updates its features, so subscribing to their newsletter or blog can alert you to new tools that improve efficiency or reduce costs.

Payoneer isn’t just a tool. It’s a platform designed to help Filipino businesses grow globally. Whether you’re scaling your freelance career, expanding an ecommerce brand, or managing B2B contracts overseas, the features and support Payoneer offers can streamline every aspect of your payment operations.

Frequently asked questions 

How do I create an invoice on Payoneer in the Philippines?

Log into your Payoneer account, click “Get Paid,” and select “Request a Payment.” Fill in your client’s details and amount due, then either upload a custom PDF invoice or generate one through Payoneer’s invoicing tool. You can add line items, taxes, and payment terms. Once submitted, your client receives a secure link to pay by card or bank transfer. This feature helps Philippine freelancers and businesses request professional, trackable payments from international clients while staying compliant with regulations.

Can I use Payoneer for B2B payments in PHP or USD?

Yes. Payoneer lets you send and receive B2B payments in PHP or USD. Through the Global Payment Service, you get a local USD receiving account, which allows you to hold or withdraw funds in PHP at competitive rates. For outgoing payments, you can use “Make a Payment” to pay vendors or freelancers in their chosen currency. Payoneer-to-Payoneer transfers are typically instant and free. This flexibility makes it useful for businesses managing suppliers and clients across borders.

Is Payoneer a reliable global payment platform for Filipino businesses?

Absolutely. Payoneer operates in 200+ countries, supports 70+ currencies, and is regulated by authorities like the FCA in the UK and the U.S. Treasury. It enforces strict KYC and AML protocols to ensure compliance and security. Filipino users benefit from marketplace integrations (Upwork, Amazon, Fiverr), local bank withdrawals, and multi-currency accounts. Combined with competitive fees and robust support, Payoneer is a dependable platform for freelancers and SMEs in the Philippines looking to expand internationally. 

How do Payoneer’s features compare to competitors in the Philippines?

Compared to PayPal, Payoneer supports multi-currency balances and better conversion rates, plus local receiving accounts abroad. Unlike Wise, which focuses on personal transfers, Payoneer offers invoicing, mass payouts, and P2P business payments. OFX is best for large transfers but lacks day-to-day flexibility. Payoneer’s integrations with major platforms and its all-in-one dashboard make it especially attractive to freelancers and ecommerce sellers needing both utility and scalability.

What is the process to send money from Payoneer to another Payoneer account?

Log in, go to “Pay,” and select “Make a Payment.” Choose the Payoneer-to-Payoneer option, enter the recipient’s email, amount, and currency, then send. Funds typically arrive within minutes, and both parties are notified. These transfers are free, secure, and recorded in your dashboard for accounting. Many Filipino users rely on this feature for quick payments to contractors or international partners.

How does cross-border payment processing work with Payoneer?

Payoneer gives you local receiving accounts in major currencies so clients can pay you like a domestic partner. Funds arrive in your multi-currency wallet, where you can hold or convert them before withdrawing to a Philippine bank account. Outgoing payments are managed via “Make a Payment,” and businesses can also use mass payout tools. This setup eliminates SWIFT hassles, simplifies compliance, and makes cross-border payments faster and cheaper.

Can I use Payoneer as a freelancer working with international clients?

Yes. Freelancers can send invoices through Payoneer’s “Request a Payment” tool and accept payments via card, ACH, or bank transfer. Payoneer-to-Payoneer transfers are instant and free. You can also hold funds in USD, EUR, or GBP to optimize exchange rates before withdrawing to PHP. Integrations with platforms like Upwork and Fiverr make it especially easy for freelancers in the Philippines to get paid globally with low fees and secure processing.

What is Payoneer’s Bank of America address for wire transfers?

When you open a USD receiving account, Payoneer provides Bank of America details. The standard address is:

Bank of America N.A.
222 Broadway
New York, NY 10038, USA

Always confirm your unique details in the Payoneer dashboard, as routing numbers and account info may vary. This virtual account enables U.S. clients to pay you like a domestic recipient, avoiding SWIFT costs.

Are there any limits or restrictions for B2B international payments via Payoneer?

Yes. Limits depend on your verification, account history, and country rules. New users may face caps until they submit documents like ID and bank details. Withdrawals also require selecting a “purpose of payment” code to comply with central bank rules. While Payoneer-to-Payoneer transfers are usually unrestricted, card or bank payments may need approval if they exceed thresholds. Keeping your account verified ensures smoother transactions.

How do I receive and withdraw payments from Payoneer in the Philippines?

Activate the Global Payment Service to get local receiving accounts in currencies like USD, EUR, and GBP. Share these with clients so they can pay via local bank transfers. Funds appear in your Payoneer balance, and you can withdraw to a Philippine bank account in PHP within 1–3 business days. You may also hold funds in foreign currencies until rates are favorable. Payoneer shows all fees upfront, ensuring transparent and efficient withdrawals.