Over the years I’ve used a lot of different ways to pay my OFS team.
I started with Xoom.com. Then they freaked out and started telling people they couldn’t use Xoom for business transactions. I can’t even tell you how many people I know got stranded because they relied on Xoom. Never again!
I’ve used Paypal. It’s slow and fees are high. If you’re paying someone one time, fine, but for long-term use, everyone involved is getting ripped off (except for Paypal).
I used Western Union for a while. It was surprisingly good. Fast, low fees. Just…more complicated than I wanted.
When we started building EasyPay the goal was to take all the things we liked about each different payment system and create the one we wanted to use.
And that’s what we did.
Super fast transfers (this matters in the Philippines)
Highest exchange rate (nobody likes exchange rate profit)
Easy to use.
EasyPay is a partnership with Payoneer.com.
Because we had such high volume, we were able to push them on a couple points.
Let me explain:
1. With EasyPay, there are no fees. Payoneer usually charges a 1% fee, but not when you use EasyPay to pay.
2. They use the actual mid-market exchange rate.
3. The only “fee” with EasyPay is when the payment gets withdrawn to the bank account. Payoneer adds a 2% fee. This is their exchange rate fee. Most (including Paypal) charge a 5% – 7% fee here.
4. The initial transfer will take 5-7 days. After that transfers happen in 24 hours. This was another push we made with them. They’ve done a great job fulfilling.
5. We don’t add any fees or take a cut.
6. It’s built-in to your OnlineJobs.ph account. It doesn’t require a subscription. You can always use it with your free account.
Sending money with USD, GBP, and EUR is super simple with EasyPay.
It goes straight into your OFS bank account. It’s easy for them.
Now if we can just get Payoneer to add AUD…we’re working on it.