Payoneer, one of the leading financial platforms for cross-border payments, has announced a significant fee increase for its Pakistani users, more than doubling its previous rates. This move has caused frustration among freelancers and small business owners in Pakistan, who rely on the service for receiving international payments. The new fee structure has raised concerns about the affordability and accessibility of international financial services for many in the country.
The company attributes the increase to rising operational costs, including inflation, exchange rate volatility, and regulatory demands. Payoneer has stated that these factors have made it impossible to maintain the low fees that users in Pakistan previously enjoyed. As a result, the new fees will apply to withdrawals and transactions, affecting both individual and business users.
Many freelancers, who constitute a significant portion of Payoneer’s user base in Pakistan, have expressed concern over the impact of these new charges on their earnings. The higher fees will likely force users to adjust their pricing models or seek alternative payment solutions. However, with limited options for international payments in Pakistan, some users may find themselves with few alternatives to Payoneer.
While the fee hike has triggered a backlash, Payoneer insists that the decision is crucial for ensuring the platform’s continued operation in Pakistan. As digital payment services grow increasingly competitive, this price adjustment reflects the broader challenges facing the global financial sector.
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