Is Payoneer Safe? Tips To Minimize The Scam Risks

Is Payoneer Safe? Tips To Minimize The Scam Risks

Payoneer is one of the leading solutions for sending and receiving global payments. It offers flexibility and scheduling of payments to small businesses. Payoneer is primarily used for receiving e-commerce and freelance payments.

FinTechs has made global payments easier to send and receive in no time. However, there are some risks associated if you are a beginner. It is necessary to know whether is Payoneer safe and legit or not.

You need to be very careful about payment scams happening in the online world. We will try to explain Payoneer scams to our readers in this article.

How Does Payoneer Work?

Payoneer is a credible solution for international and digital payments. Everything can be tracked and managed virtually. You can easily sign up and start using it without any complex or physical verification process.

It supports more than 150 local currencies and 200+ different countries. It is used as a digital payment option at Google, eBay, Airbnb, Amazon, Upwork, Fiverr, Rakuten, and many others.

You can send and withdraw funds by using the Payoneer App, Mastercard, and website as well. It also supports local bank transfers.

Payments can be scheduled and requested through Payoneer using a bank account or credit card. USD, GBP, EUR, CAD, AUS, and JBH are a few popular local currencies supported by Payoneer.

Is Payoneer Safe?

The most asked question we will try to answer is, Is Payoneer Safe And Legit? There are several digital payment options available globally.

Payoneer is a legitimate and well-recognized digital payments solution provider operating since 2005. It is a registered MSB (Money Service Business) under US regulations and operates with a PCI Level 1 data security mechanism to ensure maximum user protection from fraud and scams on its platform.

All systems and networks are annually audited for their PCI data security measures. Its transactions are fully protected by Firewalls from different cyberattacks.

Payoneer enables a sophisticated account protection mechanism from phishing, identity theft, and other fraudulent practices. You get notified for each transaction performed on your account.

Tips To Avoid Payoneer Scams

Digital payment methods are good for swift transactions, however, there are some risks as well. You need to be very careful of the scammers who are always behind your Payoneer account. Here are a few important tips to avoid Payoneer scams.

Never Share Your Login Information

Login credentials are very sensitive which directly helps in accessing your account. Sharing them with an unauthorized person can be disastrous.

There may be someone through text message, call, or email pretending to be Payoneer customer support. They trap users to share their login information as per company instructions.

Payoneer asks its users to never share account login details with anyone even customer support. Make sure you are using the real Payoneer URL for login.

Use a Hard Username And Password

Hackers and scammers use random usernames and passwords to break in. Always use hard usernames and passwords for your Payoneer account.

Single-letter and easy-to-remember passwords are vulnerable. Use a minimum of 8 characters, including upper case, and lower case letters, symbols, and digits.

For example “12345” is the easiest password to crack and login into your Payoneer account. While “A@12345? is a relatively strong password.

Ignore Spam And Phishing Emails

Spam and phishing emails are very common practices used to hack Payoneer accounts. They aim to steal your login information, username, credit & debit card information, and other important data.

Phishing emails are hard to differentiate because of their identical URLs. It may be subjected to verify your account details. If you click on such emails and follow their instruction, it may hurt you financially.

Your account information will be directly sent to the scammer. Phishing sites use clones of real sites, with the same homepage, logo, and information. Which encourages users to click and follow up trustfully. Discard and report spam and phishing emails to save people from such scams.

Monitor Your Account Activity

Keep a regular check on your account activity, transactions, withdrawals, and history. View the balance history and current status. If something is wrong, change your account password as quickly as possible.

Keep Your Devices Safe

The Payoneer account can be accessed from mobile phones and desktop devices like PCs, and laptops. They have all the login information stored for quick login. Criminal players penetrate your devices through virus attacks and malware.

The prime goal of the breach is to steal financial or other confidential information. Keep your devices safe from such elements by strong password protection security.

Third-party software, apps, and tools installation also expose your device to attackers. Always install apps and software from reliable sources.

Using public Wifi to log in to Payoneer can also be vulnerable. Use a secured data connection and VPN to keep your information and device safe from attackers.

In case of device theft or stolen case, use a remote wipe tool to delete your personal and financial information from the device. If they get access to your device your data will be misused. Keep such devices with you or in safe custody to avoid any mess.

Enable Two-Factor Authentication

Payoneer gives an added security layer with a two-factor authentication feature. You can turn it on within your security settings tab. It requires an active phone number to receive authentication codes on each login attempt.

If someone gets access to your account login information, it will be prevented by an additional login code which can be accessed through the added phone number.

Enable two-factor authentication to keep your account in safe hands. It reduces the risk of unauthorized access.

Use On Trusted Sites

Payoneer is a popular method of receiving online payments through freelance websites like Fiverr, Upwork, and People Per Hour. It has other uses and funds withdrawal options.

Always use it on trusted sites, which ensure payment and data security. The site you gonna use Payoneer must have a self-signed SSL certificate.

It is easily visible through the browser, a lock shown at the left of the website URL. Make sure before entering your Payoneer credentials on unsecured sites.

What Personal Data Payoneer Collects?

Payoneer collects the following information when you sign up on it.

• User’s actual name, email, phone number, address, date of birth, national ID number, and other personal information
• Information of the bank account connected with the Payoneer
• User activity tracking through cookies and Google Analytics
• Business Information
• User location and any other necessary documents shared during the verification process

All the personal information collected above is used in user identification. The cookies are utilized to improve the user experience. Phone numbers and emails are required for future communication, messaging, and account security.

The main aim of collecting personal information is to counter scams, money laundering, and other financial irregularities. Payoneer privacy policy and TOS include all the information it requires the new user to agree to before proceeding.

Final Thoughts

Payoneer is a legitimate and safe digital payment method. In my personal experience of the last 3 years, I never faced any information theft or scam.

By following the above tips you can keep your account safe from fraudsters. It is one of the best solutions to send and receive global payments.