At present, there are three main ways to collect payments from sellers supported by Shopee: Payooneer, Pingpong, and Lianlian Payment. Their advantages and disadvantages, rates and withdrawal times are also different. Here is a detailed explanation for sellers about which fee is lower in Shopee.
Payoneer is an old-fashioned collection tool, and you should be familiar with Amazon and independent sites. Founded in 2005 and headquartered in New York, USA, it is an organization authorized by the MasterCard organization to issue cards.
PingPong is a subsidiary of Hangzhou Ping Pong Intelligent Technology Co., Ltd., which is a Chinese local multi-regional collection tool.
Lianlian Cross-border Payment is a professional, safe and efficient global cross-border e-commerce collection and payment platform that supports third-party cross-border e-commerce foreign trade collections such as Amazon, eBay, and PayPal.
Payoneer: The normal rate is 1.2%, the minimum amount is more than 15 US dollars, and the withdrawal time is about 1 day, and there is exchange loss;
PingPong: The normal rate is 1%, the withdrawal time is about 2 hours, and there is a foreign exchange loss;
Lianlian Pay: The normal rate is 0.7%, the withdrawal time is 5 minutes, and there is no exchange loss.
Payoneer: The advantage is that you can apply for a physical card, which can be consumed overseas.
PingPong: Only PingPong can bind multiple stores with one account.
Lianlian Pay: At present, the fee rate of the three collection tools is the lowest, the withdrawal time is the fastest, and there is no exchange loss.
Payoneer: Among Shopee's three payment methods, the handling fee is the highest; in terms of withdrawal, it is not as convenient as PingPong and Lianlian.
PingPong: There is a risk of freezing when directly receiving personal payments from customers.