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Summary
Payoneer Workforce Management (formerly Skuad) is the lowest-priced full-service EOR in this review set at $199/month per employee — about half of Deel or Remote and $201 less than Multiplier. Payoneer acquired Skuad in August 2024 for $61 million (NASDAQ: PAYO); the product still runs at skuad.io and now plugs into Payoneer’s global payment network for salary disbursement in 70+ currencies. For APAC-focused teams under ~100 employees where cost matters, Payoneer WFM is the value default. You get India on an owned entity with PF, ESI, PT, and TDS automated; Singapore CPF and Employment Pass support; and Bangladesh coverage that almost no other global EOR matches. The trade-off: a thinner enterprise toolset and a smaller compliance operation than Deel or Multiplier in complex markets like Japan and Indonesia.
Ratings Breakdown
Payoneer WFM in Asia: Key Facts
| Detail | Value |
|---|---|
| HQ | Singapore (part of Payoneer group) |
| Founded | 2020 |
| Employees | ~200 (at acquisition) |
| Asian countries covered | 9 |
| Total countries | 160+ |
| Time to first payroll (Singapore) | 2–5 business days |
| Time to first payroll (India) | 2–5 business days |
| EOR pricing | $199–599/employee/month |
| Contractor pricing | From $19/contractor/month (CMS); AOR from $99 |
| Deposit required | Varies by country; some reviewers report unexpected deposits |
| Local entities owned | Yes (India); mix of owned and partner in other markets |
| Integrations | 70+ (HR, accounting, time tracking, Expensify) |
| Payment methods | Payoneer network, bank transfer, 70+ currencies |
| Mobile app | No |
| Free trial / demo | Demo available |
| Certifications | GDPR compliant; SOC 2 / ISO not stated publicly |
What Payoneer WFM Does Well
$199/month — lowest full-service EOR in this set
At $199/month per employee, Payoneer WFM undercuts Multiplier ($400), Deel ($599), and Remote ($599). For a 10-person Asia team that’s $24,000–$48,000 per year saved versus premium alternatives; over 25 employees the gap is $60,000–$120,000. No teaser: benefits and core EOR (contract, payroll, statutory remittance) are included at that price. Contractor management starts at $19/month — among the lowest in the category. Month-to-month is available from day one; no long-term contract required. If budget is the main constraint and you’re hiring in well-supported APAC markets, the math is straightforward. The acquisition didn’t change the pricing philosophy; Payoneer kept Skuad’s value positioning intact.
Bangladesh coverage almost no global EOR matches
Payoneer WFM covers Bangladesh with operational depth. Most global EORs skip it or list it as partner-only with thin support. For companies hiring in South Asia beyond India — Dhaka tech or operations — Payoneer WFM is one of the few viable full-service options. That single country can be the deciding factor.
Asia-based compliance team
The compliance function runs from Asia, not San Francisco or London. For APAC-specific questions — state-level PT in India, BPJS classification in Indonesia, CPF or SDL in Singapore — you’re dealing with people in the same timezone who handle this daily. That cuts the back-and-forth that adds days when support sits in US or EU hubs.
Payoneer payment infrastructure post-acquisition
Salaries now flow through Payoneer’s global payment network: faster local-currency disbursement and competitive FX. Post-acquisition additions include Expensify integration, semi-monthly payment cycles (not only monthly), and local payout currency flexibility. You get NASDAQ-traded payment rails without changing the compliance model that made Skuad competitive.
No long-term contract required
Month-to-month is available from the start. That reduces lock-in risk for teams testing a market or scaling up and down. You’re not committing to a 12-month EOR contract to get the $199 rate.
Where Payoneer WFM Falls Short
Thinner enterprise toolset
The platform is clean and functional for core EOR: onboarding, multi-currency payroll, leave, benefits, and integrations (BambooHR, Darwinbox, Workday). It does not offer the analytics, workflows, or HRIS depth of Rippling or Deel. If you need one system to be your global HR platform, Payoneer WFM is the wrong fit. It covers EOR reliably; it doesn’t try to be Rippling.
Smaller compliance operation for complex markets
In Japan and Indonesia — Shakai Hoken, BPJS, and local employment law nuances — Payoneer WFM’s compliance depth is solid for standard hires but not as deep as Multiplier or Deel. For straightforward professional roles in Singapore, India, and the Philippines, that’s fine. For contested terminations, complex benefits, or heavy Japan/Indonesia volume, the larger players have more bench. The compliance team is Asia-based and capable; the issue is scale and specialisation in the trickiest ASEAN markets, not competence. If your first 20 hires are in Singapore, India, Philippines, and Bangladesh, you’ll rarely hit the ceiling.
Support stretched at month-end
Asia-timezone support is a real advantage; 24/5 and dedicated success managers on growth plans are offered. But like many lean EORs, the team is stretched during month-end payroll. Response times can slip when everyone is closing cycles. If you need guaranteed same-day answers at month-end, factor that in.
Hidden fees and deposits draw complaints
Trustpilot and G2 reviewers have cited unexpected deposits and fee surprises. The $199 headline is real for base EOR, but country-specific deposits and add-ons can push all-in cost higher. Get deposit amounts and refund terms per country in writing before you extend offers. Some users report difficulty recovering deposits on offboarding.
No public replies to negative reviews
Payoneer WFM (and Skuad before it) does not consistently reply to negative reviews on Trustpilot. That’s a transparency gap: when users complain about support tone or refund delays, there’s no visible escalation path. If you rely on public feedback, factor in that unresolved complaints may not get a public response.
Pricing Breakdown
Base EOR fee
$199–599/employee/month depending on country and plan. The $199 tier includes employment contracts, payroll, statutory remittance (CPF, PF, SSS, BPJS, etc.), benefits administration, and core compliance support. Japan and some complex markets typically sit at the higher end of the range; get a country-specific quote.
Add-on costs
| Service | Cost |
|---|---|
| Contractor management (CMS) | From $19/contractor/month |
| Agent of Record (AOR) | From $99/month |
| Country-specific premiums | Japan, Indonesia may carry higher rates |
| Insurance top-ups | Varies by country |
| Work permit / visa support | Typically extra |
What’s NOT included
Recruiting, performance management, and IT device management are not built in. Immigration and work-permit services are available but often as add-ons. FX is via Payoneer — competitive but confirm the rate on your corridors. Deposit amounts are not always clear from the public site; confirm before signing.
Volume discounts
Custom pricing for larger teams; no public rate card for 25+ or 50+ employees. Month-to-month means no long-term discount lock-in; negotiate if you commit to 12+ months.
How it compares
$199/month is $201 less than Multiplier ($400) and $400 less than Deel or Remote ($599). For 10 employees that’s $24,120/year saved vs Multiplier and $48,000 vs Deel. Remofirst also competes at the budget end; Payoneer WFM adds Payoneer’s payment infrastructure and Bangladesh coverage. Versus premium: Deel and Remote offer owned entities in more markets and stronger platform depth; Payoneer WFM wins on price and APAC-focused ops.
Payoneer WFM Asia: Country-by-Country
Core market and regional HQ. No partner layer. Onboarding: 2–5 days.
Owned entity — the clearest advantage. No partner escalation chain. Onboarding: 2–5 days.
Standard employment well supported. Confirm entity type if scaling heavily.
Adequate for standard hires. For complex Indonesia, Multiplier or Deel offer deeper bench.
Often carries a premium over the $199 base. Get a country-specific quote.
Standard ASEAN footprint. Onboarding: 3–5 days.
Supported. For highest-volume Vietnam setups, Multiplier’s depth is slightly stronger.
Thailand + Vietnam at $199/month is rare among competitors. Onboarding: 3–5 days.
Main differentiator — few global EORs offer Bangladesh with operational confidence.
Pros and Cons
Pros:
- $199/month EOR is the lowest full-service price in this review set, saving $24,000–$48,000 per year versus Deel/Remote on 10 employees.
- Bangladesh coverage that almost no other global EOR offers with operational depth.
- Asia-based compliance team reduces timezone lag on APAC queries.
- Payoneer’s payment network post-acquisition for faster FX and local disbursement in 70+ currencies.
- Month-to-month available; no long-term contract required.
- Contractor management from $19/month; AOR from $99.
- India owned entity with PF, ESI, PT, TDS automated.
- Singapore CPF, SDL, and Employment Pass support in a core market.
- 70+ integrations including Expensify; semi-monthly payment cycles added after Payoneer acquisition.
Cons:
- Platform lacks enterprise HRIS depth; not a substitute for Rippling or Deel’s global reporting.
- Compliance bench is smaller than Deel or Multiplier for complex Japan and Indonesia scenarios.
- Support can be stretched at month-end payroll; response times may slip.
- Hidden fees and deposit surprises cited in reviews; get deposit and refund terms in writing.
- No public replies to negative reviews on Trustpilot.
- No mobile app; web only.
How Payoneer WFM Compares
Pick Payoneer WFM if Asia is your main hiring region and cost matters: $199 vs $599 is $4,800/employee/year. Deel offers owned entities in more markets and stronger platform depth.
Payoneer WFM wins on price ($199 vs $400) and matches on core Asia coverage; both have Singapore HQ. Choose Payoneer WFM for maximum savings and Bangladesh; Multiplier for more compliance headroom in complex ASEAN markets.
Payoneer WFM saves $400/employee/month versus Remote ($599). Pick Payoneer WFM for Asia-heavy, cost-sensitive teams; Remote for global spread and platform polish.
Both are budget APAC options at $199/month. Payoneer WFM adds Payoneer payment rails and Bangladesh; Remote People adds Sri Lanka. Pick Payoneer WFM for NASDAQ-backed payments; Remote People if Sri Lanka is required.
Case Studies
IT consulting firm uses Payoneer WFM to onboard, manage, and pay talent across the Philippines and India from a single platform.
Telecom company manages contractors across Sri Lanka, Indonesia, and Thailand through Payoneer WFM’s contractor management.
Renewable energy platform expanded its team to Italy, Portugal, and the Philippines using Payoneer WFM’s EOR services.
Software company hired tech talent across Europe, Africa, and South Asia — including India — through Payoneer WFM at $199/month.
Real User Feedback
| Platform | Rating | Review Count |
|---|---|---|
| G2 | 4.6 / 5 | 169 reviews |
| Trustpilot | 4.0 / 5 | 15 reviews |
| Capterra | Not found | — |
Total reviews across platforms: 184+
What users praise:
G2 reviewers (4.6/5) frequently cite straightforward pricing with no hidden add-ons at $199, fast onboarding in Singapore and India, and support that responds in Asia timezone. The $199 fee and Bangladesh coverage are common reasons to choose Payoneer WFM over Deel or Remote. Post-acquisition, Payoneer’s payment infrastructure and Expensify integration are noted as improvements. Ninja Van is a named APAC case study (last-mile delivery across the region).
What users complain about:
Trustpilot reviewers mention unexpected deposits and fee surprises, and support that can come across as dismissive or slow to escalate. Some report no reply from the company to negative reviews. Month-end response times and platform depth versus Deel or Rippling are recurring themes. Pricing transparency is praised; deposit clarity and support tone are the main complaints.
Final Verdict
Who should use Payoneer WFM:
- Startups (1–10 international hires): Strong fit if your hires are in Singapore, India, Philippines, or Bangladesh and cost per head is the main constraint. $199/month with no long-term contract keeps burn low; 2–5 day onboarding is acceptable for early-stage.
- Mid-market (10–50 hires): Works for APAC-concentrated teams where the $24,000–$60,000 annual savings versus Deel/Remote matters. Confirm deposit and add-on costs per country before scaling; support can stretch at month-end.
- Enterprise (50+): Viable for Asia-heavy headcount, but the platform and compliance bench don’t match Deel, Remote, or Rippling. Use when budget dominates and your footprint is mostly in Payoneer WFM’s strongest markets (Singapore, India, Philippines, Bangladesh).
Who should NOT use Payoneer WFM: Teams that need a single global HRIS, owned entities in every market, or the deepest compliance bench in Japan and Indonesia. Companies that require guaranteed same-day support at month-end or that are sensitive to deposit and fee clarity should get everything in writing or consider Multiplier.
Bottom line: Payoneer WFM is the value leader for APAC-focused companies under ~100 employees where cost per head matters. $199/month, Bangladesh coverage, Asia-based compliance, and Payoneer’s payment infrastructure make it the default for budget-conscious teams hiring in Singapore, India, the Philippines, and South Asia. The $24,000–$48,000 annual savings versus Deel or Remote on 10 employees is real; the trade-off is a leaner platform, a smaller compliance operation in the trickiest markets, and reported deposit/support friction.
Best suited for: APAC-focused companies under ~100 employees where cost matters, and teams that need Bangladesh or maximum fee savings without a long-term contract.
Visit Payoneer WFM: skuad.io
Further Reading
- EOR Cost Guide — What Does an EOR Cost in Asia?
- How to Hire Your First Employee in Singapore
- Contractor vs Employee in Asia — Misclassification Risk Guide
- The EOR Consolidation Wave: What It Means for the Market
- EOR Pricing: What Providers Don’t Tell You
Frequently Asked Questions
Does Payoneer WFM own its own entity in India?
Yes. India is an owned-entity market; PF, ESI, PT, and TDS are run in-house. Other Asian markets use a mix of owned and partner entities — confirm per country.
What’s the real total cost per employee with Payoneer WFM in Singapore?
Base EOR: $199/month (or higher for premium tiers). Add employer CPF (17% for employees under 55) and any country-specific deposit. For a $5,000/month Singapore employee, budget roughly $5,850/month all-in including EOR fee and employer CPF. Confirm deposit and refund terms before signing.
How long does onboarding take in India and Singapore?
Typically 2–5 business days in both. Singapore and India are core markets with owned or strong partner operations. Japan and Indonesia may take longer; get country-specific timelines.
Is the $199/month price available in all Asian countries?
The $199 starting rate applies to many markets; Japan and some complex countries often carry a premium. Always get a country-specific quote. Contractor management is separate (from $19/month).
Why do some reviewers mention hidden fees or deposits?
Trustpilot and G2 users have reported unexpected deposits and add-ons. The $199 base EOR fee is real; deposits and country-specific costs can increase all-in cost. Request deposit amounts and refund timelines per country in writing before extending offers.
Can I use Payoneer WFM month-to-month?
Yes. Month-to-month is available from day one; no long-term contract is required. That reduces lock-in for teams testing a market or scaling up and down.
How does Payoneer WFM compare to Multiplier for Asia?
Payoneer WFM is $201/month cheaper ($199 vs $400) and adds Bangladesh; both have Singapore presence and Asia-timezone compliance. Multiplier has slightly stronger Vietnam and Indonesia depth and a more mature platform. Choose Payoneer WFM for lowest cost and Bangladesh; Multiplier for more compliance headroom in complex ASEAN markets.
Does Payoneer WFM have a mobile app?
No. The platform is web-only. Payoneer’s own app is for payouts, not full EOR workflow.
