Freelancing is one of the best ways to earn income.
And, for youngsters is the most practical route of revenue.
Freelancers make a move from 9-to-5 jobs to become freelancers in numerous disciplines. You are not just your employer as a freelancer and enjoy flexible working hours with a handsome pay plan. It is not shocking that freelancers are a collective of hard-working individuals, with many working weeklies for about 30-50 hours.
A free invoice generator app is one of the best business applications to install for managing your billing and time-tracking cycle. Here is why most freelancers look forward to the best online payment processing software.
Freelancers work on several assignments for their diverse clientele across the globe. At the end of any month, there is no guaranteed paycheck to be collected, but being paid on time after all the hard work becomes a key concern. Therefore, it is essential to find a secure online payment portal that guarantees that the services are charged on time. And what better it could be than an online payment software such as Moon Invoice.
7 best freelance payment methods in 2022
Our online payment software experts have done in-depth research to help freelancers in getting acquainted with the best freelance payment methods. Let’s check out the names.
Freelancers can now conveniently collect payments in their local currency through the TransferWise freelance payment methods. TransferWise meets the exact exchange rate as Google or XE. But what makes it different is that it lets you save on currency conversion. It is operational and serves multiple currencies all over the globe. The fees incurred here depend on the receiver’s and the sender’s location. With TransferWise, the only drawback is that it limits particular countries’ activities to ensure that you have thoroughly reviewed their country page.
Features of Transferware
- Transfers essential money from one bank account to another
- Extensive money transfers through this freelancers accounting software
- Transfers of foreign currency
- A multi-currency account in many currencies accepts, saves, and keeps the money.
If you are using a free invoice maker app such as Moon Invoice, you can easily integrate the popular online payment gateways.
Payoneer is the largest and most trusted multinational encrypted freelance payment method. It is the most sought-after form of freelance payment available in different countries worldwide. The transfers here are handled quickly, and within 2 to 6 working hours, you can access your funds comfortably.
It’s completely free to sign up for Payoneer, and the processing costs are even smaller than other freelance accounting software types. The drawback that comes with Payoneer is that it charges a $25 recurring fee for maintaining your account.
Features of Payoneer
- Single Payout
- Receive Payments
- Mass Payouts
- Funds Withdrawal
- Partner Network
- Integrated Payments
- Multi-Currency Support
- Escrow Payments
Moon Invoice, a free invoice generator app, helps you integrate your invoices with the Payoneer payment gateway while sending invoices.
Another trustworthy form of freelance payment method that fits well for freelancers and newcomers is Stripe. It is active in more than 130+ nations around the globe, headquartered in the USA. The Stripe can be conveniently combined with any website or online store for e-commerce, making it an acceptable payment option for freelancers.
With Stripe, many first-time users face difficulty in terms of their usage. However, it is just as easy as other payment platforms if you are a techno-geek. Stripe has no set-up or recurring payments, but it costs you 2.9% + 30 cents for any reasonable credit card payment.
Features of Stripe
- Dispute Handling
- Financial Reporting
- Clean Canvas
- Open-Source Plugin
- Payment Options
- Mobile Customer Interface
We have integrated Stripe as one of the important payment gateways with our online payment processing software, Moon Invoice.
Formerly known as Moneybookers, Skrill was leveraged the most for betting and online gaming transactions. However, it is currently used for freelancers and traditional freelance payment methods. At Skrill, nothing is paid to the sender (client) for sending the invoice.
Conversely, with each purchase, freelancers tend to pay a one-time fee at the time they borrow money from their accounts. Nevertheless, this one-time varies based on the nation of the customer. The payment account is limited, and there are some restrictions on collecting money above $2000. It is easy to use Skrill.
Features of Skrill
- Credit Card Transactions
- Email transactions
- Free account
- Fast access
- One place data
How to get faster payments from your clients?
Paypal for freelancers is a well-known online invoice payment processing software payment site. It facilitates smooth integration with standard plug-ins and online stores for e-commerce. The advantages of using this freelance payment method are that it offers various ways of withdrawal of payments, periodic payments, and a hosted checkout experience. PayPal is an internationally centralized payment portal that delivers a hassle-free experience with various language assistance.
The only downside to this freelancer’s accounting software here is the high transfer and transaction costs, which vary from country to country.
Features of Paypal
- Accept Payments Online
- Barcode Scanning
- Bill Me Later
- Credit Card Reader
- Express Checkout
- Inventory Tracking
- Mobile Card Reader
- Online Invoicing
You can easily integrate the PayPal payment gateway method using our online payment software. Check out our online payment processing software for more information.
Another very common payment gateway used by freelancers is Instamojo. It allows users to make payments with their email address or username. Users can also receive payments similarly. It does it all without any charges. This online invoice software for freelancers also enables you to build payment connections that you can conveniently share with your customers and collect from them any amount requested. Instamojo aims to provide the ‘easiest payment options’ to enable freelancers to evolve smoothly and cost-effectively. There is no monthly or yearly charge here, and just a flat fee per account has to be charged by consumers.
Features of Instamojo
- Secured server
- Alerts & Notifications
- Transaction Data Management
- Multiple Payment Platform
- Simplified Integration
- Maintain Multiple Bank Accounts
When we talk about the freelance payment method in India and the Philippines, Remitly tops the list. You can find no-to-miss discount opportunities here, with one of them being no processing fees above $1000.
However, it charges a regular tax of $3.99 on credit and debit card transactions. There’s even an alternative at Remitly to submit payment free of charge. But this payment execution process takes up to 3 days. When you’re not in a hurry, it certainly works for you.
Features of Remitly
- Zero fees for transactions when the card is used abroad
- Zero account maintenance fees
- Zero overdraft fees
- Zero ATM fees
- Zero minimum balance
Conclusion to choosing online payment software methods
Being a freelancer and working for oneself in a defined time is a joy and perk that everyone wishes for in their life. A decent freelance payment app saves freelancers from being duped and safely handling their finances. The above are some of the more acceptable types of freelance payment methods that freelancers use to their benefit. You can select the one that fits better for you to get all your payments in a timely, cost-effective, and healthy way.
Moon Invoice offers 24+ online payment gateways for helping you receive quick payments from your clients. Be it Stripe, PayPal, UPI, or any other online payment processing gateways- we have got everything integrated with our online payment software.