We understand that creating a Payoneer account in Pakistan can be a daunting task, especially if you are new to the platform. That’s why we’ve put together this comprehensive guide to help you create a Payoneer account in Pakistan with ease.
Step 1: Sign Up for Payoneer
To get started, head over to the Payoneer website and click on the “Sign Up” button. You will then be asked to provide your personal details such as your full name, email address, date of birth, and phone number. Make sure that the information you provide is accurate as it will be used to verify your identity later on.
Step 2: Provide Your Address Details
Once you have provided your personal details, you will be asked to provide your address details. This includes your street address, city, and postal code. Make sure that the address you provide is accurate as it will be used to send your Payoneer card later on.
Step 3: Verify Your Identity
To verify your identity, Payoneer will ask you to provide a valid government-issued ID such as your passport or national ID card. You will also be asked to provide a selfie holding your ID to confirm that the person creating the account is the same as the person on the ID.
Step 4: Create Your Payoneer Account
Once your identity has been verified, you can create your Payoneer account. This involves choosing a username and password for your account. Make sure that you choose a strong password that is difficult to guess to keep your account secure.
Step 5: Link Your Bank Account
To start receiving payments, you will need to link your bank account to your Payoneer account. To do this, simply click on the “Add Bank Account” button and provide your bank details. Payoneer will then send a small amount to your bank account to confirm that it is valid.
Step 6: Order Your Payoneer Card
Finally, you can order your Payoneer card which will be used to withdraw funds from ATMs and make purchases online. Simply click on the “Order Card” button and provide your shipping details. Your card should arrive within 2-3 weeks.
In conclusion, creating a Payoneer account in Pakistan is a straightforward process that can be completed in just a few simple steps. By following the steps outlined in this guide, you should be able to create your Payoneer account in no time and start receiving payments from clients around the world.
We hope that you have found this guide helpful. If you have any further questions or concerns, please feel free to contact us. Thank you for choosing Payoneer!
Payoneer CEO
The current CEO of Payoneer is Iain McDougall. He was appointed as CEO in June 2021, succeeding Scott Galit, who served as CEO for over a decade.
Prior to joining Payoneer, McDougall was an executive at Stripe, where he led the company’s business in Europe, the Middle East, and Africa. He also worked at Google for over a decade, holding several leadership positions in the company’s payments and commerce divisions.
McDougall’s appointment as CEO came as Payoneer was preparing to go public through a merger with a special purpose acquisition company (SPAC). The merger was completed in June 2021, and Payoneer began trading on the NASDAQ under the ticker symbol “PAYO”.
Payoneer Chat
Payoneer offers customer support through a variety of channels, including a live chat feature on their website. To access the live chat, follow these steps:
- Go to the Payoneer website and click on the “Contact Us” link at the bottom of the page.
- Select the topic that best describes your issue or question.
- Click on the “Chat with Us” button.
- Enter your name, email address, and a brief description of your issue.
- Click on the “Start Chat” button to begin the chat.
The live chat feature is available 24/7, and allows you to communicate directly with a Payoneer customer support representative in real time. This can be a convenient and efficient way to get help with any issues you may be experiencing with your Payoneer account or transactions.
Payoneer USD to PKR
Payoneer offers currency conversion services that allow you to convert US dollars (USD) to Pakistani rupees (PKR) at the prevailing exchange rate. Here are the steps to follow:
- Log in to your Payoneer account.
- Click on the “Receive” menu and select “Global Payment Service”.
- Click on the “USD” option to view the details of your USD receiving account.
- Take note of the “Currency Balance” section, which shows how much USD you have available to convert.
- Click on the “Convert” button next to the USD balance.
- Select “PKR” as the currency you want to convert to, and enter the amount of USD you want to convert.
- Review the conversion rate and the estimated amount of PKR you will receive.
- Click on the “Convert” button to initiate the conversion.
Payoneer charges a fee for currency conversion, which varies depending on the currencies involved and the amount being converted. It’s important to review the fee schedule before initiating the conversion to ensure that you understand the associated costs. Additionally, the exchange rate used for the conversion will depend on market conditions and may fluctuate over time.
Payoneer to JazzCash
Transferring funds from your Payoneer account to your JazzCash account is possible through Payoneer’s withdrawal service. Here are the steps to follow:
- Log in to your Payoneer account and navigate to the “Withdraw” section.
- Select “To Bank Account” as the withdrawal method.
- Choose PKR as the currency and select “JazzCash” as the bank account.
- Enter the amount you want to transfer and review the withdrawal details.
- Click “Submit” to initiate the transfer.
Payoneer typically processes withdrawals within 2-5 business days, depending on your location and the currency being withdrawn. Once the transfer is complete, the funds should appear in your JazzCash account.
It’s important to note that Payoneer may charge a withdrawal fee for transferring funds to a bank account, and JazzCash may also charge a fee for receiving the transfer. You should review the fee schedules for both services before initiating the transfer to ensure that you understand the costs involved.
Absorption Costing MCQs with Answers Explanation Engineering ECE
What Is Absorption Costing?
Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.
Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.
However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.
Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?
a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead
Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.
When production exceeds sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing
Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.
Which of the following statements is true about absorption costing?
a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes
Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.
In a period of increasing production and sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing
Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.
