| Company type | Online Payment, International Money Transfer and Prepaid Debit Cards |
|---|---|
| Founded | New York, NY USA (2005) |
| Headquarters |  New York, NY USA |
| Website | Payoneer.com |
Payoneer is an Internet-based financial services business that allows users to transfer money and receive payments through re-loadable prepaid MasterCard debit cards. The company focuses on specific payment solutions, including affiliate (commerce), mass payments, Local Electronic Funds Transfer (EFT), merchant accounts, and payout programs in countries with underdeveloped banking systems. Payoneer systems are used by Microsoft, 2checkout, iStockphoto, oDesk, Plimus, FixYa, buy.at, Hillel International and Conduit amongst others.[1]
Payoneer is a registered Member Service Provider (MSP) of MasterCard worldwide which issues prepaid MasterCard debit cards internationally through Choice Bank Limited.[2] The Company is headquartered in New York City with R&D offices in Tel Aviv, Israel. Payoneer has received venture funding from Greylock Partners, Carmel Ventures, and Crossbar Capital.[3] [4]
Alternative payments
editMany card Issuing Banks issue prepaid Visa Inc. or MasterCard debit cards either directly or through Member Service Providers (MSPs). In order to compete, many of these organizations target specific markets, where they can differentiate their products. Payoneer pursues a number of markets by providing salary and commission payout solutions for industries like affiliate marketing [5] , summer camps [6], freelancers [7], direct selling [citation needed] and clinical trials. [8] Payoneer, along with other companies like First Data, Automatic Data Processing and Ceridian, are changing the way people are paid worldwide. [9]
Questions in al-Mabhouh assassination
editThe company attracted much attention when its cards were reportedly used in financial operations behind the assassination of Mahmoud al-Mabhouh, Hamas militant, in 2010.[10] Payoneer’s large presence in Israel fueled conjecture around potential conspiracy.[11][12] The incident compelled Payoneer and others in the prepaid card industry to review and improve security around the movement of funds through their systems.
See also
editExternal links
editReferences
edit- ^ http://www.payoneer.com/Press.aspx
- ^ http://www.payoneer.com/AboutUs.aspx
- ^ Schonfeld, Erick (2008-07-24). "Payoneer Raises $8 million Series B From Greylock And Carmel". TechCrunch. Retrieved 2011-02-28.
{{cite news}}: Cite has empty unknown parameter:|coauthors=(help) - ^ Chowdhry, Amit (2007-03-26). "Greylock Partners Leads $4 Million Series A Investment In Payoneer". Pulse2. Retrieved 2011-02-28.
{{cite news}}: Cite has empty unknown parameter:|coauthors=(help) - ^ "Avangate Pays Vendors and Affiliates Using the new Avangate Prepaid MasterCard Powered by Payoneer". PRWeb. 2009-01-15. Retrieved 2011-03-03.
- ^ Shifrin, Peter (2010-03-02). "Paying with Plastic: Camping Style". Camping Magazine. Retrieved 2011-02-28.
{{cite news}}: Cite has empty unknown parameter:|coauthors=(help) - ^ "oDesk Expands Provider Payment Options with Payoneer and the oDesk Debit MasterCard". oDesk. 2007-04-30. Retrieved 2011-02-28.
- ^ "New York Hospital Uses Prepaid Cards to Pay Study Participants". CenterWatch. 2010-03-23. Retrieved 2011-02-28.
- ^ Heet, LaRita (2009-09-29). "More employees say 'hello' to payroll cards". CreditCards.com. Retrieved 2011-02-28.
- ^ McGregor, S. (2010-02-24). "Dubai Police Release New Suspects in Hit Squad Killing". ABC News. Retrieved 2011-02-15.
{{cite news}}: Unknown parameter|coauthors=ignored (|author=suggested) (help) - ^ Murphy, Brian (2010-02-24). "Dubai police allege assassination team in Hamas commander's slaying used credit cards issued by Iowa bank". Gazette.com (SourceMedia). Retrieved 2011-02-15.
- ^ Abelson, Max (2010-03-09). "New York City's Assassination Connection". The New York Observer. Retrieved 2011-02-15.
Category:Electronic currencies Category:Payment systems Category:Electronic commerce Category:Credit cards