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Payoneer Inc
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Virtual payroll company Payoneer enables its partners to make international payments through a co-branded MasterCard® card. The more efficient method, which is quicker and less costly than mailing a check overseas, is frequently used by start-up affiliates and freelance employers ...
Virtual payroll company Payoneer enables its partners to make international payments through a co-branded MasterCard® card. The more efficient method, which is quicker and less costly than mailing a check overseas, is frequently used by start-up affiliates and freelance employers. The privately held company was founded in 2005.
Once a Payoneer partner issues a payment to its end-user, he can use the MasterCard® card just like he would any other credit card, making purchases at registers or withdrawals at ATM machines. End users keep track of their account on the Payoneer website. The company is in partnership with over 1,000 companies that represent a variety of industries; these include oDesk, iStockphoto, and Buy.at. While the company traditionally facilitates payments in USD, it recently announced the impending launch of its Local Bank Transfer Service, which will pay end users in their own currency, sparing the need for the foreign exchange component of the MasterCard® card transaction, saving time and money.
Payoneer attended the May 2011 Revenue Seminar, located in Ramat-Gan, Israel. The event, a leading conference for Internet marketers, allowed Payoneer to introduce its service to its target audience. The Revenue Seminar, which fosters the sharing of ideas and networking, features high-caliber speakers with insight on the latest industry developments.
Payoneer founder Yuval Tal is a 20-year veteran in the online technology industry, co-founding E4X (now FiftyOne), one of the first international online payment start-ups. He completed his higher education at Tel Aviv University, where he earned a Bachelor's degree in mechanical engineering, a Master's degree in biomedical engineering, and an MBA.
Headquartered in New York, Payoneer also has research and development offices in Israel. The company is a registered MasterCard® Merchant Service Provider (MSP) and Choice Bank Limited and First Covenant Bank are its issuing banks. Carmel Ventures, Crossbar Capital, and Greylock Partners are among Payoneer's financiers.
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Once a Payoneer partner issues a payment to its end-user, he can use the MasterCard® card just like he would any other credit card, making purchases at registers or withdrawals at ATM machines. End users keep track of their account on the Payoneer website. The company is in partnership with over 1,000 companies that represent a variety of industries; these include oDesk, iStockphoto, and Buy.at. While the company traditionally facilitates payments in USD, it recently announced the impending launch of its Local Bank Transfer Service, which will pay end users in their own currency, sparing the need for the foreign exchange component of the MasterCard® card transaction, saving time and money.
Payoneer attended the May 2011 Revenue Seminar, located in Ramat-Gan, Israel. The event, a leading conference for Internet marketers, allowed Payoneer to introduce its service to its target audience. The Revenue Seminar, which fosters the sharing of ideas and networking, features high-caliber speakers with insight on the latest industry developments.
Payoneer founder Yuval Tal is a 20-year veteran in the online technology industry, co-founding E4X (now FiftyOne), one of the first international online payment start-ups. He completed his higher education at Tel Aviv University, where he earned a Bachelor's degree in mechanical engineering, a Master's degree in biomedical engineering, and an MBA.
Headquartered in New York, Payoneer also has research and development offices in Israel. The company is a registered MasterCard® Merchant Service Provider (MSP) and Choice Bank Limited and First Covenant Bank are its issuing banks. Carmel Ventures, Crossbar Capital, and Greylock Partners are among Payoneer's financiers.
June 23, 2011
