Payoneer

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Payoneer
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. Payoneer is a registered Member Service Provider (MSP) of MasterCard worldwide. The Company is headquartered in New York City with R&D offices in Tel Aviv, Israel.

History[edit]

Payoneer was founded in 2005 with $2 million in seed funding from CEO Yuval Tal and other private investors. An Israeli venture capitalist firm Greylock provided an additional $4 million in funding in 2007.[1] It has also received funding from Carmel Ventures, and Crossbar Capital.[2][3] iStockphoto began using the service in 2007 in order to provide royalty payments to contributing artists.[2] Payoneer cards were used by the suspects in the assassination of Mahmoud al-Mabhouh for planes and hotels in their operation in 2010.[4][5]

Services[edit]

Payoneer is an alternative to Paypal, wire transfer services and online payments that provides users with refillable debit cards.[6] The cards are issued through Mastercard and can be used at ATMs or at the point-of-purchase.[7] It is often used to provide payments to "remote, dispersed populations."[8]

References[edit]

  1. ^ Carthy, Roi (October 22, 2007). "Payoneer Collects $3M from Greylock, Signs-Up iStockphoto". TechCrunch. Retrieved March 29, 2014. 
  2. ^ a b Schonfeld, Erick (2008-07-24). "Payoneer Raises $8 million Series B From Greylock And Carmel". TechCrunch. Retrieved 2011-02-28. 
  3. ^ Chowdhry, Amit (2007-03-26). "Greylock Partners Leads $4 Million Series A Investment In Payoneer". Pulse2. Retrieved 2011-02-28. 
  4. ^ Abelson, Max (2010-03-09). "New York City's Assassination Connection". The New York Observer. Retrieved 2011-02-15. 
  5. ^ "An Eye for an Eye: The Anatomy of Mossad’s Dubai Operation". Spiegel. January 19, 2010. Retrieved March 29, 2014. 
  6. ^ Germain, Jack (January 16, 2008). "Payoneer: Taking Prepaid Debit Cards to the Next Level". E-Commerce Time. Retrieved March 29, 2014. 
  7. ^ "X-mas GPS, Plastic Wages, Video Antivirus". Associated Press. November 14, 2007. Retrieved March 29, 2014. 
  8. ^ "New York Hospital Uses Prepaid Cards to Pay Study Participants". CenterWatch. 2010-03-23. Retrieved 2011-02-28. 

External links[edit]