|Type||Online Payment, International Money Transfer and Prepaid Debit Cards|
|Founded||New York, NY USA (2005)|
|Headquarters||New York, NY USA|
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.
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. It has also received funding from Carmel Ventures, and Crossbar Capital. iStockphoto began using the service in 2007 in order to provide royalty payments to contributing artists. Payoneer cards were used by the suspects in the assassination of Mahmoud al-Mabhouh for planes and hotels in their operation in 2010.
Payoneer is an alternative to Paypal, wire transfer services and online payments that provides users with refillable debit cards. The cards are issued through Mastercard and can be used at ATMs or at the point-of-purchase. It is often used to provide payments to "remote, dispersed populations."
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