Payoneer is a financial services business that provides online money transfer and e-commerce paymentservices. 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

Payoneer was founded in 2005 with $2 million in seed funding from then-CEO Yuval Tal and other private investors. Israeli venture capitalist firm Greylock provided an additional $4 million in funding in 2007. It has also received funding from Carmel Ventures, Crossbar Capital, Ping An, Susquehanna Growth Equity and Nyca Partners. Payoneer cards were used by the suspects in the assassination of Mahmoud al-Mabhouh for planes and hotels in their operation in 2010. Payoneer board members include former Visa president Hans Morris and former SWIFT CEO Lazaro Campos. Companies using Payoneer include iStockphoto, Elance, Google,99designs, Welocalize, Fiverr, 123RF, Digital River, Quantium Solutions, uShip, and Airbnb.

Services

Payoneer provides cross-border wire transfers, online payments, and refillable debit card service for businesses and working professionals. Payoneer account holders have the option to receive funds into their local bank account or e-wallet, or via a re-loadable prepaid debit card, which is issued through MasterCard and can be used at ATMs or at the point-of-purchase. The cards have been used by New York Hospital to pay clinical trial participants. As of 2015, Payoneer is available for more than 100 currencies in 200 countries.

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