Payoneer, founded in April 2005, is a venture-backed private company that specializes in worldwide payment solutions and is a leading player in the global prepaid industry. The company has recorded 100% growth over the last four years.
Online payment transaction methods are going through something of a sea change and companies such as Payoneer are leading the way to a more secure marketplace with lower fees and few surcharges. The Payoneer method of transferring money and receiving payments is painless and soon evolves into a relationship asset as payees benefit from fast, safe and convenient access to their payments.
Payoneer facilitates international payments through websites and payroll transactions, enabling its 1,000+ clients to cost-effectively and efficiently pay suppliers, partners, affiliates, employees, freelancers and subcontractors in over 200 countries worldwide.
The success of Payoneer's payout solution was recently recognized with its inclusion in the Deloitte Technology Fast 500™ ranking of the fastest growing technology companies, including those in media, telecommunications, clean tech and life sciences, in North America. Its fantastic rate of growth is due to its success in growing business for its customers who are working in e-commerce and its well-experienced staff.
Payoneer users hold pre-paid debit MasterCard® cards that are administered by Payoneer and that can have the client’s name co-branded on the card. Payoneer does away with costly, labor-intensive manual payment systems, based on paperwork, international checks, bank transfers, mail and couriers. As a result, hundreds of thousands of payees, who may not have bank accounts of their own, can confidently expect to receive their salaries, fees, royalties, App Store payments, and commissions on time and in their own currency.
Payoneer clients and their payees can securely check their card balances and transactions online at any time. They can use their prepaid MasterCard worldwide, wherever the Debit MasterCard logo is shown, withdrawing cash at ATMs and paying for their purchases at points of sale around the world.
Payoneer also offers a local bank transfer service in over 55 countries, with the user choice the currency of origin or their own local one.
Payoneer has won a string of industry awards, such as Best in Category for its Payoneer Prepaid MasterCard in the Best Business/Corporate-funded Program in the B2E section of the PayBefore Awards 2010 at Prepaid USA Expo in Las Vegas.
As a key player, the company focuses on emerging mobile payment platforms and services and on the in-app billing marketplace in particular.
Payoneer has more than 100 employees. Its headquarters are in New York and its R&D offices in Tel Aviv. The company is funded by Greylock Partners, Carmel Ventures and Crossbar Capital.
Company president and board member Yuval Tal founded Payoneer. Israeli-born, Tal holds B.Sc. (Mechanical Engineering), M.Sc. (Biomedical Engineering) and MBA were all achieved in Tel Aviv. Prior to founding Payoneer, Tal had previous experience as an entrepreneur at E4X (now FiftyOne) and with Radware, which is a considerably larger business environment, where he was VP, Business Development.
As a leading player in the global apps market, Tal is often invited to speak at industry events, most recently at appsworld at Earls Court, London in early October 2012.He spoke about the Payoneer system for mass payouts as well as his views on the future of the industry. He also participated in panel discussions and worked on global projects with his fellow conference participants.
Payoneer’s clients include affiliate marketing networks, video and photography sites, Internet payment service processors and other companies that pay out to people on the Internet. Payoneer works closely with Choice Bank Limited and the First Covenant Bank, both of which issue Payoneer cards and process the Company’s transactions.