Payoneer is a financial services company that provides online money transfer and digital payment services. Account holders can send and receive funds into their bank account, Payoneer e-wallet, or onto a re-loadable prepaid MasterCard debit card that can be used online or at points-of-sale. The company specializes in facilitating cross-border B2B payments. It provides cross-border transactions in more than 150 local currencies, utilizing its banking network around the world to make local bank transfers.
Companies like Airbnb, Amazon, Google and Upwork use Payoneer to send mass payouts around the world. It is also used by eCommerce marketplaces, and works with ad networks to connect these firms with publishers based outside of their headquartered country. .
In the content creation space, Payoneer works with a variety of companies and freelance marketplaces . The company is headquartered in New York City.
Video Payoneer
History
Payoneer was founded in 2005 with $2 million in seed funding from then-CEO Yuval Tal an ex-officer in the Israeli army, with other private investors. 83North (Greylock Israel) led an additional $4 million in funding in 2007, with additional investors including Carmel Ventures, Crossbar Capital, Ping An, Wellington Management, Susquehanna Growth Equity and Nyca Partners.
In March 2016, the firm acquired internet escrow company Armor Payments. aiming to address the market for B2B transactions between US$500 and $1,000,000, where credit cards and Letters of Credit are not suitable. It also began working with the Latin American eCommerce site Linio,
In August 2016, the firm added an automated tax form service to its mass payout offering.
In October 2016, the company raised $180 million from Technology Crossover Ventures, bringing the total funding to $234 million. The firm left the Indian market because of regulatory issues in 2011, but returned in 2016, with special reporting systems and fund-transfer limits that comply with local rule, and partnering with IndusInd Bankls.
Payoneer opened offices in the Philippines and Japan in 2016. It partnered with the Japanese based e-commerce giant Rakuten in a deal aimed at opening up their US site, Rakuten.com, to vendors outside the USA. They also partnered with the Korean online B2B marketplace EC21. In 2017 the company released an Integrated Payments API for SaaS providers to link cross-border B2B payments across cloud platforms. In June 2017, the company opened an office in London.
Maps Payoneer
References
External links
- Official website
Source of the article : Wikipedia