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Payoneer is a US based financial service company that offers money transfer to and from internet. The company headquarters is in New York, USA. Payoneer is competitor of PayPal. Payoneer offers a method to pay their members by way of prepaid debit cards. These cards can be used as normal debit cards for payments and withdrawal of money. PayPal is not so perfect at offering services for international transaction as it requires associated bank account to transfer money whereas Payoneer is suitable for money transfers to recipients who are residing outside the US. Payoneer offers its customers a retention tool for branding in the form of co-branded MasterCard. Some of the co-branded master cards are iStockphoto, oDesk and metacafe.
Payoneer account is created by signing up in the company’s website by entering personal details and a valid e-mail id. The Company has 2 million customers all over the world. Payoneer has introduced Account- to – Account transfer. It is very fast and instant service available at free of cost. The funds are transferred within 2 hours after the transfer of fund is initiated. Payoneer is very flexible enough for money withdrawals. They can be easily withdrawn to local bank account and also withdrawal can be done with conversion of other foreign currencies into local currency. This service is available in 80 countries. Withdrawal of money incurs some fees.
Payoneer also has its own prepaid card namely Payoneer Prepaid master Card. Professionals and small businesses benefit from these card which helps them to receive instant payment from the customers within few minutes. This card has global coverage as it can able to work in more than 200 countries and many currencies. This method of payment is more safe and secure as it hides all the financial details of customer’s account. Prepaid cards cannot be used without available balance and so there is no fee charged for overdraft problem. This card enables the customer to make purchases in online as well as in retail shop outlets likewise using their MasterCard. The customer support of the Payoneer Company is multilingual and can be contacted through phone, e-mail and live chat. This company also supports global bank transfer through wire transfers or local bank transfers and through US ACH to transfer money internationally. It is very faster and cheaper when compared to other bank transfers and money transfers via wire.
Payoneer directly deals with banks for money transfer, making the people more convenient and comfortable to use this service. Payoneer has introduced flexible payment to Payoneer account via Payoneer’s Credit card loading service. The customers must check whether their credit card is eligible for availing this service. Payoneer is supporting millions of businesses by providing flexible and flawless cross- border payments. Payoneer also offers instant payments for Freelancers across the world by providing payment solution to freelance marketplaces like Elance, Freelancers and oDesk. Payoneer also offers much type of payout methods for travellers who travel around the world. It is easy to send mass payouts to host in local currency of the country to which he travels.