e-Review · January 15, 2021 0

Payoneer review: All you need to know to trust


Payoneer was founded in 2005 with $2 million in seed funding from founder and then-CEO Yuval Tal and 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. Since 2005 Payoneer has raised over $265 million from investors.

You know :

Payoneer is an online payment provider that allows you to send and receive payments to and from  businesses and marketplaces in various countries around the world. Payoneer is intended only for business payments, receipts and currency conversion. Therefore, Payoneer’s services are slightly differently to a standard currency exchange provider in terms of how their currency exchange service functions, depending on the status of your and the beneficiary’s Payoneer accounts. Services are aimed at business owners, professionals, freelancers and product / service marketplaces. They provide direct payment solutions, currency conversions, integrations and ways for businesses and marketplaces to pay employees, contractors and others. Their services are not intended for personal use.

Some of the marketplaces they work with include Amazon, Fiverr, Airbnb, Upwork and more. They work across a variety of industries including eCommerce, advertising, stock photography, freelancing and rentals. Payoneer is a large and successful business with over 4 million users, availability in 200 countries and allows for payments in 150 currencies.

Is payoneer safe and legit?

Is Your Money Safe? Payoneer is a legit, fully regulated US company registered as a US Money Service Business (MSB). They have also been in operation since 2005, and are certified at a PCI Level 1 Data Security Standard which means they need to uphold a high standard of security on their network and systems.

Is Payoneer account free?

Pay suppliers, contractors and other business partners directly from your earnings. Pay your suppliers and contractors with the funds you earn from clients and marketplaces and remove unnecessary fees and hassle. Pay anyone you like from your Payoneer balance and if they’re also a Payoneer customer, it’s free!

Do I Need a Bank Account for Payoneer?

A quick answer to this question is Yes. You do need to have a bank account in order to be able to sign up for Payoneer. … And it’s that you need to register for Payoneer through any company or marketplace such as Fiverr, UpWork, etc

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