Payoneer is a financial services company that provides online money transfer and digital payment services.
Payoneer 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.
Payoneer was founded in 2005 by Ben Yaniv Chechik & Yuval Tal based out of NY, NY. The company has their US offices in NY & Palo Alto. The company opened offices in the Philippines and Japan in 2016.
Since 2005, Payoneer has provided companies with multiple ways to transfer payments, including prepaid debit MasterCard® cards, deposits to local banks worldwide and payments to local e-wallets.
Payoneer has 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, citing potential opportunities from Brexit as a reason for this expansion.
Payoneer has roughly four million users in more than 200 countries and territories, and provides cross-border transactions in more than 150 local currencies utilizing its banking network around the world to make local bank transfers.
In March 2016, Payoneer acquired internet escrow company Armor Payments to address the market for B2B transactions between US$500 and $1,000,000, where credit cards and Letters of Credit are not suitable.