Since 2005, Payoneer has provided MasterCard® cards to its affiliates users as a timelier and less costly international and electronic payment method. The company annually processes $500 million in transactions for its 1,000 400+ affiliatespartners, which include stock photography sites, game developers and web-based merchants. ODesk, a freelance marketplace, MediaWhiz, an online advertising provider, and marketing company TripleClicks are among Payoneer's affiliates. Merchants and ATM machines accept Payoneer's MasterCard® as any other credit cards are accepted.
Payoneer, which is based in New York and employs 100 workers, is joined by an Israel-based research and development office. The company abides by Anti-Money Laundering, Office of Foreign Assets, Know Your Customer, and Bank Secrecy Act regulations. Payoneer's financial partners include Crossbar Capital, Carmel Ventures and Greylock Partners and its MasterCard® cards' transactions are facilitated by Choice Bank Limited and First Covenant Bank.
Following college, Yuval Tal was vice president of business development for RADWARE, an app distribution service that helps businesses maximize their profits, and CEO of the comparison shopping site R-U-Sure Ltd. Before Payoneer, he was best known as co-founder and CEO of E4X, now FiftyOne. The company helps United States merchants process electronic payments to 90 countries via services and technology platforms. Founded in 1999, it was one of the first businesses of its kind under Yuval Tal's direction.