Company Information and Credibility
Payoneer was founded in 2005 by Yuval Tal, who was the CEO at the time as well as the lead investor. Mr. Tal is a prominent Fintech entrepreneur, and prior to Payoneer, he founded E4X, one of the first startups in the online payments domain, which was later re-branded as BorderFree, and was acquired for a staggering sum of USD 380m by Pitney Bowes Inc in 2015.
Since its inception, Payoneer has been receiving serious attention from leading investment firms across the globe, and raised more than USD 245m* up to date, from companies like Ping An – a leading Chinese insurer which employees 200,000 people across the globe and generates more than $60bn in revenue each year.
Using these investments, the company has grown to become a leader in cross-border payments, boasting more than 10 global offices and employing 1,100 people (many of which deal with the complex compliance / legal aspect of the business). It is moving abroad billions of dollars each year, and serving more than 5m registered clients.
*Raised $245 Million – CBC, TCV, Greylock, Carmel, Susquehanna Growth Equity, Ping An, NYCA & Wellington Management
2021 update – Payoneer is going on the stock market (NASDAQ) with a valuation of more than $3bn establishing itself as a payments leader.
MSB/MTLs US+Canada, E-Money Europe, MSO Hong Kong, FTSP Japan, OPGSP India, as well as Liaison offices in China and Philippines
The Payoneer Prepaid MasterCard card is issued by Choice Bank Limited, which is supervised by the main bank of Belize. It is handled by Payoneer’s partner Wire Card Solutions which is authorised by the Financial Conduction Authority (UK) as an e-money transmitter.
Awards and Media Recognition:
Payoneer has won some of the most lucrative awards in the payment business, including
- ? EY Entrepreneur of the Year Award 2016 – For Scott Galit (CEO)
- ? B2B Innovation Award 2016 – PYMNTS Innovation Project
- ? Deloitte’s Fast 500 (Fastest Growing Companies) – 2015
- ? CNBC 2018 Disruptor 50 List – #13
… and many more (smaller) industry awards.
Payoneer is constantly featured on mainstream media and Fintech conferences, as well as specialist payments / commerce magazines. Major publication include: The NY Times, Fox News, Tech Crunch, Forbes, Wall Street Journal, Inc. Magazine, Fortune Magazine, Wires, the Daily Star and many more.
Considering the information provided in this section, its stringent regulation, as well as the fact that Payoneer’s board include some of the heaviest hitters in the business, like SWIFT’s former CEO, it is safe to assume that Payoneer is not only safe, sound, and secure but is in fact one of the largest payment providers in the world.