How, exactly, is this going to speed up vendor receipt of payments? Are funds going to be posted to this card as orders come in, thereby eliminating “payment cycles”? What are the fees going to be with this thing? How long will it take to get the card? Is Payoneer associated - in any way - with the evil NetSpend Corporation?

This souns a great option. How about the fee and other details?

Where do I apply?

Pricing is here http://www.payoneer.com/Pricing.aspx

Great!!, Where do I apply?

In what countries is this service going to be available?

Thank you for the introduction, Geno. We are very excited to partner with 2Checkout to offer vendors a new way to get paid.

On July 11th, vendors will be able to order the card through a 2CO/Payoneer site. It will provide clear and easy steps for registration, and additional relevant information regarding the card and loading of 2CO payments. We will then ship the card to you, wherever you are.

The card is available to all 2CO vendors. It can also be used anywhere MasterCard is accepted around the world.

To answer Keith’s question – we are not associated with Netpay whatsoever.

We will continue posting here answers to any question that you may have. You are also welcome to contact us directly at support@payoneer.com for additional information.

Talia
Payoneer

I used to use a system like that(Visa debit). At first, it was very good but later, it limits the senders to three. So, if I want to receive money from other new customers, there is no way to do so. And I gave up and switch to use 2checkout.com until now.

So, we are actually talking about a longer wait period to get funds ( the normal payment circle, then two-four days). So, instead of getting my wire on Thursday, it would have to wait for 4 more day. It that correct?

What is the $12500 limit? Is that the total amount we can receive in the card a month?

How can we sign up? I can’t find any option on 2co. Also payoneer.com is not loading.

The Payoneeer card payment option for vendors is a great option for international vendors.

But one thing, I would like to know

Will be there any monthly card maintenance fee, if a vendor have no transactions need from his site for whole month?

please reply back, thanks!

mhsnali, that is exactly what I wanted to ask.

Why is there “Monthly account maintenance” ? what if someone doesn’t have any selling in 2 months still needs to pay maintenace? or maybe doesn’t want to take cash from ATM in 2 months, and still needs to pay maintenance when nothing was done through this account.

Is there a monthly interest charge as well?

payooner.com is now working and I’m reading stuff there and I don’t like it, for example: http://payoneer.com/Faq.aspx#12

If you don’t use account for 60 days, they will CLOSE IT ! it doesn’t matter if your card validation is for next couple of years, they will CLOSE your account.

Dear Talia:

Who pay the Loading fees? The vendor, or 2checkout.com?
What is a “Declined ATM Withdrawal “?
Thank you.

Dadly ,
Regarding the close account issue. A card with zero balance for more than 60 consecutive days is considered ‘closed’ for security reasons. As soon as funds are loaded onto the card, the status automatically changes to active. There is no additional validation required and there is no real effect on cardholders.

Talia
Payoneer

I’m Supplier from Vietnam. Could i receive and use that card and it services in my my country? Thanks!

pureaznangle -

Any vendor that’s signed up with 2CO can receive the card. You can use the card in Vietnam at any store that accepts MasterCard and at ATMs to get cash.

Talia
Payoneer

Labcor -

The loading of 2CO payments to you is $2.00. The declined ATM withdraw could happen if someone attempts to withdraw more money than they have on the card. In that case, the withdraw cannot go through.

Mhsnali/ aglingerie –

The monthly maintenance listed is the only charge. There are no additional ‘interest charges’. The monthly fee is also only taken out of existing balance on the card.

If you have any additional questions, please don’t hesitate to contact us directly support@payoneer.com

Talia
Payoneer

This sounds good, I want one. Can I pre-order card or I have to wait for 11 July to place an order ?

Ok.
If I understand well, in a monthly basis payment, you have:

In one hand: $ 4 using check payment.

In the other hand: 4 weeks with $2 each (load cost), plus $3 (monthly account maintenance), plus $ 1.35 (US ATM withdrawal - Outside US ATM withdrawal = $ 2.15)
Total: $ 12.35 !! 208.75 % !!

Well, its a big difference if you receive your payment by check.

Hi Talia! May i ask you a question. As i’m an vendor of 2CO now. So how could i receive the card once the program get started. Will i cost the money to get the card in my hand. (paid for the shipping fee. etc..)

I just want to warn 2co users about this payooner, this company located in Israel and their website hosted in Israel, not USA and they use some scam called Virtula Office Services to get an address in USA .. when it come to money and credit cards its VERY danger to deal with company with “virtual” address which can disappear in seconds and no one can do anything for that.

Hey 2mhost: From what I can see you are not from the US too. Are you saying having a physical US office makes a business more reliable?

I bet you’re wrong. Paysystems ran away with $7200 of our money. and they are a US company in all respects.

averagejoea:

Problem not where is you located, problem when you try to HIDE your location, the “Hiding” .. to show something is not real to gain “trust” thats you do not deserve

Its big, stable, bla bla… company, OK .. why use virtual office address to show they are in USA? why not show the real address in Tel Aviv?

someone tell me what the problem please?

Payoneer is a registered MSP with MasterCard Worldwide, an approved partner of Royal Bank of Scotland and First Bank of Delaware, and are backed by a leading west cost venture capital firm named Greylock Partners.
We are headquartered in Columbus Circle NY, and indeed maintain an R&D center in Israel.

Payoneer currently service over 60 corporations and we are looking forward to the July 11th launch for 2Chekcout vendors.

Talia
Payoneer

ok Talia, .. go and google your address in NY .. the 15th floor in 410 Park Avenue is used by other 910 large companies

http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=GGLG,GGLG:2007-05,GGLG:en&q=%22410+Park+Avenue+%2d+15th+Floor%22

You are great company, trustworthy and all good things in Delaware..
I choose not to deal with payoneer for myself and that’s all.

thanks 2co blog’s admin for your patient

I consider that Payoneer can be very useful for merchants non residents in USA. At least to my it solves me several problems.
How long will we wait among that we apply to the new system with Payoneer ( July 11th ) and that will be working ( considering the distribution of the card to a country like Argentina ? )

Hector

I use a Virtual address to. But i dont hide my real address. I was to get that card. But i agree with 2mhost. Why should you hide the address. I guess its because like me there are other people that will not trust their money to a Israel based company. Thats my personal choice, i deal with Israel companies like Iconnecthere all the time, but to trust them my money is another thing. They dont even have extradition treaty with other countries. You cannot claim anything to a Israel company, it doesn’t matter if they vanishes with all your money, the laws protect them just like tons of fraudsters went to Israel so they cannot be prosecuted in their local countries. I dont say this service should be bad in anyway but you should think twice before putting your money there since the laws protect them and not foreigns. Its not exactly a finance paradise. Also to get a Debit Mastercard is very easy if you have the money.

I don’t agree with nibb. Their simplistic analysis finishes building a lying reality full of racist prejudices
I didn’t register in this forum to read this type of offensive stupidities

Dear Talia I have one question.
Once we apply and receive a Payoneer master card, are we still going to have the option to change our payment style, say weekly? What I mean is, sometime, can we turn the credit card payment off and can we still accept wireless payments if we’d like to?
Or once we select the credit card option mean we have to be paid only that way? Because it would be very nice if we can alter our options anytime we need to.

hreitmann;
Nobody asked or forced you to register. Also you don’t have to agree with me. Thats your decision, thats why this is called a comment. Its called Free choice. I have my own mind and that are my comments. Also what has to do my comments with racist prejudices? You are the racist that shows such a childish comment when you dont like something. Nobody asked you to agree with me or nobody. If you can proof i lie please do, if you fill offended then i cannot help you. Every word i said its true and like other users posted they do hide their business. And its also true what i said about Israel laws. Please proof if im wrong because everybody knows when i say its not a legal paradise! Payonner card could be maybe a great company but its my choice if i dont want to deal with a company that is based on a land that has 0 guaranties. Its my money in the end. And even if i would be racist, that would be still my problem, with me and good so im not offended by that remark in anyway.

Julie
what I don’t want when applying to payoneer is to interrupt the flow of weekly deposits just as it is today.
Cards shipped to others countries may be lost and in that case the flow of money could be interrupted until an uncertain date.
Can I apply to Payoneer and when I recive the card and activate it, select to Payoneer as a default payment system ?
If it is possible, the flow of weekly deposits would not be interrupted when a delay or lost of the card happens.

can you be more specific about registration for payoneer master card. Someone of the stuff wrote in some earlier post that all 2co registered vendors can apply for this card and mentioned something about 2c0/payoneer web site for registration purposes. Can you give us an URL for this page ?

I tried to apply for this card from www.payoneer.com but on country list is only USA and in faq section of tha peyoneer site, I read that only people with mailing address in USA can apply for the card. So how can we apply for this after July 11 that is actualy tomorow ?

Can someone explain this please.

I second hreitmann in what he said. We all depend on our weekly income to run business. The card can take up to three or four weeks in processing and mailing; never mind the possibility of getting lost in the post as well. Such delay will be intolerable for most sellers who’s first source of funding is 2CO funds. 2CO can deduct the $10 fee or whatever fees required to issue the card from our funds (if the seller wants one of course) and allow us to sign up for the card “WITHOUT putting any funds in it at this stage” even if they deduct $40 or $50 and send the card loaded with it. This way we receive the card, activate it and even try it locally without the risk of an ATM “eating it” as it says on Payoneer website. Once the seller is happy with it he can change the payment method to use the card. I would surly use this service if it was done in the right way that takes into consideration that our weekly pay is usually our main source of income. Please 2CO read this and consider it.

A word of warning for the new vendors: It’s not the first time 2CO offers an ATM card. There was a card called Intercash, it was tied with the account in the Bank of Alabama, USA. It worked for about one year or less, after that it stopped to work and all bank accounts were closed (because of the Patriot Act or because the activity of Intercash company was illegal).

This time 2CO offers a “prepaid” card from a similar (unknown) company. It may work for now, but who knows when it’ll stop to work…

> MasterCard debit card — this is not a product outside of the usual banking channels

A normal debit card always means a REAL bank account in a real bank. These Payoneer cards (as far as I understand) have nothing to do with the normal banking…

There’re a lot of companies offering so called prepaid card, most of these companies have East European, Baltic (Latvia, Lithuania), Middle East(in this particular case - Israel) or simply offshore roots, even if they’re supposedly located in Canada/USA. And all they stop to work sooner or later, so this card is a temporary and not 100% safe solution… IMHO

Payoneer’s product is a Prepaid debit card, which does not need a bank account, because the monies are loaded upfront, before one can use a card. This type of card was introduced many years ago, but, has only recently seen adoption in the last few years.

We are a US based company and backed by US based First Bank of Delaware. (www.fbdel.com)

Our technical department is in Israel, thus the Israeli address.

We are also a MasterCard certified Member Service Provider, which is extremely hard to come by without passing all required due diligence for US regulations and Anti Money Laundering and Patriot Act USA
compliance.

Talia
Payoneer

> Payoneer’s product is a Prepaid debit card, which does not need a bank account

That’s what I’m talking about. It’s not a normal bank card, it’s just a “wallet” suitable only for the funds withdrawal from 2CO and (manually?) loaded by Payoneer’s staff (from their corporate US bank account?) with a four day delay (remotely from Israel? :)).

IMO, the only reason to use this slow, expensive and unsafe plastic wallet instead of normal bank card is a privacy (tax evasion? :)).

That’s my opinion (i’m not against this payment solution but it looks like “Intercash II”, because Payoneer is just a middleman and depends on his bank).

MAGIA
www.qesign.com

Hi,

I’m in Belgium, I accept USD from the customers. I want to have Payoneer Card in USD. Is that possible, or 2CO/Payoneer will covert the USD amount into EURO?

Thanks,
Nathalie

I have the same question as srlemo, which wasn’t answered yet. Can you please be more specific about registration process? How can I choose another country in the registration form, it gives only one option - USA? Is there any special link for 2CO vendors for registration? Thank you.

I tried to apply as well, BUT only US address can register. I tried to look for a link non-us, but cannot find it. Anyone have any ideea?

I went through the registration process and it is working well. You should be able to order a card from any country worldwide. Make sure you are logged on to your account under 2checkout website in order to register for a card. On the registration form you will find a list with all the countries we are shipping cards to.

If you experience any problems going through this process, please contact me directly at sivank@payoneer.com.

Sivan
Payoneer

Re: send cards International address

we are 2CO members almost 2 years and decide to try the Payoneer
for our use in Hong Kong. we are a Hong Kong corporation.

however, we prefer faster and more dependable delivery than “mail”,
it is not safe, dependable or fast.

-how much for Express Mail or FedEx to Hong Kong and China?
-what is the procedure to order the extra service?

Thanks, Chinacom Corporation, Ltd.

Re: International Express

also, i should explain, Express Mail (EMS) is also not so good
because it cannot be tracked aftern leacving the U.S. to other
countries.

please offer service, instruction, and prices for FedEx, UPS,
or DHL options.

Thanks, Chinacom Corporation, Ltd.

We send the cards using first class international mail, which depends on local mail services in each country. Therefore in some countries it can be very fast, while in others it can be slower.

We also offer to ship the card by FedEx International Economy, International First or International Priority. If you wish to receive your card by FedEx, please contact our support right after you complete the sign up for the card. You can reach our support by email at support@payoneer.com or use our live assistant on our website at www.payoneer.com. Our customer support will give you the prices for the service you select.

Sivan
Payoneer

You say there is a $3 monthly account fee deducted from available balance. What happens if the card is not used for 60 days and the balance is 0. After 60 days $1,000 is added. Has your account gone into the negative by $6 so you only have $994 in your account? or do you suddenly deduct the $6 owing so that you still have only $994. Or is the time when the card balance was 0 and the card not used ignored so you have the full 1,000?
Chris Heaton

well its a nice service i guess but here in Asia esp in India the banks are offering credit card and debit card for no charges at all, than why would i get one of them and pay $3 every month and the initial charges.

Hi Talia and Payoneer,

I’m from Europe I have been using some hours now to read all the posts in both Payoneer blogs.

I have been reading your conversation with Tom closely and trying to find out exact what the fees are. I’m not able to find the exact fees anywhere since 2CO started posting the wrong fees and you keep referring to your and 2CO signup page, I can’t find that or the fees/rates for using this service.

There for I want you and/or 2CO to list the exact fees here, so everyone can see what it cost.

Beside that I want to know what the 3% conversion fee is. You say:
“The conversion fee varies on a daily basis, so when comparing equivalent services offered for currency conversion by other institutions, the rate is quite competitive. The percent charged varies, but, will never be more than 3%.”

When do I pay this fee? If I order over the internet or go to a shop and pay like 5.500DDK ($1000) for something, will I then have to pay 3% conversion fee since this is in DDK (Danish krones). Means That I actually pay $1000 + $30 = $1030

Or is this only if I go to an ATM and withdrawal in DDK? Please explain.

Best regards
Gerner

Chris,

The monthly fee is deducted from available balance only, at a given date. As you put it, if the card has 0 balance we ignore it. We do not ‘look back’ and collect on previous months and you cannot ‘owe’ monthly fee.

Talia
Payoneer

buddha,

The prepaid debit cards are especially targeted for you to receive your 2CO payments. Each week, your payments will be loaded directly onto the 2CO MasterCard with no need for a bank account. This is a new payment method introduced to significantly cut costs of other payment methods while still offering you the most flexibility and convenience.

I hope this clears the advantage of the card as payment method.

Sivan
Payoneer

gerner,

The most updated pricing and fees are listed in the dedicated 2CO/Payoneer registration page. You can access this page through your 2CO account under your banking wizard.
Until the end of 2007, we are offering a special promotion provided to you in partnership with 2CO.

In regards to the conversion fee: the conversion rate does in fact vary on a daily basis. It is computed at the time that the transaction occurs, when the transaction is outside of the US, whether at POS or at ATM.
If you have any specific questions, our support will be more than happy to address them. You can contact our support at support@payoneer.com or use our live assistance at www.payoneer.com

Sivan
Payoneer

Well.. I thought I would add my 2c.

We applied for a Payoneer Card the day they were announced and the first card they sent went missing in the post. Not a great start! It took about a month for me to convince them that it must have gone missing before they would send out another, despite the service being very courteous it certainly was not geared to getting me a card any time soon!

They were kind enough to mail out a second, but each time kept quoting that mail can take up to 20 odd days to get to anywhere… I don’t know where a company gets these figures from but even though we are in Thailand standard mail that we send and receive takes 4 or 5 days to anywhere in the world.

At that time I mused that perhaps this is a scam to get you to pay the ’speedy’ delivery fee, but then dismissed that as unfair / uncharitable. But do please read on as you may see a pattern at the end off this post.

I am not too concerned about the ATM charges and so on and so forth. These are all pretty standard for pre-paid cards, and also even for ‘real’ credit cards.

On Thursday our payment showed as processed as normal by 2Checkout.com and I waited with interest to see how long it would take to appear on our card.

This morning I was pleasantly surprised to see an email from Payoneer announcing funds. At that point the card was actually getting loaded quicker than the very fast Wire Transfer we receive from 2Checkout.com normally. Almost overnight in fact! And that is how it should be in this day and age.

However, there is a sting in the tail..
I noticed that I had to click a link in the email to ‘confirm details’.
Immediately my ‘I am being scammed’ radar went off.
True enough I could choose to either pay the promised US$2 loading fee and have my funds in about 4 days, or the normal US$5 fee and have my funds within 2 hours! Woweewowow! (To quote Borat!)
If they have the funds from 2Checkout.com within 24 hours how can they possibly justify a US$3 premium on the loading fee as being necessary to get the funds on your card 4 days quicker!

Of course I paid the US$5 fee, and the card was credited almost immidiately, and it’s pocket change at the end of the day, but when a company employs this kind of tactic to make a few bucks then you can be sure that the whole service is going to be cheap.

I’ll use the funds I have put on the card this time and see how it goes.. and also report back here with any ATM / online / store niggles.

But I don’t think I will be using this card again simply because I don’t like being shilled for a few dollars.

talia,

You have stressed in more than once here that Payoneer is a “US based company”. Hope you can answer these 2 questions for all of us here:
1) If Payoneer is a US based company, why does it have a Virtual Office address? What is the real address of Payoneer?
2) Why does a company like Payoneer, whom people will entrust their money, does not even BBB accredited?

Whereas 2CheckOut has a tie up with Payoneer to facilitate payments to vendors. But 2Checkout is responsible until payment is transferred to the Payoneer debit card.
If Payoneer vanishes in thin air, the Manhatten Virtual office manhattan-office.com will only say that they are like a normal client of theirs who took up a Virtual Office address like many others.

All 2CO members should be VERY careful with payoneer. Here’s what happened in my example:

A client of mine sent $40 directly to my payoneer card. Month after that, he forgot about it and claimed it may be possible fraud.

Payoneer blocked my account WITHOUT A WORD TO INFORM ME WHAT’S UP. I contacted them, they replied after 2 days:

“Our security department has decided to block your account. The remaining balance has been used to cover the costs of the fraudulent payments.”

I chat with them and finally they told me why they blocked me. They promised they will unblock if my client calls him. That’s ok but isn’t it easier to contact me first and try to solve the problem?

I had only about $100 on payoneer card. And what if I had $100.000 and client who claimed me by mistake is not reachable anymore? Will they use all my money to cover the “the fraudulent payments”. I am not sure, but it’s possible. His representative didn’t answer me that question.

So, be careful. Be VERY careful. Don’t use Payoneer for big money.

joomlaline, the situation you describe is an example to the high level of security and protection we keep at Payoneer. Your client loaded privately money into your card and later charged it back. This is the most typical situation that raises a fraud flag on our end. Facing this we block the card immediately until further investigation. We have no way to know that this is a false report of fraud unless your client contacts us and cancel the charge back request.

Although an inconvenience occurred to you, and I am sorry for this, you should be comfortable knowing that we are highly alert to any illegitimate activity.

I hope that clarifies the situation and we are here if you have any questions.
Allan

Instead of sending this email:

“Your card is blocked. We took all your money. Good bye!”

…your company should send email like this:

“Mister X who loaded money for you asked for chargeback. Therefore, we blocked your account temporary. Please contact Mister X directly to resolve the situation.”

Don’t you think so?

I wanted to mention that my first impression with payoneer card is very good. I had doubts whether I’m going to use it or not but I wanted to give it a shot as bearing international wire fees are pretty hard on me. I applied for the card and after long wait (I guess it took 3-4 weeks), I’ve received it. Activated on their site online and send some money from my 2checkout.com account (BTW. 2checkout should really allow us to send any amount we want to the card or wires instead of forcing sending entire account amount but well this is another story). Then I go to an ATM and tried to withdraw money. And I got it without problems! It really works as promised.

Before using the card I asked payoneer staff whether there are any “other fees” related to ATM withdrawel (other than announced payoneer fee) and they said ATM owner can cut a commission. So I was worried to see how much this commission would be with my withdrawal. I don’t know whether I’m just plain lucky but in this withdrawal I didn’t pay any commissions to ATM owner. The only cut was the payoneer’s 2.xx international ATM withdrawal fee. If this goes this way, I can say that I’ll be very happy with this card. But if I have to pay a large commission next time, I can always complain. Well maybe this wouldn’t be payoneer’s fault but still just an incident can render the card useless for me.