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With booming Internet access and major improvements to collaborative work tools, employers around the world are finding it much easier to outsource work than it used to be a few years back. However, payment, particularly for firms whose workers live in many different countries, remains a complex task.

Businesses typically use wire transfers or services like Western Union, MoneyGram or PayPal to issue payments, all of which can result in fees and/or complications. Printed checks aren’t a better solution as they require postage and a significant snail-mail delay time… As a matter of fact, these services were initially designed to be used on a person-to-person or person-to-business basis, and are inefficient when used for business-to-person payments.

Payoneer offers a convenient solution to this issue by allowing organizations to pay large numbers of workers around the world, efficiently and securely directly to theirPayoneer Prepaid MasterCard® cards, which avoids them the delays and heavy surcharges of more traditional methods mentioned above.

Payoneer is a privately-held start-up of Israeli origin founded in 2005. It now has its headquartered in New York and employs 55 people, including a team of experienced financial and technology professionals. Payoneer is backed by private and venture capital investors including Greylock Partners, Carmel Ventures, and Crossbar Capital and is a registered MSP with MasterCard.

As it is meant to offer businesses a better way to pay their workers, Payoneer Prepaid Debit Cards are co-branded with the company’s name and logo. This means that depending on the company that you apply through; your card’s look will differ as Payoneer offers customized cards.

The Payoneer’s MasterCard Prepaid Reloadable Debit Card can be use to buy goods and services or withdraw money anywhere in the world where MasterCard Debit cards are accepted, this includes websites, ATMs and shops. As you can see, the cards offered by Payoneer are not credit cards as you cannot spend more than what you already have on your card.

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