Payoneer Strikes Business Collaboration With Mastercard Inc (NYSE:MA)

The outbreak of the deadly Covid-19 pandemic sparked major business changes globally. Leading businesses started embracing contactless and digital payment solutions, a move that continues to benefit major companies like Paypal Holdings Inc (NASDAQ:PYPL) and Apple Inc (NASDAQ:AAPL). Mastercard Inc (NYSE:MA) and Payoneer have pronounced a business collaboration that will see the two serve small businesses with digital payments cards.

How will the small businesses benefit from the move

The latest move empowers small businesses. They will enjoy outstanding freedom in terms of how they pay and get paid in their business undertakings. Sources indicate that such businesses will also gain immediate access to the funds they earn, contributing to improved and faster business operations.

The changes sweeping across happen when digital payments are taking over, with top companies enjoying the acceleration.

Payoneer’s business operations

Payoneer has a wide user-base, comprising of about 5 million so far. It might interest anyone in learning that this company operates with about 150 different currencies and has been performing remarkably when it comes to cross-border payments.

The Israeli entrepreneur Yuval Tal happens to be the big name behind the establishment of Payoneer, which was unveiled back in 2005. The company has, over the years, witnessed massive success. It was back in 2017 and 2018 that is featured in the CNBC Disruptor 50 lists, and it continues making significant efforts to remain at the top of its game.

Payoneer’s outstanding success can be greatly attributed to its leadership. Scott Galit, who used to work with Mastercard, joined the company in 2010, taking up the company CEO role. Galit had been working at Mastercard for about two years.

Payoneer has already disclosed some important details about the use of its new Payoneer digital purchase card. According to the company, this card will be used on a limited basis until it announces a broader rollout. The business intends to engage in the broader rollout in the course of the second half of 2021. At the moment, the card will only be issued for use in U.S. dollar transactions.

Leave a Reply