Payoneer Looks Back at Company's Growth in 2012

Rhett Pardon

NEW YORK — Payoneer today presented its Winter 2012 Update, which focuses on the payment solution company's top initiatives and features, as well as recognized accomplishments in the business community.

Payoneer, a member service provider in the U.S. and regulated under the Financial Service Authority in the E.U., said its business grew "extensively" during 2012 with numerous brand-name affiliate programs and model studios coming online.

“Payoneer accelerates growth for ecommerce companies and many other businesses by improving the way they make payments to more than 200 countries worldwide” Payoneer Vice President Yair Tal said. "Payoneer offers more choice, lower cost, flexible technology, better service and increased speed and satisfaction for both senders and recipients. 

"We now offer a complete global multicurrency solution that solidifies our leadership position in this emerging market and demonstrates our commitment to meet the evolving needs of our corporate partners and customers around the world,” Tal said.

Tal noted that the New York-based company lowered fees for local bank transfers this year.

Its Global Bank Transfer service, for example, allows users to receive local and wire transfers directly to bank accounts in more than 200 countries worldwide and 40 currencies. For more than 55 countries, local bank transfers have been reduced to $2.99.

"One of the new features we are released is the ability of individuals to apply for a Payoneer Pre-Paid MasterCard through our website directly and be able to receive payments from more than 2,000 companies," Tal said.

This year, the company earned kudos from technology awards program Deloitte Technology Fast 500.

Payoneer ranked 34th on the Deloitte list, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.

Deloitte awards winners are selected based on their percentage of fiscal year revenue growth from 2007-2011, during which Payoneer grew 4,751 percent. Additionally the winners needed to demonstrate a high level of creativity, innovation and business savvy in their respective fields.

In a statement, Payoneer officials today said the company credits its rapid growth to the quality of the company’s partners, account holders and staff.

"This is a great honor for us and it shows the continued remarkable growth of the company," the company said. "Our success is the direct result of your business."