Payoneer Cards: Empowering Global Payments and Financial Freedom

1. Introduction

Payoneer has become a popular way of rewarding partners. It was primarily built on empowering business owners around the world. There are many benefits of using Payoneer cards. First, Payoneer is widely accepted. It is typical for online platforms such as Upwork to be used as a mode of making money. Normally, these platforms have a global presence. However, being able to get a reward in a remote location is always a challenge. When clients have to select a suitable payment service provider to process payments that are widely acceptable, Payoneer comes in handy. Second, with Payoneer, one does not need to have a bank account in order to receive payments. This is because the payments are directed to the Prepaid MasterCard which has been issued by Payoneer. Therefore, to those individuals who do not have a bank account or would wish to receive their payments on the same card as the one used in transacting business online, Payoneer offers a seamless payment option. In addition, funds can be accessed immediately as soon as they have been loaded onto the card. This is indeed a great departure from the delays that are often experienced especially where bank transfers are concerned. Also, the online platform through which payments will be received can vary. However, with Payoneer, individuals with accounts in different countries can receive funds. This flexibility has therefore made Payoneer a preferred option for the global growing freelancers. It should be noted that the accounts are not limited simply because one has used a certain currency as the card supports different currencies. Lastly, some payment services will require that individuals have to fill in payment details if they are to access payments. Well, one may choose to deposit the money in the bank directly from the card. However, there is a better way around for those who frequently use the online platforms for transactions. For example, instead of having to fill in payment details every now and then in order to access funds, Payoneer offers a seamless option by simply using the ‘Set as Automatic’ option. This option allows the card holder to gradually set and effect payments. With such lot of benefits, it is clear why Payoneer cards have become increasingly popular.

1.1 Benefits of Payoneer Cards

First, it is important to remember that the Payoneer organization is known for working with well over two hundred and fifty currencies. This is beneficial for those who are involved in international businesses, as it is likely that the currency that needs to be used is supported by the program. Whether considering the benefits of the card or other aspects of Payoneer, it is clear that this is a useful and efficient way of managing payments domestically and abroad. Another strong advantage is the fact that it is possible to withdraw from ATM and other cash machines directly to the Payoneer card. This is essential for those who are traveling abroad and need to top up on the local currency, as the card can be used just like any other. It is also important for businesses in that it is simple and efficient to access revenue that is generated from abroad. This is likely to involve lower costs than having to convert money or employing some of the more traditional card systems. When using the Payoneer card, the real benefit is that it is viable for any purpose related to visa and credit cards; purchases in shops, online or withdrawing from an ATM, the process is secure and seamless. All currency conversion is carried out automatically, meaning that funds are taken from the appropriate balance on the card. This ease and convenience are complemented by the feature that the card is accepted in almost every country worldwide.

1.2 Global Payment Solutions

In addition to streamlining payments between global suppliers and vendors, Payoneer also offers clients payment strategies, risk management and compliance solutions, customer support, and the option to offer a co-branded solution to customers. Payoneer can help clients overcome the challenges of making cross-border payments and also make it cheaper and faster to make multi-currency payments. RegularPay collaborates with Payoneer Payment Providers and is pleased to propose Payoneer as an alternative mode to acquire and make merchant payouts. RegularPay works with many high-risk and low-risk industries. We have become greatly experienced in helping clients find the right financial solution for their business. By adding Payoneer to the list of alternative payment methods, it provides clients with more choice in how they make and receive payments and, most importantly, it offers an alternative option to the traditional banking network.

2. How to Get a Payoneer Card

In order to have one of these payment cards, in this case the MasterCard version, you need to have a Payoneer account. Anyone that is over the age of 18 can submit an application to get the card. You have the option to choose between a business and a personal account. You will need to provide your name, address and a valid email address, as well as a password, phone number and date of birth in order to create a Payoneer account. After submitting this information, you will receive a confirmation email containing a code that you will have to enter online. This is the first step into completing the necessary requirements to have a Payoneer account and the payment card. The next step involves the submission of personal information. This will allow Payoneer to verify your identity. You will have to provide your social security number and a valid picture ID, such as a passport or driver’s license. Also, a document that contains your name and address, like a utility bill, is required in order to submit a successful application. Once you have submitted all the necessary documents and forms, your information will be saved for future reference which will make applying for other financial products easier. Now after creating your Payoneer account, you must look for the relevant section where you can request to have a payment card. There, you will have to fill in your personal and shipping information. The card will most likely arrive in a period of 14-16 days and it must be activated once received.

2.1 Creating a Payoneer Account

To begin, you will need to register for a free account at the Payoneer website. Make sure that you have the following information available as you will need to enter the data accurately. You will need a working email address in order to verify your new Payoneer account. Also, you will need to enter your full name as found on your government-issued photo ID. For your date of birth, make sure that you are accurate. This information will be verified and will help to protect your account from unauthorized access and fraud. Finally, you will need to supply your residential address and phone number. Again, the information you enter must match exactly what is on your government-issued ID. As part of the signup process, you will also need to create a username and password for your Payoneer account. Finally, the last step to create a Payoneer account, you will have to complete a short questionnaire about your intended use of the account. This information is required due to various international and US regulations that monitor the movement of money throughout the world. As such, it will be necessary to confirm your email account and complete the electronic registration process before your account will become active. As soon as the email account is confirmed and the information provided and registration has been verified, then you will be able to order and start using your Payoneer card.

2.2 Card Activation Process

The process to activate your Payoneer card is very simple. Once you receive your Payoneer card in the post, you will need to follow some simple steps in order to be able to start using your card. Firstly, you will need to go to the Payoneer website and into your account. Once you are logged in to your account, you will find an option to activate your card. This option can be found in the ‘settings’ menu right after the ‘billing’ menu. When you select the ‘activate’ option, you will then be asked to provide the 16 digit card number, the expiration date of the card and the security code, which can be found on the back of the card. After you have submitted this information, your card will then be activated and you will receive a confirmation message on the screen that your card has been activated successfully. Also, Payoneer will send you a confirmation email to let you know that your card is ready to use. However, it is important to keep the confirmation email as evidence that Payoneer have confirmed your card to be active. Lastly, you will also need to sign the back of your Payoneer card in order for your charges to be authorized. By signing the card, it means that you are agreeing to the terms and conditions of the use of the card. Also, the signature on the back of your card is checked against any receipts that are signed. Therefore, this is important to ensure that your payments are secure and your charges are approved.

2.3 Card Usage and Limits

To start using your Payoneer card, you first need to activate it, which can be done by following the instructions included in the letter that was attached with your card when it was delivered. For the vast majority of users, the card typically becomes active within 24 hours, thereby allowing you to use it to make payments or to withdraw cash from an ATM. Please be mindful that as with all payment cards, Payoneer cards come with a whole host of limits in terms of the value of the maximum single transaction, the aggregate amount of transactions that can be made in a single day and/or the value of the maximum amount of money that can be withdrawn from an ATM in a single day. Such limits are put in place by Payoneer as a security measure in order to help protect both users and the company itself from the consequences of financial crime, and they apply both in the case of card payments and also payments that are made using the card details alone, such as online purchases. With the Payoneer card, the maximum single transaction limit is $2500 U.S. dollars; however, it is possible to make multiple transactions so long as the total amount does not exceed $2500. The good news is that there are no limits in terms of the value or number of purchases that can be made over the internet and as such, the Payoneer card lends itself very much to online shopping use. When it comes to ATM withdrawals, the maximum amount that can be withdrawn in a single transaction is $250 U.S. dollars. Also, a maximum of twenty separate withdrawals can be performed in a single day, provided that the total value of all withdrawals does not exceed $2500. As for the maximum value that can be withdrawn from an ATM in a single day, this is also $2500 U.S. dollars. On the other hand, the maximum amount that can be withdrawn in any one year is $20,000 U.S. dollars. These limits are fairly generous and are unlikely to cause problems for the majority of users considering that the card can be funded up to $20,000 U.S. dollars every 24 hours by utilizing the “immediate loading” feature. By holding a balance of $20,000 U.S. dollars, this provides scope for daily living costs and taking advantage of the card’s convenience, without the need to frequently add funds. However, it should be noted that all these values are accurate as of 14th September 2016 but they are subject to change. Users are advised to consult the latest fee and limit schedule provided on the Payoneer website to ensure that they hold the most up-to-date information.

3. Managing Your Payoneer Card

If you want to check your balance, you can simply login to your Payoneer account at any time, view your balances on the “Transaction” page, or go to “Activity” and choose a specific currency. You can access your full transaction history online and print it out. If you need to add funds to your card, you have many options. There are three ways to add funds to your Payoneer card. First, if you have family or friends who also have a Payoneer account, you can send funds between your cards for free. Secondly, you can receive payments from other Payoneer members to your card and you can also apply to receive payments from various companies in the “Global Payment Service” page, after which you can transfer funds between the receiving balance and the card. Lastly, you can refer someone to Payoneer through the “Refer a Friend” or “Affiliate” program—it’s free to refer someone—and once the person you referred receives at least $1000 payments to his/her card, you will earn $25. When you refer many people and get lots of money, it is a great way to keep adding funds into your Payoneer card. As mentioned earlier, once you sign up for a Payoneer account, there is a virtual account number provided to you along with a physical card. If you opted for a physical card too, you can withdraw funds from any ATM that accepts MasterCard. To withdraw funds to your local bank account, you can choose from 2 services: Global and Bank. The “Global” service will allow you to withdraw to your local bank account with funds converted into your local currency, accessible to any bank. The “Bank” service will transfer the funds directly to the bank without conversion. Also, if you have funds on your Payoneer balance that you need to withdraw, select “Pending in Account” within the “Withdraw” page to specify the funds you wish to transfer. Last but not least, if you need to request a new card or you encounter any problems, knowing where to get help. If your card has been lost, stolen, or damaged, you can order a new card easily. You can call the customer support hotline 24 hours a day, 7 days a week but the phone number varies by country—simply go to “Contact Us” and choose your country to see the phone number if you attempt to get a replacement card.

3.1 Checking Your Balance and Transaction History

Once you have logged in to your Payoneer account and selected the “Activity” menu, your entire transaction history will appear on your screen – even transactions which have not yet been loaded onto your card. This means that you can see exactly what has been spent and what has been credited to your card before you go abroad or make a purchase. The transaction history function is an incredibly useful tool to help you monitor your payments. For example, when you make a withdrawal from an ATM, the ATM will often show how much your bank account has been credited with before giving you your cash. This figure – your new card balance – will be updated automatically when the withdrawal request is processed by Payoneer. By looking at the transaction history it is easy to distinguish between ‘pending’ transactions (like the impending ATM withdrawal in this example) and those which have been fully processed. Also, when you transfer money from one currency balance on your card to another – for example you might transfer some of your EURO balance into DOLLAR funds – this too will be recorded in the transaction history. Finally, it is important to remember that any Payoneer account which has brought in revenue of at least $100 in total after the opening of the account. This figure is cumulative, so even if you have stopped using Payoneer for periods of time, you will not have to reapply for a new active card if you wish to begin using the account again. This fact might be worth noting if you are considering suspending the use of your account in the immediate future. Whether you are travelling, keeping track of card activity, transferring between balances or overseeing business expenses, Payoneer’s resources and applications can empower you to manage your card payments on your own terms.

3.2 Adding Funds to Your Card

To add funds to your card, you might want to log on to your Payoneer account and choose “Payoneer Account” => “Load Funds” from the main page. Here, you will see a drop-down menu, choose the currency in which your card operates, and choose the option of funding. You should be able to see the balance on your card and it is empty at this point. Kindly follow the simple steps shown in the load funds section. Mostly you can load your card through local bank transfer or debit/credit card. Kindly make sure to use your funding source of the same currency as your card currency, this means if you own a EUR card, fund it with EUR currency, if you fund with USD or any other currency, Payoneer will charge you a high currency exchange rate. Normally, it should take 2 hours to 2 days max for the funds to be available on the card. Also there are three terminology/durations used to measure the speed of adding funds to your card, namely Standard (3-5 days but you pay no fee), Immediate (within 2 hours but a 1% fee on the cash amount) and Economy (within 3 hours but a 0.5% fee of the cash amount). But I found it quite inconsistent, for my case, it is free of charge by selecting standard duration but in fact, it only takes around 2 hours. There is also another mean of adding funds to your card. When you are making a payment through Payoneer, you can select to use your balance or take it directly from your funding source. If you choose to use your balance, but the balance is not sufficient to cover the payment, then Payoneer will automatically take the rest of the amount from your funding source. If you choose to take it directly from your funding source, Payoneer will ignore your available balance.

3.3 Withdrawing Funds from Your Card

Withdrawing funds from your Payoneer card is easy and can be done in a few different ways. The first and most convenient way to withdraw funds from your Payoneer card is to visit any ATM that displays the MasterCard logo or the ATMs that display the logos on the back of the card. You can also check for ATMs that display the Cirrus or Maestro logos, which offer different types of debit cards from different issuers, but it is strongly recommended that you use a MasterCard ATM to avoid problems. Like any other card that’s used at an ATM for the first time, you will need your PIN. In the case of your Payoneer card, the PIN would be the four-digit number that you entered when you activated your card. If you forget your PIN or if for some reason it doesn’t work and you can’t find an ATM that suits you, you may consider getting a cash advance when shopping. You won’t need a PIN to do this, and it’s the best option if the other methods can’t be used. Again, the cashier will select “credit” and you will sign for the verification and voila! You can also view your balance in the shopping receipt. Remember that using the card at a POS location does not need a PIN for purchases. If you try to make a purchase at a POS location and they ask for your PIN, it’s most likely the clerk chose the “credit” option instead of the “debit” option when they swiped your card. However, they can cancel the transaction, choose “credit,” and swipe it again. Also, keep in mind that some retailers might have a minimum purchase amount if you want to use the card for shopping. Just disregard the “Minimum Limit 20” sticker on the cash register or next to the POS. Players don’t need to remove any money from the card in order to shop, and it is illegal for any retailer to ask you to do so.

3.4 Card Replacement and Customer Support

If your card gets damaged, lost, or stolen, you should request a replacement card. You can request a replacement card at any time by contacting Customer Care using the telephone number or email address listed on the Contact Us section of the Payoneer website or by logging into your Payoneer account and clicking “Help” on the main menu to create a support ticket. When contacting Customer Care, they may advise you on any applicable fees or restrictions for replacing your card and tell you what to expect next. Similarly, if you have any questions about your card or you feel that the Cardholder Agreement has been violated, you should contact Customer Care. Customer Care is also your first point of contact if you need help using your card, you would like to report unauthorized transactions, or you have any questions about the Cardholder Agreement. Customer Care is contactable 24 hours a day, 7 days a week. Every time you message Customer Care by creating a support ticket or sending an email, you will receive a reference number. If you have not received a resolution from Customer Care within 3 to 5 business days or you have received such resolution and are not satisfied with it, you may submit a written complaint to Customer Care. Be sure to include the reference number in your written complaint. By law, you are required to receive a resolution from Customer Care before proceeding with submitting a written complaint. You may also request a copy of the Payoneer Complaints Management Policy and Procedures from Customer Care free of charge. This outlines how your complaint will be handled within predefined timescales and the remedies available to you if you are not satisfied with the outcome.

4. Payoneer Card Security and Safety

The Payoneer card program has been a launchpad to financial freedom and transforming the lives of many people around the world. With over 4 million users from over 200 countries, the Payoneer brand has revolutionized the world of online payments and global entrepreneurship. Cardholders have the ability to accept payments from international clients at very fair and reasonable rates which circumvent the exploitative bank rates. However, to ensure that your card remains effective and safe to use, it is important to familiarize with and adhere to the stated security and safety guidelines. By keeping the card safe, securing the personal identification number, monitoring your card activity and also keeping the Payoneer customer care numbers on frequent contacts, you can ensure a safe and useful card experience. These guidelines are part of an elaborate security policy that has seen the Payoneer being recognized as a principal member of MasterCard. The card is also a chip and Personal Identification Number (PIN) protected – a feature referred to as the chip and PIN technology. The chip provides an added layer of security due to encryption of the card and user information while the PIN ensures that only the authorized user gain physical access to the funds in the card. This feature ensures that the card is very secure even when using it in public and crowded places where the risks of unauthorized card reading is way above the acceptable safety threshold. Every Payoneer card is eligible for an integrated online account. This means that by logging in from any internet-enabled device, you can keep track of the card balance and review transaction histories. The online account has a number of security features including the option to set a limit for the value of the online transaction, a feature that adds an extra layer of security against potential online fraud. Also, by keeping track of the transaction history regularly, one can easily identify and report unauthorized card transactions.

4.1 Card Security Features

Payoneer provides its cardholders with protection and security no matter where they are. By employing industry-leading security measures, our cardholders can trust in the security and reliability of their Payoneer cards for their everyday financial needs.

Payoneer is committed to ensuring the privacy of its cardholders. Our Privacy Policy informs our cardholders about what information is collected from them, how that information is used, and how Payoneer protects and shares that information. Payoneer does not sell or share its cardholders’ personal information with unaffiliated third parties for their marketing purposes. We employ best practices and security measures in an effort to prevent unauthorized access to our systems and the data we collect from our cardholders. Payoneer’s Security Research and Development Team continuously monitors and improves the security of its software in order to respond to new threats and to protect our cardholders’ information to the best of our ability.

Payoneer uses the highest standards when it comes to securing its users’ transactions. Payoneer uses Transport Layer Security (TLS) to secure the transmission of users’ personal information. TLS is an encryption technology that provides secure communication over the internet. All transmitted information from Payoneer to our cardholders, and from our cardholders to Payoneer, is fully encrypted. Payoneer’s encryption keys are maintained through a complex two-tiered administration process to ensure their safety; our encryption methods and security measures are updated on a regular basis in order to provide protection against new and emerging security threats. Payoneer also uses security assessment tools to help protect users from online attacks. By monitoring logs and detecting attacks, Payoneer can prevent and mitigate security incidents. It is Payoneer’s responsibility to maintain up-to-date information security policies and to monitor its security technology and methods regularly. Our security assessments and information security policy are developed in accordance with best practices and principles promulgated by various payment card industry (PCI) standards and governing entities. By employing these best practices, our cardholders can be further assured that Payoneer protects their valuable data and provides a secure and safe service.

Payoneer has money transmitter licenses in over 40 states, and we require all U.S. Payoneer cardholders to undergo a Know Your Customer (KYC) process before we can issue them a Payoneer account or card, or allow them to use our services. This means that all U.S. Payoneer cardholders must provide us with certain identifying documents before the card can be activated and used. Once a U.S. Payoneer cardholder’s identity has been verified, the cardholder can use his or her Payoneer card to make purchases.

4.2 Protecting Your Card Information

When using your Payoneer card, it is important to remember to protect your personal information. On the back of your Payoneer card, you will find the signature panel. When you receive your Payoneer card, you are required to sign on the panel using a non-erasable pen. The signature on the back of the card is a way to validate and protect your purchases. In the event that your card is lost or stolen, we recommend that you report it to Payoneer and the local authorities straight away. By keeping your card in a safe and secure location, regularly checking its location and not disclosing sensitive information to untrusted sources, you can reduce the risk of unauthorized access and use. We will never contact a cardholder by email, telephone or otherwise and ask for the card number, password, PIN or full personal details. If you have any questions regarding the validity of a request for information, you should contact Payoneer using the contact information on the back of your Payoneer card. You can also refer to the resources and information provided by various government bodies and accreditation programs such as the United States’ Federal Trade Commission and the Payment Card Industry Security Standards Council. These agencies provide a wealth of information and best practices with regard to protecting cardholder information. In the United States, for example, the Federal Trade Commission provides clear guidance on how to protect and minimize the risk of identity theft. By educating yourself on the types of fraud and the procedures for safeguarding your personal and financial information, you can be better prepared to protect yourself and prevent misuse of your card.

4.3 Reporting Lost or Stolen Cards

Contact Payoneer Customer Care as soon as you find your Payoneer card is lost or stolen. This is the best way to keep your account and your money safe from unauthorized access. It is very important to provide as much information as possible to Customer Care about the date and time you noticed your card is missing and any recent use of the card. In case you are having difficulty in finding your card number, it is important to note that you can find your card number by going to “settings” in your “My Account” and then clicking on “Payoneer Card” under “Financial Information”. We’ve already seen the kind of great service Payoneer offers so it’s perhaps no surprise to hear that they’ll make sure you’re quickly reunited with your money. As soon as you report your card as lost or stolen, Payoneer will deactivate the card to provide protection for your funds. This means that even if your card falls into the wrong hands, your money is still safe. Then Payoneer will take care of it by deactivating the card and you can expect a new card to be shipped out to your registered address within 10 to 15 business days. Make sure in the meantime you use the “Bank Transfer” option in “Withdraw To” of your “My Account” if you need to access your funds. This way at least you can still transfer your funds to your personal bank account while you are waiting for the new card to arrive. And do not forget to keep an eye on your email notifications. Payoneer will provide updates on the progress of your new Payoneer card as well as advise on when to expect delivery.