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My Experience with Payoneer

Updated on June 18, 2017

Ten years ago, I had this great idea from my grandpa about starting a business, a magazine production business that would be able to sell internationally. This was due to the experience I had with my grandpa at his magazine production company. Although it was rather small, the income generated gave me a pretty good picture of how much I would earn if I was to start the same kind of business but with more advanced production methods and tools and if I had market both in the country and outside. I was able to commence my business two years ago after gathering enough capital and completing all legal procedures. It was a long journey but through the guidance I had received from my grandpa I was able to complete everything and kick off the business.

One year into my business I was doing quite well and profit margins were rising considerably fast. But everything changed the moment I had this incredibly encounter with Payoneer. Payoneer is type of financial service business which enables e-commerce payment service and online money transfer. It is a registered Member Service Provider (MSP) of MasterCard in the entire globe and has its headquarters in New York City. The business provides online payments, cross-border wire transfers, and provides businesses and working professionals with refillable debit card services. Account holders of Payoneer can receive funds through reloadable prepaid debit cards directly to their local bank accounts. The debit cards are issued through MasterCard and can be used at purchase points or at the ATMs.

  • With this business partner, I had more privileges than I could ever imagine. To begin with, I signed up for Payoneer Partner Company. This enabled me to simply share files and earn money instantly. I had made almost double the profit I used to make dealing with magazines in just one and a half months. Secondly, I convinced almost all my customers to start making their payments using Payoneer debit cards. This worked out so well as well firstly because I was given discount through the Refer-a-Friend-Program and secondly since the withdrawal fees charged is critically low, and I did not need to move from one place to another looking for my dues after delivering magazines. By using Payoneer, all my worries about the unnecessary fees I used to be charged disappeared. The customer support offered by this business is also incomparable. The Multilanguage support available through telephone calls, emails and live chats is wonderful. Whether it is about a lost debit card or forgetting the pin or anything else, the customer support offers the best results. This makes Payoneer absolutely reliable and also a safe bridge between the work I do, my daily needs and weekly transactions.

In the event that I am awarded $1000 entrepreneurship award, I will use this money to

expand my magazine business to much more markets. This will subsequently facilitate growth of my business in the near future. I had always wanted to expand my business beyond my national boundaries, and with Payoneer offering more than 100 different currency options and a 46 percent discount on international transactions, things will became easier for me. Specifically, I will be able to acquire writers from other countries, thereby diversifying the content of the magazine to reach a global audience.

In this sense, I will begin searching customers out of the country since it will be rather easy dealing with them since I have the luxury of transacting payments as if I was working with an authentic local provider. Payoneer has facilitated easier and faster payment from the customers and from friends and companies which I work for abroad as a freelancer. In essence, Payoneer simplified the world commerce and made it possible for professionals and small businesses worldwide to get funds for services or products sold regardless of their location. This means the best thing about this business is the ability it has to remove geographical borders and enable cost effective transactions from anywhere in the globe. The award will enable me develop a website for my business through which I will be able to sell and interact with customers. Therefore, a venture into the global market will be my priority once I am given this award.

Since my encounter with Payoneer, my business has sprouted faster than I ever thought it would. I believe that in the next two years my business will have grown from being a local small scale magazine producer to a rather large international one. I plan to use the Payoneer MasterCard to enable this transition because of the benefits arousing from its use. By using the Payoneer MasterCard, I will be able to make sales in any country of my choice since it enables over 100 currency transfers. I will also be able to sell in markets, online stores, in my country and throughout the world because Payoneer MasterCard is supported anywhere that MasterCard is accepted. Additionally, the ATM support offered by Payoneer enables a person to use their ATMs in withdrawing cash from any ATM in the world. For someone who does not have a bank account, the process of signing up is also easy since no bank account is required for the sign up process. Another good thing about the MasterCard is that one cannot use it without funds in it, meaning there cannot be overdraft fees and one can only spend how much they have on their card. This makes the card secure and safe. Moreover, transactions with Payoneer are very fast because one can access their cash within two hours after receiving a payout via Payoneer. With these and much more reasons, I tend to see myself in a higher standard than I am right now if I continue using Payoneer for my business.


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