2Checkout.com Pays Suppliers Using Prepaid Debit MasterCard(R) Card Through Payoneer.Partnership Lets Suppliers Worldwide Access Their Earnings Faster, More Conveniently and Cost-Effectively COLUMBUS, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. & NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- 2Checkout.com (www.2checkout.com), a provider of global e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. solutions to tens of thousands of business customers around the world, announced that it has partnered with Payoneer[TM] Inc. (www.payoneer.com) to provide its suppliers with the option of receiving their usual weekly payments via a prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. MasterCard[R] card, instead of a paper check or wire transfer. Operated
by Payoneer, 2Checkout.com branded cards are good at any ATM, store or
online site that accepts MasterCard worldwide. Cards allow suppliers
faster, easier access to their funds while cutting the costs associated
with other methods of payment. They bear the 2Checkout.com logo on top,
are secure and easily reloaded.
The 2Checkout.com-prepaid debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. MasterCard is particularly appealing to suppliers outside the US, who often face limited, costly options with international payments. Paper checks often require a 30-day hold time, and sometimes are lost or stolen in the mail. Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the payment methods are popular in the US but are not available as cash worldwide. In contrast, the Payoneer-powered 2Checkout.com prepaid card lets suppliers withdraw cash in local currency at ATMs around the world, at more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. exchange rates than banks. Once cards are mailed to suppliers, funds can be accessible within the next one to two days after a quick online verification. If a card is ever lost or stolen, Payoneer will cancel the card and transfer the remaining balance to a new replacement card. An online site allows suppliers to check their card balances and account activity easily at any time. "Offering Payoneer is definitely opening our market internationally, and we believe it is helping us to achieve a competitive advantage," said Geno Arce, business development specialist for 2Checkout.com. "We're already seeing enthusiastic adoption of this payment option in just our first few weeks of offering this solution, particularly from overseas suppliers. Payoneer has over 60 major-name customers, and is a registered MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. of MasterCard Worldwide. We are making this option available to give our suppliers as many choices as possible on how they get paid." "The payment process is a unique opportunity to further a company's relationship with its payees long after funds are paid out," said Yuval Tal, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Payoneer. "More and more companies like 2Checkout.com are distinguishing themselves by offering payment options that better meet the needs of anyone that they need to pay - while reinforcing the company's brand identity." MasterCard[R] is a registered trademark of MasterCard Inc. Payoneer is a trademark of Payoneer, Inc. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies. |
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