2Checkout.com Pays Suppliers Using Payoneer Prepaid Debit MasterCard

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 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 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 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 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 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.”