Payoneer System will allow ClickBank to pay some vendors and affiliates with pre-paid debit cards
BROOMFIELD, Colo. - Jan. 19, 2010 - Global retailer ClickBank has forged a new agreement with Payoneer, a leading online payment solution provider, that will allow ClickBank to pay some clients outside the U.S. with prepaid MasterCard debit cards, ClickBank officials announced.
The new compensation method will better serve ClickBank clients located in countries such as India, Israel and China, where it is more challenging for clients to receive commission payments in their preferred local currency, said Dush Ramachandran, vice president of sales and business development for ClickBank. The Payoneer solution will also allow ClickBank to build brand awareness by customizing the prepaid debit cards with the company's logo and color schemes.
"This capability will be particularly useful to our clients who reside in countries where direct deposit or electronic fund transfers are not currently an option," Ramachandran said. "Until now, the only option for these customers was wire transfer, which is often expensive and requires conversion from U.S. dollars to the local currency."
Using the branded prepaid MasterCard debit cards, ClickBank will be able to automatically transfer payments to a client's account, making the funds available in the customer's local currency in a matter of minutes.
"The Payoneer system will not only help ClickBank strengthen client relationships, it will also decrease the time it takes for them to get paid, increasing ClickBank's overall payment throughput capacity," said Yuval Tal, CEO of Payoneer. "We believe the use of prepaid MasterCard debit cards will greatly improve ClickBank's current payment model in countries where direct deposit or electronic fund transfers are not available."
The announcement of the ClickBank-Payoneer agreement comes on the heels of several related developments in which ClickBank has sought to make business transactions easier for ClickBank affiliate marketers and vendors in the international marketplace. ClickBank's entire web site outside the login has been translated into German, Spanish and French, for example, and ClickBank accepts 13 international currencies including the Euro, the British Pound, and the Swedish and Danish Kroner.
About Payoneer, Inc.
Founded in 2005, Payoneer Inc. provides fully hosted prepaid MasterCard® card solutions for organizations that need to remit payments to remote, dispersed populations worldwide. Payoneer's turnkey prepaid card platform enables companies of all sizes to optimize their payments delivery by replacing traditional payment methods with prepaid MasterCard cards and recurring electronic transactions. Payoneer is a registered MSP with MasterCard Worldwide and an approved partner of Meta Payment Systems®, a division of MetaBank. Payoneer is headquartered in New York and maintains its R&D center in Tel Aviv, Israel. Payoneer is privately held with venture funding from Carmel Ventures, Greylock Partners and Crossbar Capital. For more information, please visit http://www.payoneer.com
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