ECommerce has changed the way companies conduct business. Gone are the days when funds are sent and received through banks only. In the 21st century, money can be sent and received in various ways. One popular method of mobilizing funds is the use of online payment platforms such as that of payoneer.

Like its predecessor PayPal, Payoneer is an online payment platform that enables individuals and businesses to mobilize funds. This is advantageous for people who are working remotely or for companies that outsource their services overseas. This online payment platform eliminates the need to conduct transactions bank to bank. It also eliminates the need to fill out tons of paperwork. Lastly, it reduces the amount of time required to move funds from one location to another.

To highlight why Payoneer is considered as the 21st-century payment solution, here are some advantages:

  • A bank account is not required. In other words, you can still sign-up for Payoneer even if you don’t have a bank account. This is because Payoneer will send you a Prepaid MasterCard Debit Card. This will allow you to withdraw money from your local ATMs.
  • Online transactions are a breeze. It doesn’t take days for Payoneer to send or receive payments. In a matter of hours, you can receive payments and start using it for other online transactions that you might be engaged in.

If you have a local bank account, you can also link this to Payoneer. When you link your local bank account, you can withdraw the money you received via payoneer through your local bank.

  • Having Payoneer will entitle you to a virtual US Bank account.  A virtual US Bank account is like any other US Bank account only you are located in a non-US territory. You can deposit your money here and may come in handy in transactions that actually require US Bank accounts.

The 21st century is all about convenience and speed and Payoneer delivers both.