SOURCE: Payoneer

Payoneer

October 13, 2009 09:30 ET

FixYa Pays Its Experts Faster, Worldwide With Payoneer

FixYa Prepaid MasterCard® Option Pays Experts Faster, More Flexibly Everywhere

SAN MATEO, CA--(Marketwire - October 13, 2009) - FixYa, the largest product support community in the world spanning over 17 million members and visitors, announced that, beginning today, the company provides an option for its over 250,000 Tech Experts to receive their earnings on a reloadable FixYa Prepaid MasterCard card, administered by Payoneer. With the new payment option, Experts worldwide gain faster and easier access to their earnings anywhere that Debit MasterCard is accepted, including retail locations, online and at the ATM.

The FixYa Prepaid MasterCard, issued by MetaBank™, provides a global-friendly alternative to receiving payments via wires transfers (available to US Experts) or PayPal. FixYa Experts can gain immediate access to their money worldwide wherever Debit MasterCard is accepted -- avoiding the lack of availability of PayPal in certain countries, and cash-hold restrictions that make it hard to access funds except for online transactions. In addition, FixYa Experts can spend or withdraw funds in their own currency worldwide wherever Debit MasterCard is accepted without the need for a bank account -- an advantage in many nations where banking practices vary.

The new MasterCard card bears the FixYa logo on top, distinguishing Experts and showing their friends and family the value of their FixYa participation each time Experts pull it out to use it. An online site allows Experts to check their card balances and transactions easily at any time. If a card is ever lost or stolen, Payoneer will cancel the card and transfer the remaining balance to a new replacement card. FixYa's card program, administered by Payoneer, has already received rave reviews during pilot programs by FixYa Experts both within and outside the US.

Since 2005, Payoneer, a venture-backed company, has provided prepaid debit card and international payments programs for hundreds of Internet-centric companies in accordance with MasterCard's strict security and "Know Your Customer" regulations. Payoneer currently has hundreds of thousands of prepaid cards in circulation in over 100 countries and provides payment system services to hundreds of companies. Payoneer's online payment solution helps FixYa's Experts get paid faster and more accessibly, while freeing FixYa to focus on its core business and not the details of paying relatively small monthly remittances to tens of thousands of individuals around the globe.

"With 40 percent of our Expert base located outside the US, FixYa needed a one-stop solution to ensure that our Experts get paid promptly, no matter where in the world they live," said Yaniv Bensadon, CEO of FixYa. "By using Payoneer, we can delegate our payment process to an expert, and focus on growing our business. We've converted the payment process from a monthly hassle into a unique branding opportunity, and made our top Experts into our best marketing tools."

"FixYa is a great venue for smart skilled people from around the world to earn money, but delivering payments to such a large number of recipients can be a pain," said Yuval Tal, CEO of Payoneer. "By using branded MasterCard cards, Payoneer shows how companies can make the payment process painless -- and turn it into a relationship asset."

About Payoneer, Inc.

Founded in 2005, Payoneer, Inc. provides corporate payout solutions that let companies pay their people worldwide using Prepaid MasterCard cards. The company focuses on Internet-centric companies of any size who need an efficient, cost-effective means of paying contractors, freelancers, and/or employees worldwide. Payoneer has hundreds of thousands of Payoneer cards in circulation. The company is a registered Member Service Provider of MetaBank, and a partner to i2c inc.com. Based in New York, Payoneer maintains its R&D center in Tel Aviv, and is privately held with funding from Greylock Partners, Carmel Ventures and Crossbar Capital. For more information, visit http://www.payoneer.com.

MasterCard is a registered trademark of MasterCard International Incorporated. The FixYa Prepaid MasterCard is issued by MetaBank pursuant to a license from MasterCard International Incorporated.

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