NEW YORK, NY October 27, 2008 – Payoneer, Inc., a leader in payment solutions that help companies pay their people worldwide using reloadable Prepaid MasterCard cards, announced today that it has integrated 41st Parameter's® PCPrint™ as a key component of Payoneer's international payment services. PCPrint is the industry's leading tagless device ID technology used by a majority of top US banks to help reduce online fraud.
Payoneer is helping companies pay their people more efficiently, and at lower cost, thanks in part to the unprecedented speed and accuracy of PCPrint, which helps Payoneer to quickly identify valid transactions and detect compromised accounts.
As more US companies retain the services of overseas-located individuals, the time and cost of paying them with traditional methods has become a drain on corporate resources. At the same time, remote professionals outside the US – software developers, Web site designers, photographers, and consultants in many fields –often must endure weeks-long bank hold times, wire transfer fees, or unfavorable currency exchange policies restricting access to their funds.
Payoneer uses PCPrint as part of a streamlined yet highly compliant payments infrastructure the company has been refining since 2005. When individuals sign up for a reloadable prepaid card through Payoneer, they visit the company's web site and apply for a prepaid MasterCard card. Payoneer uses PCPrint to extract details about the approved card holder's computer during registration and activation. Each time a US company authorizes payment to individual Payoneer-registered card holders, Payoneer's infrastructure uses PCPrint to identify the cardholder online so it can record and swiftly validate transactions.
"PCPrint is a key solution allowing Payoneer to bring a new standard of confidence to international payments," said Yuval Tal, CEO of
Payoneer. "As Payoneer continues to expand its family of products, 41st Parameter's bank-proven technology gives us a solid foundation from which to propel our growth going forward."
"Our technology helps banks Member Service Providers - like
Payoneer –assure their banking customers that the individuals they make payments to are valid," said Ori Eisen, founder and chief innovation officer, 41st Parameter. "We are proud to help simplify and protect the international payment process by providing the most effective online device ID technology."
About 41st Parameter41st Parameter is the leader in fraud intervention, providing proven solutions to help protect brands and customers, reduce fraud losses, and make the Internet a safer place to conduct business. Through a combination of risk management and loss prevention experience, leading technology, coupled with human interaction and best practices, 41st Parameter produces solutions with an unprecedented level of detection capability, decreasing the anonymity of the Internet and providing valuable insight to every online transaction and customer interaction. 41st Parameter makes the process of detecting and preventing fraud easier and more effective, reducing both expenses and potential losses. For more information, visit
www.the41st.com or call 1.888.The.41st (1.888.843.4178).
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 tens of thousands of Payoneer cards in circulation. The company is a registered Member Service Provider of First Bank of Delaware, and a partner to i2cinc.com. Based in New York, Payoneer maintains its R&D center in Tel Aviv, and is privately held with funding from Greylock Partners and Crossbar Capital.
For more information, visit
http://www.payoneer.com.
