Payments firm Payoneer is partnering with Mastercard to offer a new digital purchasing card. Payoneer works to remove friction for small businesses paying and getting paid globally. The Payoneer Digital Purchasing Mastercard helps SMBs make cross border purchases and connect to mobile wallets.
What’s happening: Demand for digital solutions and payments have accelerated during the pandemic. This partnership addresses SMBs that appreciate access to immediate funds and easier to use solutions to invest back their earnings to drive business growth.
Payoneer’s new card joins the firm’s Prepaid Card as an option for SMBs to make global purchases. The card also provides access to multiple cards, which can streamline business expenses across platforms, storefronts and product lines.
The product: The Digital Purchasing Mastercard is a credit card but has a daily spending limit that uses a business’ Payoneer currency balance to prefund the use of the card up to a daily spending limit. The prefunded amount can be customized using card top-up settings in a Payoneer account.
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