Payoneer, a cross-border payments specialist has been selected by freelance marketplace PeoplePerHour (PPH) to facilitate its payment system.
The announcement allows PPH’s large community of freelancers across the world to receive payments much easier and quicker from their employees.
Many of PPH’s users are located in underserved areas such as Pakistan and Bangladesh, so rely on payment networks such as Payoneer. Over $100m has been paid out to freelancers on the site to date.
‘‘Payoneer allows freelance marketplaces like PeoplePerHour to work with even more freelancers by providing fast, efficient payments at competitive prices to their workers in all corners of the world,’’ said Scott Galit, CEO of Payoneer.
The payments firm have continuously researched the online habits of freelancers. The Payoneer freelance income survey states that 46 percent of jobs sourced by freelancers are via marketplaces, and many freelancers are active on more than one. Additionally, freelancers find it easier to use one complete payment method for all of their income.
‘‘We continue to cement our position as the go-to-solution for the freelance market. PeoplePerHour is on the same mission – they’ve created a huge online network of freelancers globally, allowing them to showcase their work and establish new business contacts,’’ continued Galit.
With this new partnership, PPH will offer their freelancers a co-branded Payoneer Prepaid MasterCard account, through which they can transfer their earnings to their local bank account, withdraw at ATMs or spend online and in-store.
‘‘There are significant costs and delays associated with traditional international bank transfers, which has created a roadblock for many of our professionals based in ’slow-to-pay’ countries such as Pakistan and Bangladesh. Payoneer offers an easy, cost-effective and flexible way for businesses and professionals in those markets to get paid,’’ said Xenios Thrasyvoulou, founder and CEO of PeoplePerHour.
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