Payoneer, a New York company that lets bloggers and others use a prepaid debit MasterCard to save money while making payments abroad, has raised $4 million.
Payoneer claims that that most other forms of payments open to small Internet publishers are too complicated or costly. These publishers often need to make payments to companies that provide them with advertising, for example. A prepaid MasterCard, which does require a few set-up steps, is either cheaper or easier than using PayPal or normal credit card, the company says. Prepaid debit MasterCards are accepted at stores and ATMs worldwide.
Greylock led the deal, which included Crossbar Capital and exisiting investor Cross Beam Capital. The company has now raised $5 million to date.