Payoneer card access blocked in India

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Payoneer sent out a notification to all of its Indian card holders via email which says that it would be blocking access to local purchases and ATM Withdraws carried out by all of the Payoneer PrePaid MasterCards in India due to instructions from local bank authorities as of 7 Jan 2010.

Payoneer provides freelancers and individuals to receive payments from all over the world in their accounts which can then be used online for shopping or local purchases at merchants. One can also withdraw the earnings via ATM.

Possible Cause of Payoneer India Outage

Last year, in February 2010, PayPal had also blocked personal payments for Indian users and withdrawals to bank accounts in India were suspended following RBI intervention. As of Jan 2011, the personal payment still remain blocked by PayPal.

It looks like a similar situation this time with Israeli based Payoneer which was founded in 2005. I have been using their prePaid MasterCard since over an year now and its been a smooth ride. With PayPal, the transactions were resumed after provisions were made by them to include the PAN for Indian users alongwith a Purpose code.

We’ll have to wait and watch how the Payoneer issue resolves with time for Indian users. payoneer card access blocked in india

Payoneer card access blocked in India

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