Payoneer opens wire transfer services

ISLAMABAD: Paynoneer, the global payment processing system, has opened its wire transfer services for banks in Pakistan, a statement said on Friday.
Anyone with a Payoneer account will be able to transfer funds from their Payoneer account to a local bank account in Pakistan, it added. This is essentially going to help Pakistani freelancers who face trouble in charging their foreign clients, especially when other popular services don’t work in Pakistan.
A Payoneer account can accept payments from anyone in the world. Earlier, freelancers used to withdraw their funds through Payoneer ATMs, which was an expensive sport, since there’s notable transaction charge of Rs750 attached with every transaction users do with Payoneer ATM withdrawals.
Now Payoneer users can simply add their Pakistani bank accounts and request for a withdrawal, the statement said. The Payoneer account can be used with a MasterCard-enabled prepaid card, so the users are able to draw money from local ATMs that support MasterCard. In Pakistan, the card is known to work with ATMs of MCB, Standard Chartered, and Faysal Bank.