by Aqeel Syed on June 3, 2010
This news is not new for most of our readers but I’m sharing it just because someone might still be looking for this information.
Yes, Payoneer’s Pakistan ban is over, thanks to Payoneer management who have made the decision to stop their partnership with Meta Bank (Previous issuer of Payoneer Master Cards). Payoneer has now partnered with Choice Bank Limited in Belize. Card limits are increased and they are now double too (good news for power freelancers).
Payoneer is shipping new Choice cards to its card holders. New Choice cards will work in Pakistan normally. So everyone should stop worrying and start enjoying their work life.
Card Verification Update
Payoneer requires verification of your identity for new cards. You have to submit a photo ID for verification. For this you can submit a scan of your driver’s license, passporte, service card (if you are a job holder) and even domicile (domicile have your photo on it and is issued by government, so its accepted too).
Payoneer accepts national ID card (in Urdu). One of my friends submitted his national ID card and his account got verified. However, I recommend you to submit English language documents for faster approval.
by Aqeel Syed on May 11, 2010
iKobo the prepaid VISA card for international money transfer to 170 countries has launched a new service, iKobo for business. This service is similar to Payoneer’s partner program in which US based companies can send payments to associates (employs, freelancers, affiliates) worldwide.
How does it work?
- iKobo partners can load their iKobo account with funds from your U.S. bank account
- Distribute funds to their payees either one at a time or simultaneously
- Each recipient will be issued an iKobo Prepaid Card
- Funds are instantly loaded onto the cards and can be withdrawn from over 1 Million ATMs or used to make purchases at the over 20 Million merchants who accept Visa
iKobo is not likely to get effected by policies of US financial institution like what happened with Payoneer (earlier this month Payoneer banned 6 other countries and Pakistan due to strict financial regulation measures taken by US authorities). Ikobo is a non US company so chances are it will continue to provide its services to countries like Pakistan. Ikobo is managed by M2 Financial, Ltd, based in Antigua, West Indies. iKobo Prepaid Visa Card is issued by Global Bank of Commerce, Ltd Intigua & Barbuda, West Indies.
iKobo supports Pakistan, so if you are a freelancer you can request your work provider (individual) or company you are working with to add iKobo as a Payoneer alternative.
More information from official iKobo for business page.
by Aqeel Syed on May 5, 2010
Today Payoneer support provided details regarding ban and it appears that this ban is limited in nature, its not complete ban for Pakistani cardholders. So please don’t through away your card, keep it as you can still use it partially and have good hopes that this problem may get fixed soon.
Due to a change in requirements from our regulators, we are no longer able to issue cards to some countries listed by the US government as having strategic AML (Anti-Money Laundering) deficiencies.
After May 31st, you will no longer be able to use the card inside Pakistan. However, you will be able to make online purchases with international websites (that are not located in Pakistan). You will also be able to continue receiving payouts and private payments into your Payoneer account. Please note that you will be able to use the Payoneer card regularly outside of Pakistan at any place that accepts MasterCard.
It means,
- You will be able to use card outside of Pakistan at ATMs.
- You can still make payments to online merchants except Pakistani merchants.
- You will be able to receive private loads and partner payouts.
- No more new cards for Pakistani users.
- No ATM withdrawals within Pakistan or other restricted countries.
A good news for all those who have to pay hosting bills and was worried of service suspension. Also being an optimist I see opportunity in this situation, there are workarounds available for receiving payments from Payoneer after May 31st.
For example you can fund your MoneyBookers account from Payoneer card and then receive these funds using SWIFT transfer to your Pakistani bank account. You will lose extra few dollars but you will still be able to receive funds.
Something is better then nothing 
Meanwhile we should continue to air our voices so that Pakistani law makers may hear us.