Moroccan Software Engineer, Ayoub Izm, Discusses Payoneer
Tell us about yourself and what you do:
My name is Ayoub IZM, and I’m a computer science engineer from Morocco. Currently, I’m the lead developer and co-founder of Wishloop which is a SaaS software operating in the lead generation and conversion optimization business.
How did you become familiar with Payoneer?
Back in early 2012, I was studying and working on several projects for local clients as a freelancer, developing and selling WordPress plugins on Envato. Back then, I got paid via international bank transfers, which took at least 8 business days to get processed. Plus, they were expensive, as local banks would charge an extra transaction fee in addition to the low currency exchange rate.
So I began looking for a better, more efficient, faster, and easier solution to receive my online earnings. I first tried PayPal because it’s the most well known, but soon learned that for many countries (including mine) it offered no way to withdraw my money to a local bank account. While exploring Envato’s supported payment methods, I found that Payoneer is a partner of Envato’s, and decided to give it a try. More than three years have passed since, and I have never looked back!
Can you tell us which of Payoneer’s services are most useful to you?
- Global Payment Service: In early 2015, I was a vendor at ClickBank. Given my previous successful experience with Payoneer, I didn’t hesitate to use it again as the primary payment method. Specifically, I used Payoneer’s Global Payment Service, which allows international companies such as ClickBank and PayPal (among others) to make payments into a local receiving account in their local currency, which transfers directly to my Payoneer account. A lot of times, international companies don’t want to deal with paying internationally, so this allows freelancers like me to minimize the stress on those companies by providing means of paying a local bank account.
- Local Bank Withdrawal: This is one of the best features of the Payoneer account, letting me withdraw money from my Payoneer account right to my local bank account. So, I typically use the Global Payment Service to get my funds to my Payoneer account, and from there I can either withdraw those funds to a local bank account or to the Payoneer Prepaid Mastercard, which I will discuss below. The most important thing is that the funds are7 transferred in my country’s local currency, which means it is extremely low cost and a very short transfer time (sometimes less than 24 hours!).
- ATM Withdrawals and Online Purchases: Using the Payoneer Prepaid Mastercard, I’m free to withdraw my money from any ATM around the world. I can also use my card pretty much anywhere both in store or online, which means I can avoid the local bank’s high transaction fees and delays entirely.
To be honest, it is thanks to Payoneer that I was able to take advantage of several exciting opportunities, explore different international markets, and connect with clients from all over the world – without ever having to worry about how and where I’d be receiving my earnings!
Would you like to share your story with the Payoneer community? Please send us an email at community@payoneer.com .