oDesk Expands Provider Payment Options with Payoneer and the oDesk Debit MasterCard

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Remote Workers From Around the World Can Now Access Their Earnings Faster and More Cost-Effectively Than Ever Before

oDesk typifies the innovative Internet companies that realize payment is more than just a process for moving money - it's an opportunity for creating a unique company identity and truly reducing costs for payees

Today oDesk (http://www.oDesk.com), an online marketplace that allows companies to hire, manage and pay remote technical workers around the world, announced that oDesk providers can now sign up to receive an oDesk prepaid Debit MasterCard to access their earnings from anywhere in the world. The oDesk prepaid Debit MasterCard, powered by Payoneer, a provider of Web solutions for paying people worldwide, will be available to freelance providers and affiliate managers on oDesk in May 2007. oDesk is the only remote work marketplace to offer its providers a prepaid debit card as a payment option.

The oDesk prepaid Debit MasterCard will allow oDesk's global providers to receive their earnings paid in U.S. dollars directly onto their card. Using the card, recipients can withdraw cash from any Automated Teller Machine (ATM) with a MasterCard logo worldwide, and make debit purchases anywhere that MasterCard is accepted, in stores or online. With some of the lowest fees and best exchange rates of any international payment method, the oDesk prepaid Debit MasterCard will enable faster, easier access to funds for providers, who in many countries face limited, costly options when it comes to receiving international payments.

"More and more software developers and technology freelancers are working for overseas companies, taking advantage of better pay and more opportunities than are typically available in their local markets," said Gary Swart, chief executive officer of oDesk. "By offering the new oDesk prepaid Debit MasterCard, we're giving our providers a faster, simpler and more secure way to access their earnings and we hope to continue to encourage them to look beyond the horizon for exciting job opportunities."

oDesk is a marketplace for remote technology workers that offers a unique set of integrated management and collaboration tools to help employers track project progress and collaborate with team members as though all were working in the same office. There are currently more than 11,000 providers from 50 countries working for thousands of companies worldwide through the oDesk platform. The company recently announced that more than $10 Million has been spent on outsourced technology jobs through its remote work marketplace.

"oDesk typifies the innovative Internet companies that realize payment is more than just a process for moving money - it's an opportunity for creating a unique company identity and truly reducing costs for payees," said Yuval Tal, CEO and founder of Payoneer.

Payoneer manages the Web payout business for leading firms in the Internet economy. With thousands of co-branded cards under management worldwide that meet the highest security and card issuing standards, Payoneer helps companies pay out their partners cost-effectively, everywhere. Cards are quickly reloaded, and enable recipients to easily check their balance and transaction history online, 24/7. If a card is ever lost or stolen, Payoneer will cancel the card and transfer the remaining balance to a new replacement card.

About oDesk
Every day, oDesk helps people all over the world work together, as if they were seated in the same office. Founded in 2004, oDesk (http://www.oDesk.com) is a global marketplace for programmers and technology freelancers that enables businesses to build and manage remote teams. Hiring managers can search the oDesk network and choose from among thousands of tested, top-rated technology professionals in over 50 countries around the world. Using oDesk web-based collaboration tools, project managers can visually track and verify all work performed, both historically and in real-time. oDesk is venture-backed by Benchmark Capital, Globespan Capital Partners and Sigma Partners.

About Payoneer Inc.
Founded in 2005, Payoneer Inc. provides hosted payout solutions for companies that pay people worldwide using prepaid debit MasterCard®, wire transfers, and e-checks. The company targets affiliate networks, video sites, Internet payment service processors (IPSP's), and any other company that pays out to people on the Internet. Payoneer is a registered MSP with MasterCard Worldwide, and an approved partner of Royal Bank of Scotland, with its RBSLynk solution, and First Bank of Delaware. The company is based in New York, maintains its R&D center in Tel Aviv, and is privately held with venture funding from Greylock Partners and Crossbar Capital. For more information, please visit http://www.payoneer.com.

MasterCard is a registered trademark of MasterCard Inc. Payoneer is a trademark of Payoneer, Inc. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.


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