A doubt of TOS regarding the use of the Payoneer debit card and cryptocurrencies

rPlayerrPlayer Member Posts: 4
Hello! I have a doubt regarding the use of the Payoneer debit card and cryptocurrencies:

I have read (multiple times) the TOS of both Payoneer services and Mastercard, and it seems you could buy crypto with the card because the TOS of Mastercard only specifies that you CAN't use it in gambling sites or for illegal activities. Futhermore, the TOS of Payoneer specifies you can't make / receive a payment for a long list of things (including crypto, food and groceries, crowdfunding, etc.) which is ridiculous for the purpose of the card.

And last but not least, I talked with a Payoneer representative and he make it clear that the TOS of the Payoneer debit card and Payoneer Services are separated. The list of "Prohibited transactions" only applies to Payoneer services, for example, the use of "Global Payment Service" and "Make a payment" features (which is logical why P2P transactions for currency exchange are pohibited, and why a list of users who did these operations were banned a few months ago). For example, you can check this discussion (https://community.payoneer.com/en/discussion/comment/174198#Comment_174198) where someone ask if the card is attached with those "Prohibited transactions" and can't buy food and groceries, and support answers that you can do that.

Here are the latest TOS for the date that I post this:
-Payoneer services: https://pubs.payoneer.com/legal/PayoneerTermsAndConditionsINC_Aug2021.htm
-Payoneer debit card (Mastercard): https://pubs.payoneer.com/legal/PayoneerCommercialDebitCardPEL_Jan2021.htm

So, in conclusion, Can I use the Payoneer debit card to buy cryptocurrencies?

Hope this information helped whoever read this. Also, hope a response for Payoneer support regarding this discussion!

Comments

  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 324 ✭✭✭✭✭✭✭
    edited September 28

    Hey @rPlayer this is a great question and you have shared a lot of important information with the community so thank you! We understand that you want to use your Payoneer card for purchasing cryptocurrencies.

    Payoneer does not restrict its cards from being used to purchase cryptocurrency. Please note that the card usage is still subject to the Card Terms and Conditions, you can view it through your online Payoneer account. Once logged in, click on Legal at the bottom of the page.

    Please note that based on a multitude of parameters there are different terms and conditions so each Account Holder should follow the steps in their own accounts to see their specific terms and conditions.

    It is also important to keep in mind that the card acceptance is subject to the merchant’s Terms and Conditions.

    Should you require further assistance please don't hesitate to contact us.

  • rPlayerrPlayer Member Posts: 4
    Hello, Hannah. Yes, this was a doubt that a lot of people I know and myself had. Thanks for clarify it!
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