Payoneer, Waze form new partnership to power local payments for Waze Carpool

Payoneer, a cross-border payments company, has announced that Waze uses its services to power local payments for Waze Carpool.

Waze Carpool connects riders and drivers with similar routes to commute together and reduce cars on the road.

Unlike transport-for-hire services, Waze Carpool drivers are everyday Wazers and do not earn a salary. Instead, commuters use the new Waze Carpool app to find a match traveling in the same direction; riders then use the app to pay the driver a rate up to the federal mileage rate to cover the cost of gas and wear and tear.

With Payoneer, Waze provides drivers an easy way to receive payments through their mobile phones, backed by secure data protection technology.

Waze, which was acquired by Google in 2013, has over 90 million users around the world. Waze Carpool is now fully live in Texas, California and Israel, with plans to expand soon.

As a company that interacts with users entirely through its app, Waze needed to find a payment provider that would offer seamless mobile payments for a smooth user experience.

Waze also wanted to offer commuters a truly local experience, so payments needed to be easily withdrawn to a local bank account, in the driver’s local currency. Most importantly, the company needed to offer users the level of security in their payments that is expected of the world’s largest internet company and Payoneer was a clear choice.