Waze Chooses Payoneer for a Secure Payment Service

Waze, subsidiary of the US group Alphabet, partners with a FinTech focusing on e-commerce and money transfer services. This agreement should make Waze Carpool drivers’ lives easier, based on Payoneer’s cross-border payment solution.

Currently available in Texas, in California and in Israel, Waze Carpool is a new carpooling service by the Israeli start-up Waze. It relies on connecting drivers using Waze GPS community platform (basically every-day “Wazers”), and passengers using the carpooling platform (commuters going in the same direction).

Unlike transport-for-hire services, Waze does not charge a commission on their users’ rides and restricts the use of this car-sharing program to two rides per day. Passengers have to pay 0.54 dollar per mile to the driver.

The challenge for Waze is to propose a fast and reliable means of payment to their users based on their own local currency; which explains why they selected Payoneer. The users can then pay for their rides from their mobile phone, to cover the cost of fuel paid by the driver.

Comments – A win-win partnership

Innovation in the FinTech world benefits many players from related industries, including in the field of mobility. And car-sharing companies make no exception. Waze’s route navigation app opted the FinTech Payoneer to improve their new carpooling service.

Payoneer has already attracted large groups, such as Getty Image, Google or Dailymotion. This start-up appropriately meets Waze’s demand as they are aiming to propose a user-friendly service.

Waze was bought out by Google in 2013. They have more than 90 million users worldwide. They want to provide drivers with a simple and flexible way to get paid in their local currency through their mobile phone, and Payoneer will be helping them expand their offers.