Payoneer Decides to Shut Down the Domain Escrow Service They Launched Two Years Ago

Payoneer Decides to Shut Down the Domain Escrow Service They Launched Two Years Ago


Last
night I received an email from
Payoneer announcing they were
shutting down their domain escrow
service. It was signed simply
Matt Watts
(with no title to
indicate what his role at the
company is). However, a quick check
at LinkedIn
has him listed as Payoneer’s Head of
Enterprise Strategy & Business
Developing, starting this year.
Prior to 2018 he was Head of
Business Development, B2B
Services. 

Two
other Payoneer executives, Scott
Reynolds
and Brandon Abbey,
were the company representatives
most people in the domain world were
familiar with. Just this past
January they did a joint
presentation about Payoneer services
at NamesCon
in Las Vegas. After getting
the shutdown news from Watts I
learned that Reynolds (who had been
General Manager, B2B Services) had
left Payoneer in March to start his
own blockchain-related company TangoTrade.
I haven’t yet had a chance to
connect with Brandon (who served as
the highly regarded President of Escrow.com
before joining Payoneer where he has
been the Director of Strategic
Accounts) to see what is next for
him (either in a different role at
Payoneer or a new one that would
hopefully keep him in our industry
where he has been a leader since
2004).

In
January 2018 Director of Strategic
Accounts Brandon Abbey (left)
and the company’s GM for B2B
Services, Scott Reynolds,
detailing Payoneer’s domain escrow
services in a presentation at
NamesCon in Las Vegas. 

Here
is the full text of Matt Watts’s
email
announcing Payoneer’s exit
from the domain escrow space:

“It’s
with sincere apologies that I’m
sharing news that Payoneer is
discontinuing our escrow business.
While we have been excited and
honored to service prospects and
partners like yourself, after
careful review of our product
portfolio have decided to commit our
focus to other areas of the Payoneer
business. 

If
we can be of help to successfully
transition our relationship to other
Payoneer products that might support
your business, please let us know.
We offer a variety of money transfer
services such as mass payouts,
virtual bank accounts, invoicing
with credit card and bank transfer
payments, and other products, and
would be happy to support
exploration of our services.  

We
know the transition for some may not
be easy, but we are here to lend
guidance and flexibility where
possible. Thank you for your
business to this point and
understanding of our situation.
We’ve appreciated all you’ve
done in partnership with Payoneer.”

(Posted
July 11, 2018)
 

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