Payoneer terminate Achieve Community processor services
Payoneer is the processor and they do not take on ponzi’s or pyramid schemes. None of the fly-by-night programs can even dream of Payoneer.
-Achieve Community affiliate on social media, 5th November 2014
Another day, another pyramid cycler has their payment processor services terminated.
On their website Payoneer claim they
enable millions of businesses and professionals from more than 200 countries to reach new audiences by facilitating seamless, cross-border payments.
Additionally, thousands of leading corporations including Google, Airbnb, Elance-oDesk and Getty Images rely on Payoneer’s mass payout services.
News broke today that the company has effectively terminated the payment processor services it is providing Achieve Community and its affiliates.
In a backoffice update published a few hours ago, the Achieve Community advised:
Hello Achieve member –
We are sending the email because you have gone through the matrix and been paid.
If you have a debit card and funds in your Payoneer account please take your card to your bank and withdraw the funds, use an ATM, or shop (or all three) within the limits on your account between now and the end of November and remove all funds from your account.
Payoneer will not be working with our Achieve accounts after November 30th. (Eastern Time USA).
Whether or not Achieve Community has had any funds frozen is unclear, but it seems that accounts belong to its members are being terminated at the end of the month.
I haven’t seen anything official from Payoneer at this stage, but the story being fed Achieve Community affiliates is problems with transaction volume.
Achieve Community co-founder Troy Barnes writes,
We have Paid out $2,760,000 Million to our members in the last 19 weeks.
The only reason that Achieve is not paying out today is that our processor can’t handle the volume of Money we are paying our members.
The only reason?
Google, Airbnb, Elance-oDesk, Getty Images… none of these multi-million/billion dollar companies have any issues using Payoneer, yet if the founders of Achieve Community are to be believed, Payoneer can’t handle a few million?
Yeah. Not buying it.
In a similar update, Barnes’ partner Kristi Johnson elaborated further:
Since we can’t payout until we find a replacement, we disabled all sign ups and repurchases – we aren’t going to take in money until we can pay it out.
To be completely honest I don’t know what affect (sic) this will have on our momentum….I’ve never seen a community with the spirit of Achieve and can’t help but believe we can continue to flourish once we have new processors….I hope you all agree.
I can’t tell you how long this will take, I have meetings tomorrow and Friday set up to talk with several companies and banks that have an interest in working with us, but it takes them time to assess us before they come on board.
The positive side of this is that we will be showing them what we’ve done so far and know they will be prepared for us and able to accommodate our growing needs….so whatever we do it will be lasting!
As soon as there is more information you will hear it. We aren’t going anywhere. We won’t stop until we have a solution.
On their website, Payoneer also write that they are
a licensed and registered e-Money issuer across the EU and Money Service Business (MSB) in the US.
We strictly comply with KYC, OFAC, AML, and the requirements of the Bank Secrecy Act (BSA), including provisions in Title III of the USA PATRIOT ACT, and we are also certified at a Payment Card Industry (PCI) Level 1 Data Security Standard.
I guess if Achieve Community wish to continue as Johnson has indicated, then they’ll have to find a new payment processor who isn’t any of the things Payoneer is above.
Good luck with that.
Footnote: Thanks to the BehindMLM readers who provided the source material for this article.