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NEW YORK, NY, March 01, 2012 /24-7PressRelease/ -- PassportCard, a development by David Shield and Israel Phoenix Insurance Company Ltd recently won an international innovative award in the credit card arena. This project was presented in a competition conducted by Payoneer, where hundreds of credit cards worldwide were represented.
David Shield is a privately held company, with offices in New York, Beijing, Moscow, and Israel that manages hundreds of leading global corporate accounts and who since 2000 act as the overseas medical insurance division of several insurers worldwide. Alon Ketzef, founder and Chief Executive Officer of David Shield quotes: "PassportCard, which we have recently begun to market, is in our opinion the best in the world, and has caused a massive revolution in this consumer's field. The victory most certainly assists us in penetrating the product into more and more markets".
PassportCard is a magnetic debit card that allows you to cover your travel and medical insurance while overseas. Each traveler may purchase the insurance at a changeable premium before he travels, according to the nature of his business. The traveler receives the card which can be used at hundreds of thousands of medical institutions and doctors worldwide, just like the use with a regular credit card.
The card allows the traveler to pay for his medical treatment by debit card whereby up until now, each traveler has been obligated to pay for his insurance direct from his own pocket and only on his return, submit a claim to receive reimbursement from the insurance company. PassportCard simplifies matters and eliminates the insurer from submitting a claim, avoiding unnecessary bureaucracy and haggling with the insurance company which very often is involved.
Yuval Tal, founder of Payoneer also states that PassportCard is the latest in insurance payment options and is the most ingenious in the field of travel overseas.
Payoneer was established in 2005 by Tal offering companies secure and efficient payout solutions over the web. Originally set up for direct payments online to Prepaid Debit MasterCard Cards, Payoneer administers the handling of millions of transactions daily.
With over 100 professionals employed at its main offices in New York and in Israel, the company is financially backed by Greylock Partners and Carmel.
Yuval Tal carries with him more than two decades of knowledge in the payment solutions industry via the internet. He began his line of business in Radware, a Nasdaq listed company whereby he held the role of VP business development. In 1999 he advanced to R-U-Sure Ltd as general manager. He went on to co-found E4X, the world's first most Internet payment solutions enterprise which was rebranded to FiftyOne in 2007, grossing over $500M in the first five years. With headquarters in New York and the R&D facility in Israel, customers have the ability to handle international orders while carrying out payments in various currencies and at the same time mastermind their operations.
For more information visit Payoneer at www.payoneer.me or Yuval Tal Story- Website
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