Sunday, 20 June 2021

Payoneer announces agreement with eBay

Payoneer, a global payment and commerce-enabling platform, announced that it is collaborating with eBay to enable sellers in select countries to get paid for their sales on eBay’s core marketplace. eBay has teamed up with Payoneer as part of its mission to modernize its marketplace, removing complexities and creating a more streamlined payment experience for sellers around the world. With the help of Payoneer, eBay sellers will benefit from faster access to funds, greater flexibility managing multi-currency payments and expanded reach by enabling sellers to list on multiple international eBay sites.

Starting in April 2021, Payoneer will manage payouts for eBay sellers from Greater China as eBay expands its management of payments around the globe. eBay and Payoneer intend to expand the service to additional countries later in the year.

For Payoneer, this agreement comes on the heels of its announcement that it will go public later this year through a business combination with a special purpose acquisition company. The wave of digitisation that has accelerated during the pandemic has further highlighted the importance of seamless global commerce, as more buyers and sellers transact across borders. Payoneer processed $44.4 billion in volume in 2020, a 53% increase from 2019.

“We are honored to partner with eBay, a true pioneer and giant in the world of ecommerce,” stated Scott Galit, CEO of Payoneer. “Their goal of creating a streamlined, modern marketplace that simplifies cross-border commerce is one that resonates deeply with us and our customers. As a commerce-enabler, it is our mission to work with sellers across every platform where they transact. We look forward to working with eBay to provide the best possible experience to sellers all over the world.”

“Managing payments on our platform is a key component to enhancing the eBay experience for our customers,” added Alyssa Cutright, Vice President of Global Payments at eBay. “We’re excited to be partnering with Payoneer at a time of such growth for both our companies. Together, we will build on the momentum that ecommerce has seen in the past year, helping sellers transact with customers across borders with flexibility and security, all on a simple, modern platform.”

Re-disseminated by The Asian Banker