Payoneer, a financial technology company empowering the world’s small- and medium-sized businesses (SMBs) to transact, do business and grow globally, announced a collaboration with global online marketplace, Etsy, to support its bespoke seller offering, Etsy Payments. The collaboration will enable Etsy to streamline payments to sellers and help create economic opportunities to more entrepreneurs in emerging markets.
Etsy Payments is the core of Etsy’s payment technology and enables flexible and secure payments infrastructure to both buyers and sellers. The collaboration between Payoneer and Etsy will utilise Payoneer’s global infrastructure to offer greater services and seamless payouts to sellers in the currency of their preference. It will initially be launched in Ukraine and Thailand, followed by India, Japan, Argentina, Chile and Peru by the end of 2023.
Ya Wen, SVP Americas at Payoneer, said: “This collaboration will help create opportunities for the often-underserved sellers in emerging markets, giving them better access to global demand.”