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Linnworks To Simplify Cross Border Payments With Payoneer Partnership
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Payoneer (NASDAQ: PAYO) has partnered with Linnworks to enhance cross-border and B2B payment processing for online retailers. This partnership integrates payment options into the Linnworks platform, allowing merchants to manage payments to suppliers effectively. With improved currency conversion rates, retailers can reduce cross-border fees and expand their marketplace capabilities. Payoneer's SVP highlighted that the collaboration aims to empower businesses in the digital economy, while Linnworks' CEO expressed enthusiasm for increasing customer value through simplified payment management.
Positive
Partnership simplifies cross-border and B2B transactions for retailers
Merchants gain integrated payment options, reducing cross-border fees
Allows online sellers to expand marketplace offerings with local payment management
Negative
None.
The partnership provides merchants with payment options integrated within the Linnworks e-commerce platform, simplifying the way online sellers expand into additional marketplaces
NEW YORK--(BUSINESS WIRE)--
Linnworks, a UK-based e-commerce technology company, has today announced a partnership with the global leader in commerce technology and payments Payoneer (NASDAQ: PAYO) to simplify cross-border and B2B transactions for their customers. The partnership will provide retailers with integrated options to receive funds and make payments with competitive currency conversions while creating an increased opportunity for online sellers to expand their marketplace offering.
This partnership enables retailers to make payments to suppliers within their Linnworks purchase orders while managing their accounts via Payoneer within the Linnworks management system. As a result, merchants can reduce cross-border fees and globalize their business while getting paid locally.
Speaking on the partnership, James Allum, SVP and Regional Head of Europe at Payoneer, said:
“Our partnership with Linnworks is a crucial step in our journey towards empowering every business with the tools to participate in the global digital economy. By integrating our solutions, sellers will reduce their costs while gaining opportunities to expand their business via new markets.”
Callum Campbell, CEO of Linnworks, said:
“We’re very excited to form this partnership which we believe will deliver great value to our customers. This new integration will make it easier for Linnworks users to expand their marketplace operations across borders. With the help of Payoneer, businesses will be in full control of how they manage their funds and payments, in both domestic and foreign currency.”
You can read the Linnworks blog for more information about this integration and how Linnworks and Payoneer are working together to support their customers.
About Linnworks
Linnworks is a leading commerce automation platform that enables the world’s major brands and retailers to manage their omnichannel inventory, orders and fulfillment from a single dashboard, while providing deep insights across operations. By equipping brands and retailers to conduct commerce wherever their customers are, Linnworks powers businesses to drive growth and boost brand success. As both Amazon and eBay’s largest European commerce partner, Linnworks processes over $9 billion GMV each year globally and serves some of the world’s largest, most recognizable brands. For more information, please visit www.linnworks.com.
About Payoneer
Payoneer is the world's go-to partner for digital commerce, everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy.
Since 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realize its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world's leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a universe of opportunities, open to you.
Forward-Looking Statements
This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered “forward-looking statements”. Forward-looking statements generally relate to future events or Payoneer’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to the occurrence of any of the risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements”, as well as any further risks and uncertainties contained, in Payoneer’s Annual Report on Form 10-K for the period ended December 31, 2021, and future reports that Payoneer may file with the SEC from time to time. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Payoneer does not undertake any duty to update these forward-looking statements.
