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Naver Z Chooses Payoneer to Pay Content Creators Globally
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Payoneer (NASDAQ: PAYO) has partnered with Naver Z, a subsidiary of Naver Corp., focusing on the digital content creator economy. The collaboration facilitates quicker, more cost-effective payments for ZEPETO's 320 million users, enhancing opportunities for creators to expand their global clientele. Payoneer's global financial infrastructure aims to simplify cross-border transactions, allowing creators to tap into new markets. This partnership signifies Payoneer's commitment to enhancing the payment experience in the growing virtual economy.
Positive
Partnership with Naver Z enhances Payoneer's position in the content creator economy.
Facilitates faster and more cost-effective payments for ZEPETO's 320 million users.
Supports creators in expanding their businesses to new markets.
Negative
None.
The partnership marks Payoneer’s growth within Asia’s digital content creator economy and provides Naver Z’s users a quicker payment experience
NEW YORK & SEOUL, South Korea--(BUSINESS WIRE)--
Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, has been chosen by Naver Z, a subsidiary of Naver Corp., one of Asia’s largest internet companies and an early leader in the content creator economy, as their global payment provider. Naver Z owns ZEPETO, a global metaverse platform with 320 million registered users. This partnership marks Payoneer’s increased focus on the content creator industry, and how it connects entertainment platforms with their global ecosystem.
Payoneer will support ZEPETO’s content creators in their ability to expediently pay and get paid in multiple currencies and geographies helping scale the creator’s business through an expanding global clientele. By tapping into Payoneer’s unrivaled global financial infrastructure, Naver Z will be able to send payments to these creators more quickly, easily, and cost effectively than before. Together, Payoneer and Naver Z will help content creators reach previously untapped markets while being supported by a [more]secure and flexible payment solution.
“Opportunities to create income from the creative economy in virtual worlds continue to expand and it is essential that Naver Z is prepared to provide our creators with the best payment experience,” said Ricky Kang, Head of Business at Naver Z. “In addition to helping Naver Z improve the speed of payments, Naver Z’s partnership with Payoneer expands the economic opportunity for our creators by allowing them to sell into new markets and receive payments regardless of location.”
“Naver Z is a pioneer of content creation in the virtual world and Payoneer is thrilled to meet the needs of digital creators by reducing the friction that can exist in cross-border payments in the digital economy due to the nature of complex financial operating systems,” said Woo Yong Lee, Regional Head of East Asia at Payoneer. “We look forward to supporting the next phase of Naver Z’s growth and providing a quicker, more convenient payments platform for its 320 million international users.”
ZEPETO is a burgeoning metaverse that enables the next generation to experience the truly personalized identity in the virtual worlds. With over 320 million lifetime users, ZEPETO is the fastest growing avatar platform joined by the world’s most popular IP, Brands, Celebrities, and millions of Creators.
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.
