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Payoneer and WooCommerce Partner to Simplify Checkout for Today’s Global Seller
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Payoneer has partnered with WooCommerce to launch the Payoneer Checkout plug-in, enhancing payment solutions for small and medium-sized businesses (SMBs) in the cross-border ecommerce sector. This integration aims to simplify payment acceptance globally, allowing merchants to consolidate funds in multi-currency accounts for easier management. The DTC ecommerce market is projected to reach $212 billion by 2024, highlighting the growth potential. WooCommerce, which powers 25% of top online stores, will enable more merchants to access Payoneer's services.
Positive
Launch of Payoneer Checkout on WooCommerce enhances SMB payment solutions.
Projected DTC ecommerce sales growth to $212 billion by 2024 stimulates market opportunity.
Consolidation of funds in multi-currency accounts simplifies financial management for merchants.
Negative
None.
The Payoneer Checkout plug-in, a payment acceptance solution built for SMBs specializing in cross-border ecommerce, will be available soon on the WooCommerce Marketplace
NEW YORK--(BUSINESS WIRE)--
Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, announces a partnership with WooCommerce that makes Payoneer Checkout available via a plug-in for small and medium-sized businesses (SMBs) that want to expand and grow through direct-to-consumer (DTC) sales globally.
Integrating with Payoneer Checkout allows WooCommerce merchants across Asia to simplify the way they set up their stores and start accepting payments from customers worldwide. Checkout was launched in May this year as an expansion of the company’s offering for SMBs. Making the solution available on the WooCommerce Marketplace represents a further expansion of Payoneer’s support for SMBs around the world. By consolidating all their funds across marketplace and direct sales channels in Payoneer's multi-currency accounts, merchants can manage their accounts payable needs, gain access to working capital, and use their funds to pay for business expenses such as digital advertising.
WooCommerce is the world’s leading open source ecommerce solution, powering 25% of the top million online stores.i DTC ecommerce sales in the US alone are projected to reach over $212 billion by 2024, more than doubling over 2020 levels.ii Consumer preferences are clearly changing: a recent Salesforce survey found that 64% of consumers regularly buy directly from a brand, up from 49% in 2019.iii Online merchants around the world are increasingly adopting omnichannel distribution strategies as digitalization of commerce makes it easier for even small businesses to reach customers on multiple channels and across borders.
Keala Gaines, General Manager, Payments, WooCommerce, said: “WooCommerce has made it easy for SMBs to sell online, and through our partnership with Payoneer in key regions we are excited that more merchants around the globe will have increased access to cross-border payment acceptance. Payoneer provides a faster and safer way for global merchants to expand and grow sales while reducing complexity."
Keren Levy, President, Payoneer, said: “We launched Payoneer Checkout because we identified the need to remove barriers to global growth for small and medium businesses. Through partnering with innovators like WooCommerce, we make it easier for merchants to get paid by their customers around the world with high acceptance rates and excellent customer experience. We’re very pleased to be partnering with WooCommerce as we work together on the journey towards a universal future for commerce that provides opportunities for all.”
Building on its leadership in marketplace payments and B2B payments, the launch of Payoneer Checkout created a unified experience for Payoneer's ecommerce merchants across multiple digital channels. It is available directly to those in Asia-Pacific and will gradually be extended globally. To sign up for Payoneer Checkout’s plug in for WooCommerce, please visit here.
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.
About WooCommerce
WooCommerce is the leading open source, ecommerce platform, powering 25% of the top million online stores (BuiltWith). Built on WordPress, WooCommerce empowers anyone, anywhere, to sell anything with truly unlimited extensibility, flexibility, and control over how they build and evolve their business. Launched in 2011 and acquired by Automattic in 2015, WooCommerce is a fully distributed company with employees based around the world. woocommerce.com
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,” “plan,” “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.
