An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Payoneer for Aggregators Partnership Program Launches
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Payoneer Global Inc. (NASDAQ: PAYO) has launched Payoneer for Aggregators, a program aimed at supporting e-commerce aggregators and third-party sellers. This initiative provides essential services like Capital Advance and Green Channel to help sellers grow and prepare for acquisitions. The program addresses the needs of around 5 million third-party sellers and caters to aggregators who have raised over $7 billion since April 2020. Notably, Razor Group has partnered with Payoneer to enhance global expansion strategies for online businesses.
Positive
Launch of Payoneer for Aggregators to support e-commerce aggregators.
Provides Capital Advance and Green Channel to facilitate seller growth.
Targets 5 million third-party sellers, addressing their needs effectively.
Partnership with Razor Group enhances global expansion for e-commerce brands.
Negative
None.
Program meets the complex needs of aggregators, while offering services to third-party sellers
NEW YORK & LONDON--(BUSINESS WIRE)--
Payoneer Global Inc. (“Payoneer”) (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, today announced: Payoneer for Aggregators, a new growth program for the e-commerce industry. Payoneer for Aggregators extends Payoneer’s services to acquisition firms focused on third-party sellers. The program is augmented by a suite of services aimed at helping sellers grow and prepare for an exit, including Capital Advance, a working capital offering and Green Channel, a marketplace onboarding service.
Today, there are approximately 5 million third-party sellers operating on Amazon, with more than 1 million sellers entering the online marketplace in 2020 alone. Due to their success, firms, known as aggregators, are on the lookout to acquire successful e-commerce brands for the purpose of scaling them globally, attracting over $7 billion in capital since April 2020. Payoneer’s program addresses this challenge from both sides, fueling seller growth to make them more attractive as an acquisition opportunity, while also solving the complex business needs of aggregators.
Payoneer for Aggregators
This partnership program offers aggregators a wide range of services geared towards driving expansion for global e-commerce brands, and designed for the needs of large, diversified, high-growth businesses. These services include local receiving accounts, competitive foreign exchange rates, supplier payment services and the Payoneer Digital Mastercard. Payoneer is also launching additional features tailored for aggregators, such as optimized onboarding, role management and permissions, as well as account consolidation.
Payoneer has announced the Razor Group as a marquee Payoneer for Aggregators partner. Razor is a leading aggregator in Europe, having recently closed financing of $400 million led by Victory Park Capital Advisors and BlackRock. As a skyrocketing company which was founded in August 2020, Razor has quickly accomplished what took other aggregators years. With over a decade of experience in building successful e-commerce brands, Razor combines experts and specialists of all fields which backs this soaring success.
Payoneer Fuels Seller Growth
Complimenting the Payoneer for Aggregators program, Payoneer also offers various growth services to sellers that are in the process of preparing for a potential exit, including those referred by the aggregators themselves. These growth services include working capital financing at industry-low rates, and access to new marketplaces via Payoneer’s Green Channel program.
“Many e-commerce sellers are finding they need support to grow their operations to fully tap into the exponentially growing opportunity. Payoneer’s comprehensive offering for sellers supports these businesses in scaling and makes them attractive to the aggregators. At the same time, we’re working with aggregators to meet their complex payment needs. This is what has always made Payoneer so unique in the market – we are a partner to both sides of the e-commerce network, and understand what businesses of all sizes need to grow in the new digital economy,” said James Allum, Payoneer VP and Regional Head of Europe.
“Partnering with Payoneer is grounded in our mutual mission to see online sellers succeed on an international scale,” said Jonas Diezun, Managing Director at Razor. “We acquire FBA businesses to transform brands into true global players, and with Payoneer, we’re creating a viable path for third-party merchants to see their brands expand globally with us.”
Operating at six offices worldwide, Razor knows what a true global player looks like. Their 300+ employees are scattered across three continents, yet work together as one unit coming together to make the acquired brands grow as much as the company itself. With a clear focus on carefully selected categories, Razor is committed to generating long-term value and reaching superior customer satisfaction - pursuing the goal to catapult e-commerce merchants to the next level - and transform them into serial entrepreneurs.
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 the prospectus filed by Payoneer on August 6, 2021. 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 undertakes any duty to update these forward-looking statements.
