Payments firm Payoneer has partnered with online marketplace Etsy to streamline payments for sellers in emerging markets.
The collaboration will utilise Payoneer’s global infrastructure to offer Etsy sellers more services and seamless payouts in their preferred currency.
It will initially be launched in Ukraine and Thailand, followed by India, Japan, Argentina, Chile, and Peru by the end of 2023.
The partnership is expected to help Etsy create economic opportunities for more entrepreneurs in emerging markets by making it easier for them to get paid for their goods and services.
Ya Wen
Ya Wen, SVP Americas at Payoneer said,
“As a leader in cross-border financial services technology, Payoneer will provide critical infrastructure to support Etsy in expanding its payments offering to sellers in emerging markets and navigating complex payment ecosystems.
This collaboration will help create opportunities for the often-underserved sellers in emerging markets, giving them better access to global demand. We look forward to working with Etsy to increase accessibility for sellers in other markets.”
Chirag Patel
Chirag Patel, VP & GM Payments and Risk at Etsy said,
“We’re excited to help sellers in emerging markets expand their reach with Etsy Payments, enabling safer and convenient shopping experiences.
Through this partnership, we are able to leverage Payoneer’s global reach and world-class payment technology to bring efficiencies at scale and provide seamless payouts to sellers in their local markets and the currency of their preference.”
