Payoneer and Etsy partner to make it easier for sellers in emerging markets to get paid
25 Octubre 2023 - 2:00PM
Business Wire
Payoneer will support Etsy in its expansion of Etsy Payments
into emerging markets
Payoneer (NASDAQ: PAYO), the financial technology company
empowering the world’s small and medium-sized businesses (SMBs) to
transact, do business, and grow globally, announced a collaboration
with global online marketplace Etsy (NASDAQ: ETSY), to support its
bespoke seller offering, Etsy Payments. The collaboration will
enable Etsy to streamline payments to sellers and help create
economic opportunities to more entrepreneurs in emerging
markets.
Etsy Payments is the core of Etsy’s payment technology and
enables flexible and secure payments infrastructure to both buyers
and sellers. The collaboration between Payoneer and Etsy will
utilize Payoneer’s global infrastructure to offer greater services
and seamless payouts to sellers in the currency of their
preference. It will initially be launched in Ukraine and Thailand,
followed by India, Japan, Argentina, Chile, and Peru by the end of
2023.
Ya Wen, SVP Americas at Payoneer, commented:
“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 are
delighted to be working with such an established brand. We look
forward to working with Etsy to increase accessibility for sellers
in other markets.”
Chirag Patel, VP & GM Payments and Risk at Etsy,
commented:
“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. We look
forward to working with Payoneer to provide new economic
opportunities for entrepreneurs around the world.”
About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect
millions of passionate and creative buyers and sellers around the
world. These marketplaces share a mission to "Keep Commerce Human,"
and we're committed to using the power of business and technology
to strengthen communities and empower people. Our primary
marketplace, Etsy.com, is the global destination for unique and
creative goods. Buyers come to Etsy to be inspired and delighted by
items that are crafted and curated by creative entrepreneurs. For
sellers, we offer a range of tools and services that address key
business needs.
Etsy, Inc.'s "House of Brands" portfolio also includes fashion
resale marketplace Depop and musical instrument marketplace Reverb.
Each Etsy, Inc. marketplace operates independently, while
benefiting from shared expertise in product, marketing, technology,
and customer support.
Etsy was founded in 2005 and is headquartered in Brooklyn, New
York.
About Payoneer
Payoneer is the financial technology company empowering the
world’s small and medium-sized businesses to transact, do business
and grow globally. Payoneer was founded in 2005 with the belief
that talent is equally distributed, but opportunity is not. It is
our mission to enable anyone anywhere to participate and succeed in
the global digital economy. Since our founding, we have built a
global financial platform that has already made it easier for
millions of SMBs, particularly in emerging markets, to pay and get
paid, manage their funds, and grow their business.
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” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events or Payoneer’s future financial or operating
performance. For example, projections of future revenue,
transaction cost and adjusted EBITDA are forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expect,”
“intend,” “plan,” “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: (1) changes in
applicable laws or regulations; (2) the possibility that Payoneer
may be adversely affected by geopolitical and other economic,
business and/or competitive factors; (3) Payoneer’s estimates of
its financial performance; (4) the outcome of any known and/or
unknown legal or regulatory proceedings; and (5) other risks and
uncertainties set forth in Payoneer’s Annual Report on Form 10-K
for the period ended December 31, 2022 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.
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Investor: investor@payoneer.com
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