Business
Payoneer for Aggregators Partnership Program Launches
Program meets the complex needs of aggregators, while offering services to third-party sellers NEW YORK & LONDON--(BUSINESS WIRE)-- Payoneer Global Inc.
About this update from Payoneer Global Inc.
[{"type":"text","content":"\n Program meets the complex needs of aggregators, while offering services to third-party sellers\n\n NEW YORK & LONDON--(BUSINESS WIRE)--\nPayoneer 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.\n\nToday, 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.\n\nPayoneer for Aggregators\n\nThis 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.\n\nPayoneer 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.\n\nPayoneer Fuels Seller Growt...