Business
Payoneer to Offer Working Capital to Walmart’s Marketplace Sellers
Relationship helps Support Small Businesses with Resources to Meet Growing Demand and Fuel Growth NEW YORK--(BUSINESS WIRE)-- Payoneer (NASDAQ: PAYO), the
About this update from Payoneer Global Inc.
[{"type":"text","content":"\n Relationship helps Support Small Businesses with Resources to Meet Growing Demand and Fuel Growth\n\n NEW YORK--(BUSINESS WIRE)--\nPayoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, announced a new working capital offer for Walmart U.S. Marketplace sellers. Payoneer will now offer expanded Payoneer Capital Advance to Walmart Marketplace third-party sellers on Walmart.com. The program helps support Walmart’s sellers’ growth by offering a choice of three types of working capital offerings that suit different business needs. These instant cash flow solutions help empower sellers to grow by expanding into different product categories, preparing for peak seasons, growing into new markets and more.\n\nDuring the holiday season, access to working capital is especially crucial for online sellers. Since Capital Advance is tied to Walmart’s sellers’ marketplace earnings, collection is gradual, allowing them to maintain sufficient funds for day-to-day operations, while taking advantage of opportunities to inject capital into their business when it matters most.\n\n“Affordable working capital is more important than ever to help our sellers grow their business,” said Tomas Ponce De Leon, Senior Director, Marketplace Strategic Programs at Walmart. “Our relationship with Payoneer helps provide sellers access to multiple capital advance programs to meet their business needs.”\n\nPayoneer is now offering three flexible Capital Advance programs, allowing sellers to choose the settlement period and terms that best fit their business needs:\n\n\nCapital Advance Express – a short-term solution, with settlements over one month\n\n\nCapital Advance Grow – a mid-term solution, offering sellers access to more funds with a 3-month settlement period\n\n\nCapital Advance Plus – a longer-term solution, providing even more capital with a 6-month settlement period\n\n\n“While access to working capital is no new challenge for eCommerce sellers, we’ve seen unprecedented supply chain and logistics disruptions, coupled with swift changes in demand – making it harder than ever for sellers to manage cash flow and plan ahead,” said Scott Galit, Payoneer CEO. “We recognized the situation quickly and worked to expand Capital Advance to provide approved online sellers with instant access to the capital t...