Ebay has partnered with the global payments platform Payoneer after announcing a partnership with PayPal later this year.
In February last year, Ebay announced that it would end its deep-rooted relationship with PayPal and launch its own “managed payment experience” for both buyers and sellers.
The former synonymous pair divorce continued throughout last year, and Ebay was the first to roll out payment options such as credit cards, Google Pay, and Apple Pay with PayPal via the iPhone and iPad.
The partnership with Payoneer allows “sellers in certain countries to be paid for sales on Ebay’s core marketplace.”
Ebay sellers will benefit from faster access to funds, greater flexibility in managing multi-currency payments, increased reach, and the ability to list on multiple international Ebay sites.
Alyssa Cutright, vice president of global payments on eBay, said:
Together, we build on the momentum that e-commerce has seen over the past year, allowing sellers to trade with customers across borders with flexibility and security, all on a simple, modern platform. We support. “
read more: As PayPal’s divorce continues, Ebay sellers will soon be forced to link their bank accounts.
Founded in 2005, the payments company has previously worked with Airbnb, Amazon, Google and Upwork.
The service launched in Greater China last month and eBay said it will expand to other parts of the world later this year.
The partnership is behind the announcement that Payoneer will publish through SPAC (Special Purpose Acquisition Company) later this year.
Payoneer processed $ 44.4 billion in trading volume last year. This is a 53% increase from 2019 figures after accelerated e-commerce growth during the pandemic.
Scott Galit, Payoneer’s CEO, said: “We are honored to partner with eBay, a true pioneer and giant in the world of e-commerce.”
“Their goal of creating a streamlined, modern market that simplifies cross-border commerce is deeply in sympathy with us and our customers.
“As a Commerce Enabler, it is our mission to work with sellers on all trading platforms. We work with Ebay to provide sellers around the world with the best possible experience. I’m looking forward to that. “
Ebay Replaces PayPal with Payoneer-Latest Retail Technology News from All Over the World
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