Payoneer Partners With EC21 to Grow Korean SMBs Globally
June 28 2022 - 8:00AM
Business Wire
Through Payoneer’s API integration for cross-border payments,
EC21 now makes it easier for SMBs to sell into over 190 countries
and territories
Payoneer (NASDAQ: PAYO), the commerce technology company
powering payments and growth for the new global economy, and EC21,
a Korean-based global B2B marketplace, have partnered to support
the cross-border business of Korean SMBs.
EC21 was founded in 2000 as a spin-off of the Korea
International Trade Association (KITA) eTrade Services division.
The EC21 marketplace connects millions of buyers and sellers from
around the world with Korean B2B companies’ online storefronts. In
addition to acting as a B2B marketplace, EC21 provides domestic
SMBs with consulting on overseas marketing and trade.
Under this partnership, EC21’s billing system will integrate
Payoneer’s ERP API service. This solution enables Korean SMBs to
manage their Payoneer accounts, analyze their revenue, and send and
receive payments in over 190 countries and territories, all
directly from within the EC21 platform.
EC21 is one of Korea’s largest B2B platforms, serving 90,000
Korean SMBs and 2.5 million SMBs around the world who market and
sell over seven million products in the online marketplace. EC21’s
user base spans geographies, including China (34%), the U.S. (13%),
and India (7%) and covers a range of B2B businesses, including auto
parts, agricultural goods, consumer electronics, and fashion
accessories and apparel. With 14 offices around the globe and
partnerships with other export promotion organizations such as the
Canada Export Centre and the EU Gateway Program for promoting EU
exports to Korea, EC21 integrates Korean SMBs with global
markets.
“With the new Payoneer partnership, EC21 can better support
domestic SMBs ready to explore and expand into overseas markets,”
said Young Look Song, CEO of EC21. “EC21’s marketplace and trade
promotion services, coupled with Payoneer’s rich cross-border
financial capabilities, makes EC21 a go-to partner for Korean
SMBs.”
“The partnership with EC21 will serve as catalyst for SMBs in
Korea to expand internationally and propel their business growth,”
said Woo Lee, VP Regional Head, East Asia of Payoneer. “Korean SMBs
now have the ability to buy and sell globally while paying and
receiving payments according to local preferences, making it easier
to partner with overseas suppliers and customers.”
For more information on EC21, visit https://www.ec21.com/. For
more information on Payoneer, visit www.payoneer.com.
About Payoneer
Payoneer is the world's go-to partner for digital commerce,
everywhere. From borderless payments to boundless growth, Payoneer
promises any business, in any market, the technology, connections
and confidence to participate and flourish in the new global
economy.
Since 2005, Payoneer has been imagining and engineering a truly
global ecosystem so the entire world can realize its potential.
Powering growth for customers ranging from aspiring entrepreneurs
in emerging markets to the world's leading digital brands like
Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a
universe of opportunities, open to you.
Forward-Looking Statements
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cause actual results to differ materially from current expectations
include but are not limited to the occurrence of any of the risks
and uncertainties set forth in the section entitled “Risk Factors”
and “Cautionary Statement Regarding Forward-Looking Statements”, as
well as any further risks and uncertainties contained, in
Payoneer’s Annual Report on Form 10-K for the period ended December
31, 2021 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
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version on businesswire.com: https://www.businesswire.com/news/home/20220628005405/en/
Investor contact Investor Relations
investor@payoneer.com
Media contact Irina Marciano PR@Payoneer.com
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