Payoneer to Offer Working Capital to Walmart’s Marketplace Sellers
December 07 2021 - 8:00AM
Business Wire
Relationship helps Support Small
Businesses with Resources to Meet Growing Demand and Fuel
Growth
Payoneer (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.
During 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.
“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.”
Payoneer is now offering three flexible Capital Advance
programs, allowing sellers to choose the settlement period and
terms that best fit their business needs:
- Capital Advance Express – a short-term solution, with
settlements over one month
- Capital Advance Grow – a mid-term solution, offering
sellers access to more funds with a 3-month settlement period
- Capital Advance Plus – a longer-term solution, providing
even more capital with a 6-month settlement period
“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 they
need to reinvest into their business, and the flexibility to choose
the terms that suit their needs. We’re proud to continue building
on our relationship with Walmart, rolling out the expanded Capital
Advance offering to their sellers.”
To learn more, please visit
https://www.payoneer.com/solutions/working-capital/
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
This press release includes, and oral statements made from time
to time by representatives of Payoneer, may be considered
“forward-looking statements”. Forward-looking statements generally
relate to future events or Payoneer’s future financial or operating
performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expect,”
“intend,” “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 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 the
prospectus filed by Payoneer on August 6, 2021. 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 undertakes any duty to
update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20211207005385/en/
Investor contact Ignatius Njoku Investor Relations
investor@payoneer.com Media contact Irina Marciano
PR@Payoneer.com
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