Payoneer and Fiserv Collaborate to Streamline Cross-Border Payouts for Businesses
June 07 2022 - 9:00AM
Business Wire
With access to B2B payout capabilities in more than 190
countries, large enterprises can offer a more localized customer
experience while lowering the cost of cross-border commerce
Payoneer (NASDAQ: PAYO), the commerce technology company
powering payments and growth for the new global economy, and Fiserv
(NASDAQ: FISV), a leading global provider of payments and financial
services technology solutions, have teamed up to streamline how
businesses deliver payouts to sellers, vendors, contractors, and
consumers across borders. The collaboration allows businesses to
access Payoneer’s payouts platform via the Carat operating system
from Fiserv, enabling the delivery of payouts all over the world,
while reducing the accompanying costs.
Cross-border payout volumes are growing globally, particularly
for businesses serving the gig economy and marketplaces. Merchants
are facing unprecedented opportunity and complexity as they do more
business across borders. According to McKinsey’s Global Payments
Map, international marketplace payouts accounted for as much as
$200-250 billion in volumes, a figure projected to grow by 20 to 30
percent annually in the coming years. In this increasingly digital
economy, businesses are finding that there is a gap between what
they need to compete and grow on a global scale, and what is
offered by existing solutions.
As enterprises increasingly engage with businesses and consumers
across borders, a need has developed to deliver funds to global
customers efficiently, while enabling an experience that meets the
requirements of international businesses and consumers. With access
to Payoneer through Carat, businesses will now have new payout
options in more than 190 countries and can settle in local
currencies, all while better serving their customers by offering
them the diverse payment options and currencies that fit the needs
of their local market.
“Today’s businesses realize that success and resilience against
the unexpected both necessitate a diverse global network of
customers and vendors,” said Robert Clarkson, Chief Revenue Officer
at Payoneer. “This has created exponential demand for easy and
secure payment solutions to support cross-border transactions.
We’re proud to partner with Fiserv to fuel the growth of our mutual
clients, and to move forward on our mission of giving businesses of
all sizes the tools to be successful locally and globally.”
“The Carat operating system delivers the solutions large
enterprises need to securely enable global pay-in and payout
capabilities without being limited by borders, currencies or old
ways of thinking,” said Robert Clayton, Vice President of Digital
Payouts at Fiserv. “Our collaboration with Payoneer furthers the
ability of our clients to move money and information globally,
enabling them to deliver a highly-localized payout opportunity to
their customers.”
To learn more, please visit https://www.payoneer.com/
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and
information in a way that moves the world. As a global leader in
payments and financial technology, the company helps clients
achieve best-in-class results through a commitment to innovation
and excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover® cloud-based point-of-sale and business management platform.
Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and
has been recognized as one of FORTUNE World's Most Admired
Companies® for 11 of the past 14 years and named among the World’s
Most Innovative Companies by Fast Company for two consecutive
years. Visit fiserv.com and follow on social media for more
information and the latest company news.
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
Payoneer’s Annual Report on Form 10-K for the period ended December
31, 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
undertake any duty to update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220607005232/en/
Investor Investor Relations investor@payoneer.com
Media Irina Marciano PR@Payoneer.com
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