Through this partnership, eBay is able to offer its sellers faster access to funds, greater flexibility managing multi-currency payments and expanded reach by enabling sellers to list on multiple international eBay sites.
The partnership kicked off in April 2021, with Payoneer taking over the management of payouts for eBay sellers from Greater China. eBay and Payoneer intend to expand the service to additional countries later in the year.
“Managing payments on our platform is a key component to enhancing the eBay experience for our customers,” said Alyssa Cutright, VP of Global Payments at eBay in a statement. “We’re excited to be partnering with Payoneer at a time of such growth for both our companies. Together, we will build on the momentum that ecommerce has seen in the past year, helping sellers transact with customers across borders with flexibility and security, all on a simple, modern platform.”
Payoneer recently announced plans to go public in Q2 2021 via a SPAC merger with FTAC Olympus Acquisition Corp.