Payoneer Inc., a leading online payments company transforming the way businesses send and receive cross-border payments, has been selected by Amazon to expand cross-border payment options to sellers from 24 countries(1) who sell on marketplaces in the U.S., Spain, France, Italy, Germany and the UK.
As a featured payment solution for select countries within Amazon Seller Central, Payoneer provides a simple and convenient way for sellers from top markets including China, Japan and South Korea to receive their Amazon disbursements.
In cooperation with Payoneer, Amazon now allows sellers to sign up for Payoneer directly from Amazon Seller Central. Upon Payoneer registration, sellers receive online accounts that can collect Amazon disbursements, and that provide access to these disbursements through local bank account withdrawal or through the use of a Payoneer MasterCard®. This alliance marks the first time that Amazon has expanded Seller Central cross-border payment capabilities through alliance with an external payment solution.
"We're very excited to work with Amazon and support the needs of the rapidly growing cross-border e-tailing community by providing efficient and easy payments," said Scott Galit, CEO of Payoneer. "Amazon is the driving force in empowering the world of ecommerce by connecting buyers and sellers from all over the world. Today, marks yet another step in our mission to streamline every step of the payment cycle for both marketplaces and sellers."
Projections* show that eCommerce sales will reach $3.5 trillion within the next five years (12.4 percent of total retail sales) as more people around the world come online. With sellers in more than 100 countries, Amazon continues to remove barriers for its international sellers, enabling them to get paid locally as they grow their businesses worldwide.
1. Amazon Seller Central features Payoneer as a cross-border payment solution when sellers on marketplaces in the U.S., Spain, France, Italy, Germany and the UK elect to disburse to bank accounts in the following countries: China, Japan, South Korea, Thailand, Taiwan, Israel, Albania, Sweden, Turkey, South Africa, Argentina, Colombia, Russia, Malaysia, Mexico, Pakistan, Indonesia, Brazil, Nepal, Jordan, Sri Lanka, Vietnam, Cambodia, and Laos