Payments commerce technology platform Payoneer and payments and financial services tech company Fiserv on Tuesday (June 7) partnered to streamline how businesses deliver payments to their sellers, vendors, contractors and consumers across borders, according to a joint press release.
Businesses can now access Payoneer’s payouts platform through the Carat operating system from Fiserv, reducing the accompanying costs of global payouts, per the release.
According to McKinsey’s Global Payments Map, international marketplace payouts accounted for as much as $200 billion to $250 billion in volumes, a figure projected to grow by 20% to 30% per year in the coming years.
“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.”
Through Carat, Payoneer gives businesses new payout options in more than 190 countries and can allow them to settle in local currencies.
“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.
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“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,” Clayton continued.
Last week, Payoneer teamed with Shoplazza to allow merchants to access new direct-to-consumer payments acceptance on Shoplazza’s Shopping Cart Software-as-a-Service (SaaS) offering.
Related: Shoplazza Merchants Now Can Accept Cross Border Payments With Payoneer Checkout
Merchants can accept pay directly from customers worldwide, unifying earnings at their webstores and marketplaces. Shoplazza’s services include a SaaS platform that lets brands start and manage online stores.
Payoneer Checkout was designed for online sellers, consolidating receiving funds across marketplace and direct sales channels. It will let the merchants deal with accounts payable, get more working capital and use funds to pay for digital ads and other such things.
