eCommerce platform WooCommerce will soon make commerce payments technology company Payoneer’s Checkout plug-in available to its merchants across Asia, enabling them to start accepting payments from customers worldwide.
The Checkout payment acceptance solutions is designed for small- to medium-sized businesses (SMBs) that offer direct-to-consumer (D2C) sales and aim to offer cross-border commerce, according to a Monday (Oct. 24) press release.
“WooCommerce has made it easy for SMBs to sell online, and through our partnership with Payoneer in key regions, we are excited that more merchants around the globe will have increased access to cross-border payment acceptance,” WooCommerce General Manager of Payments Keala Gaines said in the release. “Payoneer provides a faster and safer way for global merchants to expand and grow sales while reducing complexity.”
Payoneer launched Checkout in May as an expansion of its product offering for SMBs around the world. The solution is available to eCommerce merchants in the Asia-Pacific (APAC) region and will gradually be extended to merchants around the world, according to the release.
Checkout creates a unified experience across multiple digital channels for eCommerce merchants. When merchants consolidate their funds across marketplace and D2C channels in Payoneer’s multicurrency accounts, they can also manage their accounts payable (AP), access working capital and pay for business expenses, the release stated.
“We launched Payoneer Checkout because we identified the need to remove barriers to global growth for small and medium businesses,” Payoneer President Keren Levy said in the release. “Through partnering with innovators like WooCommerce, we make it easier for merchants to get paid by their customers around the world with high acceptance rates and excellent customer experience.”
The launch of Payoneer Checkout marked the company’s move into the B2B2C space, allowing customers who sell directly to consumers to incorporate it on their eCommerce platforms.
Read more: SMB Sellers, Payments Surprisingly Resilient in the Face of Global Turmoil
Access to financial services is a key constraint to global growth for SMBs, especially since in emerging markets, doing business across borders is often the only way to meaningfully scale.
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