Hyderabad: Global payments company, Payoneer, which provides cross-border payments services for the business-to-business (B2B) sellers and small and medium businesses (SMBs) segment, is seeing growth in adoption of their payments platform in India. Payoneer has more than 4 million active businesses on the platform and work with more than 2,000 enterprise customers across the globe.
Payoneer enables transaction in over 150 currencies and in 200 countries including US, UK, Ukraine, China and Japan and has local clearing systems in about 100 countries.
In the past few years while the e-commerce industry in India has gained popularity, cross-border commerce too has gained prominence. Sellers and SMBs from tier 2 and 3 cities have not restricted in expanding their businesses locally but are eyeing to go global. To turn an online business into a success across geographies, having good quality products or services and opening a good website is not enough for these companies. There are a host of other services such as effective marketplace, trading laws in different countries, tax system, security measures and timely reminders to buyers for the payment become important.
Cross-border payment platforms provide an ecosystem which takes care of a seller’s entire back-end structure so that the seller can concentrate only on expanding the business globally and meet new customers.
Rohit Kulkarni, country manager, Payoneer, told Telangana Today, “We work across the entire spectrum of exporters. Currently, we are seeing increased momentum among ecommerce sellers, service providers such as mobile app developers, software companies and freelancers. Payoneer has a partnership with over 2,000 enterprise clients across the world which also includes some of the largest ecommerce marketplaces such as Amazon, Wish, Tophatter, Cdiscount, Lazada, Rakuten spread across countries and regions such as the USA, Canada, Europe (France, Germany, Italy, Spain) and UK, Australia and South East Asia etc.”
Payoneer not only helps sellers receive payments from these marketplaces, but also helps onboard sellers on these marketplaces and get them help from marketplaces to handhold the sellers.
“We provide core end-to-end system with partner ecosystem, logistics, etc. thus, helping the sellers grow their revenue with new customers across more marketplaces and geographies. Over the past few years, we have recorded aggressive growth multiples and continue to do so. As an organisation, our primary focus is to do what is right for the customer. Our aim is to work with every business in India who has global customers or has the potential to go global and compete with international businesses. We strive to make it easy, low cost and efficient for them. In 2019, we expect our growth momentum to continue as in 2018,” added Kulkarni.