Ebay has announced it is to partner with global payment platform Payoneer, saying it “plays an important role in supporting payouts for Ebay’s sellers in select countries”.
In February last year Ebay announced that it was ending its deeply embedded relationship with PayPal and launching its own ‘managed payment experience’ for both buyers and sellers.
The once synonymous pair’s divorce has been ongoing throughout the last year, seeing Ebay roll out payment options alongside PayPal including credit cards, Google Pay, and Apple Pay via iPhones and iPads for the first time.
The partnership with Payoneer will “enable sellers in select countries to get paid for their sales on Ebay’s core marketplace”.
Ebay sellers will benefit from faster access to funds, greater flexibility when managing multi-currency payments and expanded reach as well as the ability to list on multiple international Ebay sites.
“We’re excited to be partnering with Payoneer at a time of such growth for both our companies,” Ebay vice president of global payments Alyssa Cutright said
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.”
The payment company, founded in 2005, has previously worked with Airbnb, Amazon, Google and Upwork.
The service started last month in Greater China and Ebay say it will expand to the rest of the globe later this year.
The partnership comes off the back of Payoneer’s announcement it will go public later this year through a SPAC (Special Purpose Acquisition Company).
Payoneer processed $44.4 billion in volume last year, a 53 per cent increase on 2019’s figures after the ecommerce growth was accelerated during the pandemic.
Payoneer chief executive Scott Galit added: “We are honored to partner with eBay, a true pioneer and giant in the world of ecommerce.”
“Their goal of creating a streamlined, modern marketplace that simplifies cross-border commerce is one that resonates deeply with us and our customers.
“As a commerce-enabler, it is our mission to work with sellers across every platform where they transact. We look forward to working with Ebay to provide the best possible experience to sellers all over the world.”
While Adyen remains eBay’s primary payments processing partner for payment acceptance in all countries Ebay manages payments in, the new agreement with Payoneer facilitates payouts to sellers in select countries.