Payoneer and Etsy Partner to Streamline Payments for Sellers in Emerging Markets

Payment service provider Payoneer has joined forces with online marketplace Etsy to simplify payment processes for sellers in growing markets.

A Global Collaboration

The partnership aims to use Payoneer’s global infrastructure to provide more services to Etsy sellers, including seamless payouts in their preferred currency. The service will initially roll out in Ukraine and Thailand, with expansion plans to India, Japan, Argentina, Chile, and Peru by the end of 2023.

Facilitating Economic Opportunities

This collaboration is anticipated to aid Etsy in generating more economic opportunities for entrepreneurs in emerging markets. It will simplify the process for these sellers to receive payment for their goods and services.

Supporting Sellers in Emerging Markets

Ya Wen, SVP Americas at Payoneer, expressed the company’s commitment to supporting Etsy in expanding its payment offerings to sellers in emerging markets. The partnership will improve access for sellers in these markets, who are often underserved, enabling them to better tap into global demand.

Enhancing Seller Experience

Chirag Patel, VP & GM Payments and Risk at Etsy, conveyed excitement about the partnership’s potential to assist sellers in expanding their reach through Etsy Payments. The collaboration with Payoneer will bring efficiencies at scale and provide seamless payouts to sellers in their local markets and preferred currency, thereby enhancing the shopping experience.