Coupang and Payoneer Partner to Help Millions of Sellers Operate in One of the World’s Largest Ecommerce Marketplaces | Business and finance
NEW YORK – (BUSINESS WIRE) – October 25, 2021–
Payoneer (NASDAQ: PAYO), the business technology company that powers payments and growth for the new global economy, and Coupang, one of Asia’s largest e-commerce companies, today announced a new partnership that will provide hundreds of thousands of sellers from all over the world with the opportunity to expand and sell more easily in South Korea. By leveraging Payoneer’s technology and expertise to enhance Coupang’s payment capabilities, sellers on Coupang can now enjoy smoother payments for their cross-border business.
One of Asia’s leading e-commerce companies, Coupang has more than 17 million active customers in the second quarter of 2021 and generated $ 15.6 billion in revenue in the past twelve months. South Korea, Coupang’s primary market, ranks fourth in the world in e-commerce sales and represents an exciting market opportunity for international sellers seeking to reach South Korean consumers who demand a sophisticated, diverse product line. and global.
Through this partnership, sellers in Payoneer’s vast ecosystem spanning countries such as China, Germany, Japan, UK and US will benefit from faster access to funds and more great flexibility in the management of multi-currency payments when selling on Coupang. These essential tools make it easier for sellers to expand into new markets inside and outside the APAC region. Additionally, sellers will have access to streamlined integration on Coupang through Payoneer’s Green Channel program, which includes assistance from a dedicated support team to exploit new growth opportunities, leveraging Coupang’s position in as Korea’s most popular online retail destination.
Nagesh Devata, Vice President for APAC, Payoneer, said: “Payoneer continues to consolidate its position as a market leader and innovator in digital commerce and partnering with the world’s most dynamic companies is a key element. Coupang is at the forefront of the e-Commerce wave and has capitalized on the new wealth of opportunities available for the main platforms. Payoneer’s technology and the Green Channel service will help drive Coupang’s global growth.
Gerald Hoe, Global Market Manager, Coupang, said:“Our mission is to create a world in which customers ask themselves: how could we have lived without Coupang? Providing the best customer service is crucial to achieving this goal and our partnership with Payoneer reflects Coupang’s commitment to wowing the customer. The growth of our global community of sellers will allow us to further expand our product selection for our Korean customers. Additionally, providing our sellers with a streamlined payment experience and access to Payoneer’s Green Channel program means we can onboard quality small businesses faster and improve our growth in a secure manner.
Coupang is one of the largest e-commerce companies in Asia, with a mission to revolutionize the daily lives of its customers and create a world where people ask, “How could we live without Coupang?” Coupang offers a variety of services, including same-day and next-morning delivery of groceries and general merchandise, convenience food delivery through Coupang Eats, and video streaming through Coupang Play. Coupang has offices in Beijing, Los Angeles, Seattle, Seoul, Singapore, Shanghai, Silicon Valley, Taipei and Tokyo.
Payoneer (NASDAQ: PAYO) is the leading global partner for digital commerce, around the world. From borderless payments to limitless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and thrive in the new global economy.
Since 2005, Payoneer has imagined and designed a truly global ecosystem so that the whole world can realize its potential. Fueling the growth of clients ranging from aspiring entrepreneurs in emerging markets to the world’s largest digital brands like Airbnb, Amazon, Google, Upwork and Walmart, Payoneer offers a world of opportunities available to you.
This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered “forward-looking statements”. Forward-looking statements generally relate to future events or to the future financial or operational performance of Payoneer. In some cases, you may identify forward-looking statements by words such as “might”, “should”, “expect”, “intend”, “” “” These forward-looking statements are subject to risk. , uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based on estimates and assumptions which, while believed to be reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstance that could result in the termination of the relationship with Coupang; and (2) other risks and uncertainties set out in the section entitled “Risk Factors” and “Caution Regarding Forward-Looking Statements”, as well as all other risks and uncertainties contained in the prospectus filed by Payoneer on August 6, 2021 Nothing in this press release should be taken as a representation by any person that the forward-looking statements set forth herein will be realized or that any of the intended results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Payoneer does not undertake any obligation to update these forward-looking statements.
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PUB: 25/10/2021 09:50 / DISC: 25/10/2021 09:51
Copyright Business Wire 2021.