There is a new global partnership for the Payoneer platform

Payoneer Global Inc. (PAYO), which offers services for trading online, has made a deal with Fiserv, Inc., a global financial company, to work together This is a big win for Payoneer because the company will be able to reach a lot of people. Payoneer and Fiserv will work together to offer services to suppliers, merchants, contractors, customers, and other people involved in the e-commerce market. In particular, customers will be able to use the Payoneer payment platform. This will be possible through the Fiserv Carat operating system.

Customers of both companies will be able to pay less for international payments. For example, they will be able to use different payment methods in their own currencies. Payoneer is very interested in the fast-growing cross-border payments market. The market for international payments is worth about $250 billion, and it grows by about 25% each year on average. At the same time, providers usually make more money on international payments than on domestic ones. Also, there is a lot of demand from both sellers and buyers for financial tools that are easy to understand and cheap.

Payoneer has 24 offices in different countries and more than 5 million customers. The company sells tools and services for invoicing, accepting payments, paying cross-border fees, managing payments in multiple stores at once, etc. Stores that sell their goods on large aggregator trading platforms use Payoneer solutions to sell their goods. Payoneer also has solutions for IT companies that outsource, businesses in the tourism industry, freelancers, etc. Payoneer’s first-quarter revenue grew by 36% year-over-year to $137 million, and its net profit was $20.2 million, up from $3.5 million the year before.