Payoneer, the global payment and commerce-enabling platform, announced that it is collaborating with eBay to manage payouts for sellers in select countries including China on the latter’s core marketplace.

eBay has teamed up with Payoneer to modernise its marketplace, remove complexities and create a more streamlined payment experience for sellers around the world.

With the help of Payoneer, eBay sellers will benefit from faster access to funds, greater flexibility managing multi-currency payments and expanded reach by enabling sellers to list on multiple international eBay sites.

Starting in April 2021, Payoneer will manage payouts for eBay sellers from Greater China as eBay expands its management of payments around the globe.

eBay and Payoneer intend to expand the service to additional countries later in the year.

For Payoneer, this agreement comes on the heels of its announcement that it will go public later this year through a business combination with a special purpose acquisition company.

In February 2021, Payoneer entered into an Agreement and Plan of Reorganization with FTAC Olympus Acquisition Corp in a transaction that would result in Payoneer becoming a U.S. publicly listed entity.

The transaction is expected to close in the second quarter of 2021, subject to satisfaction of customary closing conditions.

“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.”

stated Scott Galit, CEO of Payoneer.

“Managing payments on our platform is a key component to enhancing the eBay experience for our customers. We’re excited to be partnering with Payoneer at a time of such growth for both our companies.

 

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.”

added Alyssa Cutright, Vice President of Global Payments at eBay.