Payoneer Powers Payments For Entrepreneur Online Marketplace

Payoneer, the cross-border online payments company, has been selected by Teespring to power its global mass payment services for the eCommerce platform that enables entrepreneurs to sell custom-made products to a global market.

The partnership between Payoneer and Teespring was announced yesterday (July 27) and in a news release about the collaboration, it explained that the two companies share one goal in helping business owners sell goods online to a global market in a fast and seamless manner.

“By enabling anyone, anywhere to bring their ideas to market, Teespring is creating new opportunities for entrepreneurs globally,” said Robert Chatwani, Chief Revenue and Marketing Officer of Teespring. “Payoneer provides a fast and dependable way to pay international sellers, which helps us better serve our customers and empower people to launch and build successful businesses on Teespring. Through this partnership, we expect to grow our community of Teespring sellers around the world, especially in emerging markets where traditional payment methods are limited.”

Teespring helps those entrepreneurs by handling the logistics it takes to get products sold around the world. This includes everything from production and manufacturing to supply chain and customer service. To date, the company has shipped roughly 12 million products around the globe. The company’s growth is what made it need a payments solution that could help its sellers process payments in all regions of the world in the same manner.

“In today’s borderless world, nothing should prevent talented professionals and small businesses from connecting with the most innovative digital technology,” said Scott Galit, CEO of Payoneer. “The fact that Teespring sellers requested Payoneer as a payout option validates our prominence as the preferred payment platform for cross-border eCommerce and affiliate marketing. We’re thrilled to continue connecting the world of eCommerce, enabling marketplace sellers all over the world to build their own businesses and make a living without the added roadblocks often associated with cross-border payments.”

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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