B2B Payments

Two Commerce, Payments Giants Pair For Global Deals

As eCommerce takes hold of the global market, B2B and B2C sellers need solutions not only to bring their sales efforts online but to facilitate the payments of buyers the world over.

Commerce-as-a-Service provider Digital River is acting on that demand thanks to a new partnership. The firm announced Wednesday (July 8) that it will now be working with cross-border payments service provider Payoneer to bring its online sellers the capabilities of accepting transactions regardless of currency.

"As merchants expand their businesses globally, managing international payouts to customers, suppliers, affiliates and partners becomes more complicated and costly, especially when local payment recipients are unable to receive payments through traditional bank accounts,” said Digital River Senior Vice President Hayden Reed, who also heads Digital River World Payments as general manager.

Reed added that a partnership with Payoneer will bring more robust outbound payment capabilities to business customers in search of more payout options.

Payoneer will now add its technology to Digital River’s platform that can support mass payouts and fund transfers to and from businesses. The capabilities will add to Digital River’s existing cross-border payments ability. According to reports, Digital River already allows online sellers to accept e-payments in more than 170 currencies through more than 200 payment options.

As a collaboration aimed to strengthen international commerce, Digital River is looking to offer the necessary technologies for sellers to succeed online. In addition to cross-border payments, the platform also offers solutions to manage currency risk and checkout page optimization to meet the needs of shoppers in multiple jurisdictions.

"We’re excited about working with Digital River to help meet the growing demands of their merchants,” said Payoneer CEO Scott Galit. “Payoneer’s all-in-one mass payout services are an exciting complement for Digital River merchants challenged with the complexities of global payouts."

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Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

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