Categories: Cross Border Commerce

Payoneer Opens UK Office To Capitalize On Increased Demand From UK Merchants

In international business news this week, Payoneer, a cross-border payments company, officially unveiled a new office in London on Tuesday (June 20).

In a press release, Payoneer said it has seen an increase in demand for U.K. merchants looking to expand beyond the EU, as well as digital marketplaces and platforms opening their doors to foreign sellers, publishers and talent and, as a result, is opening the office.

Payoneer is aiming to connect the fast-growing digital economy in the U.K. to the rest of the players in the international business world through its payment solutions, the company said in the press release.

“London is a huge tech and innovation hub, yet U.K. businesses have historically focused on a domestic-first approach,” notes Daniel Mayhew, country manager for Payoneer in the U.K. “Our mission is to help these businesses take advantage of the incredibly lucrative markets that exist internationally. We felt it was crucial to open up a physical office in the U.K. at this junction to offer more support to the local business community.”

According to Payoneer, cross-border payments are on track to reach an all-time high, with new leaders in global trade arising each year. Daniel Mayhew and his team in the U.K. said numbers indicate that the country is in the early stages of a globalization boom.

Payoneer said it saw triple digit growth in the number of new users from the U.K. compared with the previous year. With a team on the ground offering increased support to the local business community, Payoneer is aiming to help accelerate global growth and payment solutions for U.K. merchants.

“As Brexit looms, there’s an increased interest among many U.K. businesses to look to new markets for growth, like the U.S., Asia and Latin America,” said Scott Galit, CEO of Payoneer in the press release. “At Payoneer, we are experts helping businesses expand into international markets and capitalize on growth opportunities in the new global digital economy. We’ve continued to increase investment in key markets to support global trade, most recently opening new offices in Japan, India, the Philippines, China and, now, the U.K. After 12 years in the industry, we understand the needs of the business community in the rapidly changing digital economy and plan to become the top partner in the U.K. helping  businesses grow internationally.”

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.