Payoneer Named Payment Provider for ZEPETO Metaverse

Korean internet company Naver Z has chosen Payoneer to serve as the global payment provider for ZEPETO, its 320 million-member metaverse platform.

“This partnership marks Payoneer’s increased focus on the content creator industry and how it connects entertainment platforms with their global ecosystem,” the payments company said in a Friday (Aug. 5) press release.

Payoneer will help ZEPETO content creators make and receive payments in multiple currencies and geographies, and in doing so, expand its businesses on a global scale, according to the release.

“Opportunities to create income from the creative economy in virtual worlds continue to expand, and it is essential that Naver Z is prepared to provide our creators with the best payment experience,” said Naver Z Head of Business Ricky Kang in the release. “In addition to helping Naver Z improve the speed of payments, Naver Z’s partnership with Payoneer expands the economic opportunity for our creators by allowing them to sell into new markets and receive payments regardless of location.”

As PYMNTS noted in 2021 — after ZEPETO was valued at $1 billion — the platform lets users create 3D avatars to connect virtually with people from around the world. In addition to these connections, ZEPETO gives creators the chance to design custom items, such as avatar apparel and 3D worlds.

Read more: Metaverse Platform Zepeto Value Tops $1B With $150M SoftBank Investment

Payoneer discussed its focus on the creator economy earlier this year in a conversation between PYMNTS’ Karen Webster and company CEO Scott Galit following the launch of Payoneer Checkout.

See more: Small Online Sellers Get Chance to Install a Big Tech ‘Buy Button’

Galit said the tool is designed to help content creators who are looking for simpler and quicker ways to monetize with “buy button” ease. At this nexus of small business, contextual commerce, and the creator economy, streamlined digital payments combine as the next big thing in online direct-to-consumer (D2C) sales.