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Payments General

Payoneer increases focus on US SMBs and cross-border sellers

Wednesday 16 May 2018 | 10:57 AM CET

Payoneer has announced new investment and support for US sellers and SMBs that address the needs of US companies doing business globally.

Payoneer provides US-based cross-border businesses with an end-to-end solution to get paid, bill their clients, pay VAT, pay suppliers and withdraw their international earnings in USD to their local bank account.

US sellers are able to expand their global business by leveraging Payoneer’s ecosystem of partners and integrations, including ChannelAdvisor, Regional Express, Amazing.com, Gengo, Avalara, SimplyVAT, TimeDoctor and Xero. These lower the barrier to entry to cross-border selling by providing services such as invoicing, marketing, shipping, accounting and VAT compliance.

A Forrester report cited in the press release has revealed that cross-border sales will grow over 120% from 2017 to 2022, reaching USD 627 billion and surpassing the overall growth of ecommerce. Yet, according to Ipsos’ CrossBorder Merchant Research 2016, only 36% of US online merchants are selling cross-border.

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