Payment and commerce-enabling platform Payoneer and financial services technology solutions firm Fiserv have struck a partnership to streamline cross-border payouts for businesses globally.
The two companies are joining forces at a time when cross-border payout volumes are surging globally, especially for businesses focused on the gig economy and marketplaces.
According to the companies, the tie-up will enable businesses to access Payoneer’s payouts platform through Fiserv’s Carat operating system to send funds payouts to sellers, vendors, contractors, and consumers.
The move will provide businesses with additional payout options in over 190 countries and allow them to settle in local currencies.
Furthermore, businesses will be now able to cater to their customers by providing them with a range of payment options and currencies while minimising the accompanying costs.
Payoneer chief revenue officer Robert Clarkson said: “Today’s businesses realise that success and resilience against the unexpected both necessitate a diverse global network of customers and vendors.
“This has created exponential demand for easy and secure payment solutions to support cross-border transactions. We’re proud to partner with Fiserv to fuel the growth of our mutual clients, and to move forward on our mission of giving businesses of all sizes the tools to be successful locally and globally.”
Fiserv vice president of Digital Payouts Robert Clayton said: “The Carat operating system delivers the solutions large enterprises need to securely enable global pay-in and payout capabilities without being limited by borders, currencies or old ways of thinking.
“Our collaboration with Payoneer furthers the ability of our clients to move money and information globally, enabling them to deliver a highly-localised payout opportunity to their customers.”
Recently, UK-based Trust Payments signed a long-term agreement with Fiserv to support its growth as well as global expansion plans.