The partnership will enable Payoneer to offer new payment solutions to businesses via Zoho Books, a cloud accounting platform. The payment solutions will benefit small and medium-sized enterprises (SMEs) and freelancers working in India, Australia, New Zealand, the UK, and the Philippines.

SMEs will be able to select Payoneer as a payment solution when invoicing their clients. The clients’ funds will be received in their Payoneer accounts, with businesses now capable of holding their funds in different currencies, spending online or paying their suppliers from the same account.

Gaurav Shisodia, vice president at Payoneer India said: “Payoneer’s mission is to make international payments seamless for its customers. We empower customers to grow their business globally

“Collaborating with Zoho, Payoneer aims to provide a comprehensive, user-friendly payment solution that simplifies cross-border transactions. “The collaboration will not only make it easier for businesses to receive payments and manage finances but also streamline payment processes helping them to sell to new markets and receive payments from across the world”, Shisodia added.

Payoneer: company profile

Founded in 2005, Payoneer provides payment solutions to SMEs which, in turn, allows them to transact, do business and expand their market operations globally.

In February this year, the company obtained its electronic money licence (EMI) from the UK’s Financial Services Authority. The move enabled Payoneer to sell its digital financial solutions on the UK market.

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Head of Product Management at Zoho Finance and Operations Suite, Prashant Ganti, welcomed the agreement with Payoneer.

“Zoho Books’ integration with Payoneer is designed to help businesses manage their finances end-to-end and simplify cross-border payments across the world”, Ganti said. “Businesses will be able to perform core accounting functions, send professional invoices, accept cross-border payments, and automate payment reminders, enabling them to operate more efficiently, and tap into new international markets with ease.”