The Payoneer Digital Purchasing Mastercard
streamlines the way SMBs use their earnings to invest back into
growing their businesses, bringing value to digital marketplaces
and platforms too
Payoneer Inc., the global payment and commerce-enabling platform
which powers growth for millions of digital businesses worldwide,
today announced a multifaceted relationship with Mastercard.
Beginning with the Payoneer Digital Purchasing Mastercard,
tailor-made for SMBs, eCommerce sellers and freelancers worldwide,
Payoneer and Mastercard will work closely to better meet the needs
of the B2B market.
This partnership comes soon after Payoneer announced that it
will be going public through a SPAC transaction, which assigns
Payoneer a pro-forma implied enterprise value of approximately
$3.3B upon consummation. Mastercard will provide Payoneer with
access to innovative new products and benefits to better meet the
needs of their customers, and Mastercard will benefit from
Payoneer’s global B2B footprint, gaining access to the company’s
ecosystem of more than 5 million businesses.
Through the new Payoneer Digital Purchasing Mastercard,
businesses receiving payment through Payoneer benefit from:
- Immediate access to funds earned which they can now invest into
their growth through digital advertising platforms such as Facebook
and Google
- Making purchases anywhere around the world where Mastercard is
accepted, and the ability to connect the card to mobile
wallets
- Access to multiple cards, streamlining the management of
expenses for businesses across platforms, storefronts and product
lines
- Virtual card access, providing SMBs with choice in how they pay
and get paid as the demand for digital payments continues to
accelerate
“This partnership with Mastercard is an essential step in
providing our customers with another easy way to access and spend
their funds from marketplace sales and B2B commerce,” said Charles
Rosenblatt, Chief Strategy Officer, Payoneer. “With the launch of
the Payoneer Digital Purchasing Mastercard, our global customer
base can pay for online advertising and other digital services, as
well as have another way to pay suppliers. We are very excited to
partner with Mastercard as we expand our global offerings,
providing our marketplaces and SMBs the best solution
available.”
“We have been laser-focused on enabling faster, more convenient,
and secure digital payments to address the evolving needs of
businesses and consumers alike,” said Sherri Haymond, executive
vice president, Digital Partnerships at Mastercard. “We look
forward to working closely with Payoneer to further address the
critical SMB segment through the combination of their significant
reach with the power of the Mastercard network.”
For those that have existing Payoneer cards, users will not need
to take any action to ensure continued access to their existing
card. The digital purchasing cards will be available widely in the
second half of 2021.
For more information on the Payoneer Digital Purchasing
Mastercard and this partnership, please visit:
https://explore.payoneer.com/en/solution/digital-purchasing-mastercard/
Note: In February 2021, Payoneer entered into an Agreement and
Plan of Reorganization with FTAC Olympus Acquisition Corp (NASDAQ:
FTOC) in a transaction that would result in Payoneer becoming a
U.S. publicly listed entity. The transaction is expected to close
in the second quarter of 2021, subject to satisfaction of customary
closing conditions.
About Payoneer
Payoneer’s mission is to empower businesses to go beyond
– beyond borders, limits and expectations. In today’s digital
world, Payoneer enables any business of any size from anywhere to
access new economic opportunities by making it possible to transact
as easily globally as they do locally.
Payoneer’s digital platform streamlines global commerce for
millions of small businesses, marketplaces and enterprises from 190
countries and territories. Leveraging its robust technology,
compliance, operations and banking infrastructure, Payoneer
delivers a suite of services that includes cross-border payments,
working capital, tax solutions, merchant services and risk
management. Powering growth for customers ranging from aspiring
entrepreneurs in emerging markets to the world’s leading digital
brands like Airbnb, Amazon, Google and Upwork, Payoneer makes
global commerce easy and secure. Founded in 2005, Payoneer has a
team based all around the world.
In February 2021, Payoneer entered into a definitive merger
agreement with FT Olympus Acquisition Corp (NASDAQ: FTOCU) in a
transaction that would result in Payoneer becoming a U.S. publicly
listed entity. The transaction is expected to close in the first
half of 2021, subject to satisfaction of customary closing
conditions.
www.payoneer.com
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
www.mastercard.com
Forward-Looking Statements
This press release includes, and oral statements made from time
to time by representatives of Payoneer, may be considered
“forward-looking statements”. Forward-looking statements generally
relate to future events or Payoneer’s future financial or operating
performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“potential” or “continue,” or the negatives of these terms or
variations of them or similar terminology. Such forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward looking statements. These
forward-looking statements are based upon estimates and assumptions
that, while considered reasonable by Payoneer and its management,
as the case may be, are inherently uncertain. Factors that may
cause actual results to differ materially from current expectations
include, but are not limited to: (1) the occurrence of any event,
change or other circumstances that could give rise to the
termination of the relationship with Mastercard; and (2) other
risks and uncertainties set forth in the section entitled “Risk
Factors” and “Cautionary Statement Regarding Forward-Looking
Statements”,, as well as any further risks and uncertainties
contained, in the proxy statement filed by New Starship Parent Inc.
on February 16, 2021. Nothing in this press release should be
regarded as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward-looking statements will be
achieved. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Payoneer
does not undertakes any duty to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210310005151/en/
PAN Communications Rima Masubuchi 347 304 0681
Payoneer@pancomm.com
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