Linio, a South American ecommerce store, has selected Payoneer, an online payments company, to power its payments to sellers worldwide.
This partnership facilitates sellers access to the estimated $88 billion latin-american ecommerce market through Linio’s 8 localised platforms, by allowing them to receive their funds through Payoneer’s payment solutions.
Since market entering, 4 years ago, Linio experienced an amazing growth, with Linio Mexico supporting alone around 30 million website visitors a month and thousands of sellers worldwide. This has come hard for Linio since international transfers have been truly expensive and time consuming, creating an unsustainable platform for such a rapid growth.
“Cross-border payments has been one of the biggest challenges for Linio and its global sellers,” said Carlos Alcántara, Co-Founder and Managing Director of Cross-Border Sales at Linio. “High fees from traditional banking services, a lack of transparency, delays, and manual processing have all made payments a major roadblock for global sellers offering their products on Linio.com. Now, thanks to our integration with Payoneer, we can offer our sellers one solution for all cross-border payments, which will allow them to increase global sales without the hassle of international transfers.”
Ms. Lin from Globalomerce, an Asian supplier selling in LATAM through Linio explains:
“The reason why I chose Linio to go into LATAM was because it is the largest B2C platform in the region, so I don’t have to pay too much attention to local promotion. It’s very common that Chinese sellers use Payoneer to receive payments. Since it takes about one month to open an account abroad and withdrawing cash is also not easy, bank-related activities create the most annoying issues for an online export business. However, Payoneer and its services can solve these problems and sellers can receive payments from Linio without any issues”.
“Payments to international customers should not be a barrier to growth and we’re excited to partner with Linio to turn this challenge and burden into an advantage for them,” said Scott Galit, Payoneer CEO. “Marketplaces continue to develop as the leading ecommerce destinations, connecting buyers in local markets with sellers from around the globe, and Linio has done an amazing job building leading marketplaces in 8 countries in Latin America.”