Payoneer, the digital payment platform empowering businesses around the world to grow globally, today announced the worldwide availability of Green Channel, a matching and onboarding program designed to connect marketplaces with top merchants that have been pre-screened by the company’s robust fraud prevention and compliance capabilities. The service empowers marketplaces to grow their inventory rapidly by bringing on high-quality cross-border sellers, while also helping those sellers to expand into new markets quickly and seamlessly – combining to create a trusted ecosystem for cross-border business.
“Payoneer’s infrastructure is built to power marketplaces and enterprises to conduct business globally as easily and securely as they do locally, and this is what Green Channel is all about,” said Adam Cohen, general manager, Enterprise for Payoneer. “We have the largest network of marketplace relationships of any payment provider in the world. We have a comprehensive view of any seller’s activity across multiple platforms through which we can identify trusted sellers that are ripe for growth into new markets. Our global ecosystem, paired with local support, makes Green Channel a wholly unique offering that ensures a fast-tracked onboarding for these merchants, providing value to both sides of the network.”
The program has now gone global, connecting sellers and marketplaces all over the world from Asia, Latin America, Europe, North America and the Middle East to create a seamless onboarding experience for both merchant and marketplace. So far 28 marketplaces are already part of the Green Channel program, where they’ve received connections to thousands of sellers worldwide. With over 60% of marketplace fraud on the seller side conducted by repeat offenders, Payoneer’s global network of partners provides an expansive view of the market, enabling the company to identify and shut down bad actors. By utilizing Payoneer’s comprehensive fraud protection and compliance capabilities, and leveraging its extensive eCommerce ecosystem, Green Channel facilitates connections, with the marketplace benefitting from Payoneer’s local customer service business growth teams.
Wayfair, one of the world’s largest e-commerce destinations for the home, partnered with Payoneer to identify high quality suppliers. “Our partnership with Payoneer has allowed us to tap in to a pool of vetted and highly-qualified suppliers that have sold in higher multiples compared to our average new suppliers in recent months,” said Michael Zhang, senior manager, head of international supply solutions at Wayfair. “We look forward to expanding our efforts with Payoneer and are very excited about opportunities that lie ahead.” Through technology and innovation, Wayfair makes it possible for shoppers to quickly and easily find exactly what they want from a selection of more than 18 million items across home furnishings, decor, home improvement, housewares, and more. Committed to delighting its customers every step of the way, Wayfair is reinventing the way people shop for their homes – from product discovery to final delivery.