Payoneer, Mastercard partner to offer digital solutions to SMBs

The service streamlines how SMBs use their earnings.

Financial services company Payoneer has teamed up with Mastercard to better meet the needs of small and medium-sized businesses (SMBs) and the business-to-business (B2B) market.

Through the Payoneer Digital Purchasing Mastercard, SMBs can streamline the way they use their earnings to invest back into growing their business, bringing value to digital marketplaces and platforms.

The service is tailor-made for SMBs, e-commerce sellers, and freelancers worldwide.

“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,” Payoneer's chief strategy officer Charles Rosenblatt said.

The partnership comes after Payoneer announced that it will be going public through a special purpose acquisition company transaction, which assigns it a pro-forma implied enterprise value of approximately $3.3b upon consummation.

Mastercard will provide Payoneer with access to 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 five million businesses.

“We have been laser-focused on enabling faster, more convenient, and secure digital payments to address the evolving needs of businesses and consumers alike,” Mastercard executive vice president Sherri Haymond said.