Payoneer partners with Lazada to offer cross-border payment solutions
Launched in the first quarter of 2012, Lazada is the leading online shopping and selling destination for merchandise in Southeast Asia, with presence in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The online shopping mall features an extensive product offering in categories ranging from consumer electronics to household goods, toys sports equipment and fashion. After just 3 years, Lazada has rapidly grown to a reported $1 billion of annualized gross merchandise value (GMV). Its localized shopping sites and mobile apps bring in an estimated 4 million visits daily and 55 million unique visitors monthly.
“We see tremendous potential in Southeast Asia as consumers continue to embrace online shopping largely facilitated by the rise of Internet and increasing mobile penetration. As the leading e-commerce player, we offer brands and merchants in Hong Kong and China with the only single retail gateway to enter Southeast Asia,” Aimone Ripa di Meana, CEO Crossborder, Lazada Hong Kong said.
ECommerce represents around 1 percent of total retail sales in Southeast Asia compared to 7.2 percent in China, highlighting the massive growth potential in the coming years. With over 4,000 employees and the largest Facebook following in Southeast Asia (nearly 12 million fans), Lazada is growing rapidly and dominating the market in this region. It’s no surprise that with over 650 million consumers in six countries that the number of third-party sellers has increased dramatically from 478 in November 2013 to over 15,000 in 2015.
The online retailer is pioneering ecommerce in the region by providing customers with an effortless shopping experience with multiple payment methods including cash-on-delivery, extensive customer care and free returns. And now, Lazada has partnered with Payoneer to offer their sellers a simple cross-border payment solution. Are you a registered business and looking to grow your market share? If yes, it’s time to start selling on Lazada! Not sure if you qualify? Find out more information about selling on Lazada.