There is an old African proverb that says “If you want to go fast, go alone. But if you want to go far, go together.” At Payoneer, we’re always looking for ways to help our customers, partners, and marketplace clients go far and beyond what they might think is possible. That’s why we’re thrilled to announce the launch of Green Channel, our new matching and onboarding program for marketplaces and top online sellers that helps each of them join forces and go further together.
What is Green Channel?
Green Channel is a powerful matching and onboarding program designed to connect marketplaces with top merchants, that have been pre-screened by Payoneer’s robust fraud prevention and compliance capabilities. By tapping into and leveraging Payoneer’s large community of already successful sellers, the service empowers marketplaces to rapidly grow their inventory by bringing on high-quality cross-border sellers, while also helping those sellers to expand into new markets quickly and seamlessly.
As a lever for significant and substantial growth, Payoneer’s global ecosystem, paired with local support, makes Green Channel a unique offering that ensures a fast-tracked onboarding for these merchants, providing enormous value to both them and the new marketplace they will be selling on.
What’s in it for Marketplaces?
With over 4 million customers, including thousands of large e-sellers, in over 150 countries, Payoneer is able to introduce its enterprise marketplace clients to the best of the crop and millions of dollars in additional sales.
What’s more, thanks to our massive network of marketplace relationships, larger than any other payment provider in the world, we have a comprehensive view of any seller’s activity across multiple platforms. Based on such rich data, we can identify trusted sellers that are ripe for growth into new markets and those which are most likely to succeed.
Indeed, by using Payoneer’s comprehensive fraud protection and compliance capabilities, Green Channel facilitates connections, with the marketplace also benefitting from Payoneer’s local customer service business growth teams. These business growth teams offer marketplaces operational support, regular online and offline training and marketing consultancy services.
So, when marketplaces can tap into this pool of vetted and highly qualified sellers, the hard work of knowing which sellers to work with, for example, collecting, preparing and processing KYC documents, is removed. This saves a huge amount of time and ensures that marketplaces are working only with the most trusted large online sellers. As a result, this allows marketplaces to scale more rapidly by onboarding some of the world’s largest online merchants and see a boost in their revenues.
What’s in it for Top Sellers?
While successful sellers may have conquered one market, it can often be daunting to expand to new ones. From product integrations to payment options, the logistics of setting up on a new marketplace can be a challenge. This is where Green Channel can help.
With Green Channel acting as the matchmaker between sellers and marketplaces, Payoneer ensures sellers are onboarded efficiently as well as receive special attention from the marketplaces they’re introduced to. This can include special discounts on commission rates, free ads packages, global ecosystem of support for logistics, warehouse, ERP, local influence and traffic. Of course, having received Payoneer’s stamp of approval, marketplaces are keen to work with those sellers who come highly recommended. This whole process makes the transition to selling on a new marketplace much quicker and smoother.
Who is Currently Using Green Channel?
So far 28 marketplaces have joined the Green Channel program all over the world, including Wayfair, one of the world’s largest e-commerce destinations for the home, in North America, Mercado Libre in LATAM, and Real in Europe, who have received connections to thousands of sellers worldwide.
For more details on Green Channel, please watch our Green Channel panel discussion below with executives from Payoneer, Jumia Global, Real.de and Google, that recently took place at BEYOND, Payoneer’s 24hr Global Virtual Summit for Digital Business.