Newegg Partners with Payoneer: What’s in it for Sellers?

Who is Newegg?

Established in 2001, Newegg is the second-largest online tech retailer in North America and was dubbed the “king of online electronics” because of their comprehensive selection of the latest consumer electronics, computers, home theatre products and other general merchandise.

In the past, Newegg faced several challenges regarding payout options for international sellers: high costs, complexity and lengthy transfer times. Today, we are excited to announce that Newegg has selected Payoneer to help facilitate global payments in order to simplify the cross-border payout process for their 3,000+ global sellers while lowering overall costs and enabling sellers to receive and convert payments easily.

“Most of our global sellers are based in Asia and Europe, and the biggest challenges they face are delays and high costs associated with cross-border money transfers,” said Sophia Tsao, Head of Newegg Marketplace. “Our sellers want a global, cross-border payout solution such as Payoneer. This partnership will stimulate the growth of our global seller network by removing the hurdles associated with sending and receiving international B2B payments.”

What’s in it for you as a seller?

In addition to offering a cost effective solution for Newegg sellers, we’re committed to providing the best and safest service possible. As a seller you can enjoy:

• Speedy Payments:  Simply put, as a Payoneer account holder you will receive your payments within minutes. No more waiting for long wire transfers to get your funds.
• Strong Payment Regulations: Whether you’re receiving money in JPY or KRW, Payoneer will convert your money in a secure and regulated way. We adhere to stricter regulation standards than our competitors and we are committed to modifying our payment offering in order to maintain the highest level of security for our users.
• Solid Backed Company: Payoneer has over 10 years of experience in the industry, is backed by leading investors and has been ranked for the 3^rd time in the top 100 of the Inc. 5000 Financial Services Companies.

We are truly excited about this partnership and the ability to assist Newegg in creating a streamlined and regulated payment process for thousands of global sellers.

 “Newegg and Payoneer have a shared mission to empower merchants from around the world to expand their businesses internationally, providing a wider range of merchandise to consumers across the globe,” said Scott Galit, CEO of Payoneer. “We’re excited to be involved in supporting such a fast-growing e-commerce marketplace by providing efficient and easy cross-border payouts to Newegg’s global community, as well as providing e-tailers with an all-in-one payment solution for all their global selling needs.”

Are you a company selling on Newegg?  Be sure to select Payoneer as your preferred payment solution! Not yet a Payoneer user? You can sign up directly from the Newegg Seller Portal, today!