Company spotlight: Linio – South America’s leading eCommerce site
Linio is the biggest online store with the fastest growth in Latin America. They offer a safe, secure and comfortable shopping experience, with a wide variety of top-selling products. To offer a great online experience, Linio strives to have the best deals, the most diverse payment methods, free refunds and a dedicated follow-up service after purchase.
Today, Linio offers more than 6 million products. By the end of the year, it will expand this to more than 8 million products thanks to its international marketplace, which allows sellers from all over the world to sell their products to the Latin-American market.
The challenges of rapid growth
Since it launched its site in 2012, Linio has experienced incredible growth, particularly in its international business. The speed of growth was drastic – cross-border sales quadrupled over the course of 2015 alone. Unfortunately, this came at a price – international wires were extremely expensive and time consuming, limiting Linio’s ability to scale. The eCommerce platform needed to find a low-cost, flexible payment solution that would allow them to continue to expand, while easily paying sellers all over the world.
Sellers call for a solution
Linio’s international sellers recommended that the marketplace partner with Payoneer, their favorite payment provider. They pointed to the need for faster payments, transparency, cost effectiveness, and security as reasons for selecting Payoneer. Linio listened to their sellers – they integrated with Payoneer, offering sellers the Payoneer Account. Now, Linio’s sellers reach a bigger customer base and grow globally, all without the complexity that comes with traditional international wire transfers.
The result: an international success
Carlos Victorica, Head of International Marketplace at Linio, stated, “Delays, complex manual processes, no transparency, and high fees from traditional banking services all posed huge challenges for international sellers on Linio. Thanks to our partnership with Payoneer, we’ve eliminated the complexity of international transfers, and are now able to offer our sellers a simple, hassle-free solution for all their global payments.”
Since partnering with Payoneer, Linio has seen an increase of 30% in the number of international items sold, and an increase of over 50% in the number of international items listed. Today, their international sellers come from more than 20 different countries, including the United States, China, Hong Kong, South Korea, Japan, India, Panama, Spain, the UK and Australia.