Linio started working with Payoneer, a U.S. Company, to make quicker and cheaper to pay cross-border sellers.
According to an article of The Wall Street Journal:
“Linio’s cross-border sales quadrupled in the second half of last year, and that 68% of cross-border sales came from Asia over the holiday period.”
The reason why Linio was looking for a partnership with a Company like Payoneer is because international wires can be expensive and time-comsuming, complicating operations for the sellers and for Linio. With Payoneer Linio is experiencing a rapid growth among sellers.
Linio, along with competitors such as Amazon Inc. and Mercado Libre Inc., offers a range of payment options for buyers in Latin America, where limited credit-card use has been a restraint on e-commerce growth.
The partnership with Payoneer aims to solve cross-border payment issues for sellers from Asia to Europe, U.S. and Latin America, Linio said. The most common issues we face are:
“high fees from traditional banking services, a lack of transparency, delays and manual processing”.
While e-commerce in Latin America remains a small part of total retail, accounting for around 2.2% according to research firm eMarketer; the sector is growing rapidly along with Internet and mobile broadband access.
“In general, there is considerable room for growth for retail e-commerce sales in Latin America, as the digital retail market represents a small fraction of total retail sales. Improvements made to e-commerce shipping and payment systems, along with expanding digital audiences, will help drive growth”, eMarketer said in a December report.
If you are a Seller at Linio click here to know more about it.
With information: The Wall Street Journal