Payoneer, a financial technology company that enables small and medium-sized enterprises around the world to trade, do business, and expand abroad, today announced a partnership with Zoho, a leading global technology corporation that provides a wide range of business software solutions. The agreement, which will be expanded to include other Zoho product offerings, will enable Payoneer to provide cutting-edge payment solutions to businesses that use the cloud accounting platform Zoho Books.
Small and medium-sized businesses (SMBs) and independent contractors in India, Australia, New Zealand, the United Kingdom, and the Philippines would benefit from the alliance, which has ambitions to expand into new areas.
When a business invoices a customer, they can choose Payoneer as a payment option, and the customer's funds will be received in the Payoneer account. The money can then be held by companies in India, Australia, New Zealand, the UK, and the Philippines who can use them to make online purchases or pay suppliers. Businesses in India can download their digital FIRCs (Foreign Inward Remittance Certificates) and automatically withdraw their funds to their local bank accounts.
Businesses will be able to invoice their clients and receive payments into their Payoneer accounts thanks to a Payoneer payment solution that will be accessible as an extension that can be added from the Zoho Marketplace. Additionally, Zoho Books' automated payment reminders will assist companies in lowering the number of overdue payments.
Gaurav Shisodia, VP at Payoneer India, said, "Payoneer's mission is to make international payments seamless for its customers. We empower customers to grow their business globally. Collaborating with Zoho, Payoneer aims to provide a comprehensive and user-friendly payment solution that simplifies cross-border transactions. The collaboration will not only make it easier for businesses to receive payments and manage finances but also streamline payment processes helping them to sell to new markets and receive payments from across the world."