Payoneer, one of the leading cross border payments platforms, have recently launched their Green Channel program. It aims to connect Payoneer’s existing large, online retail customers with new marketplaces internationally.
For retailers, one of the major issues when opening a new marketplace is the need to go through the, often cumbersome, on-boarding process and then earn the trust of each marketplace before they can really start to expand. Unless you’are a known brand most marketplaces will treat you like any other seller until you have proven sales on their platform, regardless of your sales elsewhere. This often means limits on account, higher risk profile, limited search visibility and so on.
Payoneer is enabling pre-vetted, large retailers to easily onboard with new marketplaces globally and bypass many of the usual steps. This supported onboarding and introduction will also mean retailers from Payoneer’s Green Channel can earn instant trust from marketplaces and get access to deals usually reserved for proven larger customers, such as discounts, ad packages and increased visibility (traffic).
No marketplace carries all products and as you look at different, smaller countries, even marketplaces who have vast amounts of products in, say, the UK, may actually have limitations in countries where they’re not so big. For marketplaces then Payoneer’s Green Channel program is a great way to onboard international retailers to fill inventory gaps with confidence that they are experienced sellers who are worthy of promotion.
At present the Green Channel program is used by 28 global marketplaces including Wayfair, Mercado Libre and Real.
This is a great on-boarding solution for existing, large Payoneer clients and it will no doubt help marketplaces with access to new sellers and their inventory. There are still many of the usual challenges when selling internationally on marketplaces such as localisation, listing, synchronisation and shipping efficiency but at least onboarding can be smoother.
See Payoneer’s Blog here for more information, it also has a good 40 minute webinar embedded with more information, worth watching but grab a coffee first!