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Payoneer and Upwork Expand Their Strategic Partnership for the Freelance Economy

In a significant move, Payoneer Global Inc., a leading financial technology company, has announced the renewal of its long-standing partnership with Upwork, a prominent online platform connecting freelancers with businesses. This collaboration, which marks 15 years of working together, aims to enhance payment solutions for freelancers around the globe.

Under this renewed agreement, Payoneer remains the primary payment infrastructure partner for Upwork, providing essential wallet services and "Direct to Local Bank" payouts for international Upwork clients. This partnership expands the financial services available to Upwork's users, particularly in regions like Africa, Asia Pacific, Europe, Latin America, and the Middle East. With Payoneer's extensive reach that spans 190 countries, freelancers will have seamless access to their earnings with increased flexibility.

One of the standout aspects of this extended partnership is the introduction of new innovations aimed at improving the payment experience. As part of their collaboration, Upwork will work alongside Payoneer as a Design Partner to develop and explore stablecoin-enabled payouts, addressing the growing demand among freelancers for faster and more flexible ways to access their funds, especially in emerging markets like those in Latin America.

Ya Wen, Payoneer's Senior Vice President of Global Marketplaces, shared her insights on this partnership, stating, "Our long-standing partnership with Upwork exemplifies how effective collaboration between technical expertise and regulatory understanding can simplify cross-border payments for a global talent pool. Freelancers on Upwork can leverage the benefits of their Payoneer Accounts, global bank transfers, and optimized foreign currency management to foster growth in their businesses."

Payoneer's robust global financial infrastructure is designed to facilitate secure and compliant cross-border payouts. The company operates with a network of nearly 100 banks and payment service providers, thus supporting real-time payment innovations necessary for a rapidly evolving business environment.

In addition to improving payment infrastructure for Upwork freelancers, this collaboration is set to empower Payoneer's ecosystem of small and medium-sized business (SMB) clients. By leveraging Upwork's vast talent pool, Payoneer aims to unlock new business opportunities for SMBs, making cross-border transactions even more accessible.

The two companies' collaboration underscores Payoneer's commitment to serve as the backbone for global digital commerce. This partnership not only supports individual freelancers but also nurtures the growth of businesses operating in the interconnected global marketplace.

Through this renewed alliance, freelancers can expect a more dynamic payment processing experience, tailored to the needs of a modern workforce that is increasingly turning toward independent work models. With Payoneer and Upwork leading the way, the future of freelance payments looks promising.

About Payoneer

Payoneer is dedicated to powering cross-border commerce by equipping businesses around the world with the financial tools necessary to operate confidently in a global marketplace. The platform helps millions of businesses to connect, transact, and manage funds seamlessly across various currencies. Particularly, Payoneer focuses on enabling SMBs in emerging markets to access global economic opportunities without the traditional barriers of international payments.

For further details, check out Payoneer's official website at www.payoneer.com.