Payoneer launches API so companies can add embedded payment options to their services

Posted Feb 14, 2017 by Jonathan Shieber

Payoneer, a provider of payment technologies that lets vendors sell to international customers in local currencies — allowing for easier cross-border payments, is launching an API.

The move lets billing companies and service providers embed payment technologies in their existing services.

Software services companies are now competing globally for customers, and Payoneer allows companies to operate globally and get paid locally, according to the company’s chief executive, Scott Galit.

The move can also be a boon to companies who have large, distributed, workforces, according to the company.

The API launch comes on the heels of a YUGE October financing round, which netted the company $180 million in new cash.

Payoneer is backed by investors including Wellington Management, TCV, Susquehanna Growth Equity, the Chinese financial services firm, Ping An, Carmel Ventures and Greylock Partners. To date, the company has raised $270 million for its global payments processing services.

The company supports payments in over 200 countries and territories and can handle over 150 different currencies.