Shopify Inc. has announced its partnership with Payoneer, PayGlocal and Tazapay, through which, it aims to promote cross-border business by enabling merchants to receive payments with hassle-free procedures and lower transaction fees, it claimed. Additionally, the company asserted that the collaboration is aimed at streamlining cross-border commerce for Indian merchants on Shopify.
Reliable payments are a key enabler for merchants to go global effortlessly, Bharati Balakrishnan, India country head and director, Shopify, said. “Our partnership offers multiple benefits for our merchants, including quicker settlement, better chargeback protection, a native risk engine built to prevent fraudulent transactions, and additional local support,” he added.
According to the company, the D2C opportunity is booming globally and this partnership with Shopify will make it more seamless for Indian brands looking to enter this space and go global, by keeping payments simple, compliant and secure, it asserted.
For most Indian merchants, having the ability to collect payments from their overseas buyers in an easy-to-use, cost-effective way is paramount, Rahul Shinghal, Tazapay’s CEO. “Our partnership with Shopify reduces costs and increases conversion rates for these merchants, giving them access to a larger customer base globally,” he highlighted.