Cross-border payment provider Payoneer will partner with digital marketing company Tradedoubler to provide commission-based payments between advertisers and online publishers.
Through this partnership, Payoneer will manage payments to Tradedoubler's network of 180,000 online publishers globally to offer commission payments in the proper currency from ads that result in a sale. As such, Payoneer will be the sole provider for cross-border payments to Tradedoubler publishers outside of Europe.
Payoneer, based in New York, specializes in providing an online mechanism for companies to pay or accept payments from other companies or freelancers in various currencies.
"While consumer payments have been digital for a long time, the business-to-business world has not caught up yet," said Payoneer CEO Scott Galit, whose company offers a receivables platform for merchants to provide access to foreign bank accounts and speed up payments in foreign currencies in areas where payments infrastructure isn't as advanced.
Payoneer is developing a number of options to address the outdated payments infrastructure between buyers and suppliers in the B2B space, Galit added. Tradedoubler, which tracks the activity on ads placed on publisher sites, will take advantage of some of those advancements in adding Payoneer's capabilities to its Tradedoubler Global Payments platform.
"In addition to being able to pay publishers in more currencies, up from nine to 90 in 200 countries globally, we are also able to pay publishers in a single currency, even if they are running ads in multiple countries," Tradedoubler CEO Matthias Stadelmeyer said.
That option was previously available only in U.S. dollars.
Payoneer's new billing services enable customers to bill global clients and get paid locally from bank accounts in the U.S., U.K. and Europe, or globally through credit cards.
The Tradedoubler partnership is important to Payoneer because it extends the company's presence in digital marketing and solidifies its position as the preferred payments provider in that space, Galit said.
Stockholm-based Tradedoubler says it generated 2.7 billion euros in revenue in 2014 for more than 2,000 clients across its publisher network.