Payoneer, a cross-border payments company, has received an investment from Ping An, a Chinese financial services company, to expand its business in Asia.
The size of the investment and the financial terms of the deal were not disclosed.
"We share a strategic vision with Ping An of how we can help Chinese businesses grow their cross-border sales by facilitating scalable, efficient, cross-border payments services," says Payoneer chief executive Scott Galit in a June 9 press release.
New York-based Payoneer provides businesses with an online platform for processing payments in more than 200 countries. It also handles customer payments for Google's Trusted Stores program.