Walmart U.S. Marketplace sellers will now be able to avail new working capital solutions from Payoneer. The commerce technology company that powers payments and growth in global economy will provide expanded Payoneer Capital Advance to third party sellers on the Walmart site.
Walmart has always strived to offer the best to its customers as well as to its third party sellers. So, it has joined with Payoneer to help its third party sellers. Three types of working capital will be available.
Capital Advance Express
This is a short term solution for sellers. It has settlements over one month
Capital Advance Grow
This offering is a mid-term solution. Sellers get access to additional funds and they have a three-month settlement period.
Capital Advance Plus
This is a longer-term solution offered to sellers. They get a much larger amount of capital when compared with the Express or Grow Plan. The plan also offers a longer settlement period of six months.
Tomas Ponce De Leon who is the Senior Director of Marketplace Strategic Programs, Walmart said that affordable working capital was very important for their sellers to expand their businesses. The director also said that Walmart’s relationship with Payoneer would provide seller access to several capital advance programs. This access would help the sellers meet their business needs.
Scott Galit, the CEO of Payoneer said that although access to working capital has not been a new challenge to the commerce technology company, there had been unforeseen supply chain as well as logistics disruptions in the recent past and the company was providing Capital Advance solutions to meet these challenges.
The pandemic also brought about different changes in demand as well other new challenges. Sellers faced disruptive activity and found it difficult to maintain cash flow. They also faced problems which prevented them from making future plans.
The CEO also noted that Payoneer was “proud to continue building” their “relationship with Walmart” as they offered “Capital Advance” solutions to sellers on the Walmart website.