Naver Z, a Zepeto-owned Asian company, has selected Payoneer to serve as its global payment provider, a press release reported.
“Opportunities to create income from the creative economy in virtual worlds continue to expand and it is essential that Naver Z is prepared to provide our creators with the best payment experience,” head of business at Naver Z, Ricky Kang, said. “In addition to helping Naver Z improve the speed of payments, Naver Z’s partnership with Payoneer expands the economic opportunity for our creators by allowing them to sell into new markets and receive payments regardless of location.”
The collaboration with the global metaverse platform containing 320 million registered users, is an indicator of Payoneer’s interest in connecting with entertainment platforms on a global scale.
The duties Payoneer is required to fulfill under the terms of the agreement includes helping creatives complete global transactions in an efficient manner. Content creators will now be eligible to receive payments from numerous locations, and in multiple currencies.
The collaboration will also allow affiliated content creators to expand into new markets, while garnering support for its established operations’ flexible payment solution offerings.
“Naver Z is a pioneer of content creation in the virtual world and Payoneer is thrilled to meet the needs of digital creators by reducing the friction that can exist in cross-border payments in the digital economy due to the nature of complex financial operating systems,” Woo Yong Lee, regional head of East Asia at Payoneer, said. “We look forward to supporting the next phase of Naver Z’s growth and providing a quicker, more convenient payments platform for its 320 million international users.”