Etsy have announced a multimarket expansion of Etsy Payments, in partnership with FinTech company Payoneer, to sellers in seven new countries, with the aim of enabling more global transactions on the Etsy marketplace. Etsy sellers in Ukraine and Japan can enroll today, with plans to launch in India, Thailand, Argentina, Chile, and Peru by the end of 2023.
Etsy Payments is at the core of our payments technology: it is a flexible and secure payments infrastructure that benefits both our buyers and our sellers. Buyers can transact confidently and depending on their market, have access to choose from a range of local payment methods, including PayPal, credit, debit, or bank card, Etsy Gift Cards and Etsy Credits. For sellers, Etsy Payments enables them to reach more potential customers and reduce friction at checkout – which increases the likelihood of conversion – while simplifying how they get paid.– Chirag Patel, VP and GM Payments and Risk, Etsy Inc
Etsy Payments Features
Sellers enrolled in Etsy Payments are able to access benefits such as:
- Selling confidently with Etsy Purchase Protection, as purchases made from sellers using Etsy Payments are eligible to qualify for this coverage, meaning that Etsy will refund buyers and sellers can keep their earnings if a qualifying order is damaged or doesn’t arrive.
- Getting dedicated support: You can get support around the clock on financial transactions and payments processing on Etsy Payments in the Etsy Help Center, including live support for most topics.
- Finally, sellers can more easily manage all their Etsy shop’s financial information in one place.
Additionally, this expansion enables Etsy to welcome new sellers to Etsy, allowing them to provide economic opportunities to more creative entrepreneurs around the world while working to keep the platform safe and secure.
We’re excited about the continued global expansion of Etsy Payments, which benefits both sellers and buyers as we work to make relevant payment options available across our global marketplace. We’re just getting started, and cannot wait to see the potential that this Etsy Payments can unlock for our community at large– Chirag Patel, VP and GM Payments and Risk, Etsy Inc