Payoneer and Etsy Partnership Spark A Surge

(NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, announced a collaboration with global online marketplace Etsy (NASDAQ: ETSY), to support its bespoke seller offering, Etsy Payments. The collaboration will enable Etsy to streamline payments to sellers and help create economic opportunities to more entrepreneurs in emerging markets.

Etsy Payments is the core of Etsy’s payment technology and enables flexible and secure payments infrastructure to both buyers and sellers. The collaboration between Payoneer and Etsy will utilize Payoneer’s global infrastructure to offer greater services and seamless payouts to sellers in the currency of their preference. It will initially be launched in Ukraine and Thailand, followed by India, Japan, Argentina, Chile, and Peru by the end of 2023.

Price Momentum
PAYO is trading in the middle of its 52-week range and above its 200-day simple moving average.

Price change
The price of PAYO shares has increased $0.13 since the market last closed. This is a 2.40% rise. Investors are still evaluating the share price, but the stock still appears to have some upward momentum. This is a positive sign for the stock's future value.