TSG has been closely monitoring COVID-19 as it spreads worldwide. As the situation evolves, the health and safety of our staff, clients, and partners is the top priority. TSG ensures business continuity for its clients and partners. We want to assure you that our support for the payments industry will continue through this time of uncertainty – we are here for you. Please email us with any questions or concerns.

March 15, 2016Blog Posts

Payoneer acquires Armor Payments to create global alternative to LCs

Banking Technology

US-based Payoneer has acquired Armor Payments as it looks to create a “global alternative” to letters of credit (LCs). Armor Payments, co-founded by former PayPal Director, Scott Reynolds, is the “only licensed B2B payments provider offering Escrow-as-a-Service (EaaS)”. Through the acquisition, the new integrated Armor Payments Payoneer Escrow solution will allow B2B buyers and suppliers to engage in cross-border e-commerce “anywhere in the world”. Payoneer says this will “reduce the uncertainty and risk associated with high-value B2B purchases”.

Source

  • Share this post: