Etsy’s global community is ever-expanding, and with it, the need for versatile payment solutions. That’s where Payoneer steps in—a trusted partner enabling Etsy Payments for sellers in select countries. If you’re an artisan from Argentina, Chile, India, Japan, Peru, Thailand, or Ukraine, embracing Payoneer is not just beneficial; it’s imperative for the continued growth of your Etsy store.

The Deadline Approaches: Mark January 31, 2024 on your calendar! Without a Payoneer Payment Account linked to Etsy Payments by this date, your shop faces suspension. Ensure a seamless transition and uninterrupted sales by enrolling today.

Getting started with Payoneer is straightforward—set up an account and integrate it with your Etsy shop to begin receiving payments effortlessly. For those stationed elsewhere across the globe, check out how to enable Etsy Payments in other regions.

Understanding Payoneer

Payoneer serves as a financial bridge connecting businesses worldwide. Once funds are securely nestled in your Payoneer Payment Account, you have the choice to either make further transactions through Payoneer or transfer your earnings directly into your local bank account.

The Synergy Between Etsy and Payoneer

Why this dynamic duo? Partnering with Payoneer has flung open doors for numerous international crafters keen on setting up their digital storefronts on Etsy but hindered by regional restrictions regarding payment processing. This collaboration means broader horizons for sellers eager to harness features like Purchase Protection.

As a regulated entity committed to top-tier security protocols, funds within Payoneer are held in accounts that offer legal protection against unauthorised use. Dive into Payoneer’s Security Center for insights into safeguarding your financial dealings online.

How does Payoneer work with Etsy?

Understanding the interplay between Payoneer and Etsy is critical for sellers in certain regions. It’s a straightforward process that ensures your hard-earned money is transferred securely from your sales to your bank account. Here’s what you need to know about how Payoneer works within the Etsy ecosystem.

The Flow of Funds Through Payoneer

Upon completing a sale, Etsy processes the payment and deducts any associated fees. Then, like clockwork, every Monday, your available balance is moved to your designated Payoneer Payment Account.

Understanding Your Payment Schedule:

• Weekly Transfers: Every Monday, funds are deposited into your Payoneer Payment Account.
• Fixed Schedule: Currently, there’s no flexibility to alter the deposit timetable with Payoneer.
• Accessibility: After transfer completion, use the funds for further transactions or bank transfers.

Note: Direct payments from buyers into your Payoneer account aren’t possible; all transactions are funneled through Etsy Payments first.

Currency Considerations for Global Sellers:

While deposits into your Payoneer account will be in USD, withdrawing funds can be done in over 150 currencies via Payoneer’s Local Bank Withdrawal Service, although fees may apply. Learn more about Etsy’s Fee Structure.

Shop Currency Tips:

• List items in USD to match your deposit currency and avoid conversion fees.
• Remember that shoppers see prices in their chosen currency—Etsy handles this conversion automatically More on Currency Conversion.

Managing Withdrawals

Withdrawal minimums set by Payoneer could influence when you can transfer earnings to your local account. These limits depend on where you’re banking and which currency you’re handling. Delve deeper at Payoneer’s Support Center.

For queries beyond these guidelines or specific circumstances:

1. Reach out through Payoneer’s Online Support Center
2. Dial-in using a country-specific phone number

Setting Up Etsy Payments with Payoneer

For Etsy sellers who are gearing up to accept payments, integrating with Payoneer is a crucial step towards managing your shop’s finances effectively. Ready to streamline your transactions?

Follow these steps to enroll:

1. Navigate to Shop Manager on Etsy.
2. Click on the Finances section.
3. Access Payment settings.
4. Select Enroll now.

If you encounter any hiccups when clicking Enroll now, such as nothing happening, it might be due to an ad blocker or pop-up blocker in your browser. Disable any such blockers and try enrolling again.

Upon selecting Enroll now, you’ll be directed to either sign in to your existing Payoneer Payment Account or to create a new one if you don’t already have an account with Payoneer.

Creating a New Payoneer Payment Account

If you’re setting up a new Payoneer account, follow these additional steps:

1. Fill in the required fields with your personal details for identity verification.
2. Provide your financial information which includes bank details where sale funds will be deposited.
3. Complete the sign-up process by following the prompts provided by Payoneer.

Should you need assistance during this setup process or if your account is pending approval, consult Payoneer’s Support Center and contact Payoneer directly for personalized help.

Multi-Shop Management

For those who operate multiple Etsy shops, good news—you can link the same Payoneer Payment Account across all of them for consolidated financial management.

Addressing Sign-Up Errors

Occasionally, sellers may encounter an error message stating “Looks like some details don’t match.” This typically indicates a discrepancy between the country of the bank account on file with Payoneer and the country selected for Etsy Payments.

To fix this issue:

• Double-check that you’ve chosen the correct country during the Etsy Payments sign-up process.
• Ensure that there is a bank account linked to your Payoneer Payment Account from the same country as selected for Etsy Payments.
• For instance, if Ukraine is specified on your Etsy shop settings, then a Ukrainian bank account should be connected to your respective Payoneer Payment Account.

Transitioning from PayPal to Etsy Payments with Payoneer

For current Etsy sellers utilizing PayPal, it’s important to know how the introduction of Etsy Payments will affect your store and payment options. Here’s what you need to know about the shift from standalone PayPal to using Payoneer with Etsy Payments:

1. Standalone PayPal as a payment method in your shop will be disabled.
2. Your buyers will gain access to a variety of payment methods, including:

• PayPal
• Credit and debit cards
• Bank cards
• Etsy Gift Cards and Credits

Moreover, by using Etsy Payments, you’ll also be eligible for coverage under Etsy’s Purchase Protection Program.

Although signing up for Etsy Payments is optional at present, it will eventually become mandatory for all sellers on the platform—with plenty of notice provided beforehand. Please note that once you enable Etsy Payments on your shop, reverting back to only accepting payments through standalone Payoneer is not an option.

Getting Assistance with Payoneer

If any questions or concerns arise about setting up or managing your Payoneer Payment Account in conjunction with Etsy:

1. Visit Payoneer’s Support Center for comprehensive guides and FAQs.
2. For more personalized support or inquiries that aren’t addressed in the support center, reach out by contacting Payoneer directly.

Additionally, Payoneer offers multi-language support—simply select your preferred language at the top of their pages. If you encounter any issues while selecting a language due to pop-up blockers on your browser, ensure they are disabled so you can proceed without interruption.

Conclusion:

In conclusion, integrating Payoneer with your Etsy shop through Etsy Payments marks a significant step towards expanding your business and offering a seamless transaction experience to your customers. By choosing to enroll in Etsy Payments, you not only streamline the payment process but also tap into the added security and benefits of Etsy’s Purchase Protection Program.

Transitioning from standalone PayPal to a comprehensive payment system like Etsy Payments, which includes Payoneer, may seem like an overwhelming change at first. However, it’s designed to enhance your selling capabilities by providing access to a broader range of payment options suited for a global customer base.

Remember, while this integration aims at simplifying financial transactions on the platform, ensuring that your account details match and addressing any discrepancies promptly is key to avoiding any sign-up errors. Additionally, the flexibility of using one Payoneer account for multiple Etsy shops can make managing finances across various storefronts much more efficient.

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