Payoneer (NASDAQ:PAYO) and Fiserv (NASDAQ:FISV) have teamed up to streamline how businesses deliver payouts to sellers, vendors, contractors, and consumers across borders. The collaboration allows businesses to access Payoneer’s payouts platform via the Carat operating system from Fiserv, enabling the delivery of payouts all over the world, while reducing the accompanying costs.

As enterprises increasingly engage with businesses and consumers across borders, a need has emerged to deliver funds to global customers efficiently, while enabling an experience that meets the requirements of international businesses and consumers. With access to Payoneer through Carat, businesses will now have new payout options in more than 190 countries and can settle in local currencies, all while better serving their customers by offering them the diverse payment options and currencies that fit the needs of their local market.

“Today’s businesses realize that success and resilience against the unexpected both necessitate a diverse global network of customers and vendors,” said Robert Clarkson, Chief Revenue Officer at Payoneer. “This has created exponential demand for easy and secure payment solutions to support cross-border transactions. We’re proud to partner with Fiserv to fuel the growth of our mutual clients, and to move forward on our mission of giving businesses of all sizes the tools to be successful locally and globally.”

“The Carat operating system delivers the solutions large enterprises need to securely enable global pay-in and payout capabilities without being limited by borders, currencies or old ways of thinking,” said Robert Clayton, Vice President of Digital Payouts at Fiserv. “Our collaboration with Payoneer furthers the ability of our clients to move money and information globally, enabling them to deliver a highly-localized payout opportunity to their customers.”