Freelancers in Bangladesh will now be able to receive payments instantly to their bKash account from all over the world through Payoneer.  Payoneer, a US-based commerce technology company powering payments and growth for the new global economy; Brac Bank, a leading private commercial bank of Bangladesh; and bKash, Bangladesh's largest mobile financial services provider jointly launched the service through a virtual event on Thursday.  Zunaid Ahmed Palak , state minister for information and communication technology (ICT), inaugurated the service as the chief guest.  Read: Magnito Digital partners with bKash Russel T. Ahmed, President of BASIS; Rohit Kulkarni, Regional Senior Vice President of Payoneer and Robert Clarkson, Chief Revenue Officer of Payoneer; Selim R. F. Hussain, Managing Director & CEO of Brac Bank and Kamal Quadir, Chief Executive Officer of bKash along with senior officials of respective organizations also joined the event.  “I would like to thank bKash, Payoneer and BRAC Bank for making the process faster and secured for the freelancers," Palak said, adding that skilled human resources are their greatest strength.  He said aound 6,50,000 freelancers of the country have been contributing 16 percent to the world’s online outsourcing.  According to a study by Oxford Internet Institute, Bangladesh is the second largest destination for online outsourcing, Palak said. During last 13 years, 2 million young technology based employment have been created with various initiatives and policies of the government, and we are working for further expansion, he added.   “Bangladesh is a key growth market for Payoneer globally,” said Robert Clarkson, Chief Revenue Officer of Payoneer.  Clarkson said they have always believed in the incredible potential of Bangladeshi entrepreneurs and this partnership with bKash highlights their commitment to invest in and provide the best solutions for our local customers.  "Our mission is to be a partner of growth for digital businesses of all sizes, from all corners of the world. We are thrilled to team up with local leaders like bKash and BRAC Bank to empower Bangladeshi freelancers to expand their economic opportunities.”  Selim R. F. Hussain, Managing Director and CEO of BRAC Bank, said they are delighted to be a partner of bKash and Payoneer in bringing earnings of the freelancers directly and instantly to bKash account.  "This service will give comfort and convenience to the freelancing professionals and enhance remittance inflow to the country in legal channel. Together we can play an enabling role in making Bangladesh a global freelancing hub and boost foreign exchange earnings.”  Kamal Quadir, CEO of bKash, said rding on the expanding digital infrastructure of Bangladesh, there is ample opportunity to take the country's freelancing sector to a stronger position in the global market.  "The easy method of getting payments in their bKash accounts through a regulated process will remove one of the key pain points of freelancers, which is to conveniently receive payment from their clients. This will surely encourage more people to start freelancing as well as help the existing ones dedicate more time and attention to their tasks.” The 24/7 real-time payment service will bring more dynamism to the thriving freelancing sector and accelerate the flow of remittance through legal channels to the country. As per the Oxford Internet Institute’s Online Labor Index, Bangladesh is a global powerhouse when it comes to ICT freelancing services.  Hundreds of thousands of Bangladeshi freelancers are currently providing services in this sector worldwide. They are adding hundreds of millions of dollars a year in foreign exchange to the country's economy. Bangladesh is one of the top income generating sources from freelancing in the world. With this new service tailored for local freelancers, bKash customers will be able to easily register a new Payoneer account, or link their existing account from the ‘Remittance’ icon of the bKash app.  Once linked, freelancers can check their Payoneer account balance, and instantly bring their payments to their bKash accounts.  These funds can be used for any purpose including ‘Send Money’ to other bKash accounts, ‘Pay Bill’, ‘Payment’ of shopping, ‘Cash Out’, etc.  Read: bKash to disburse Hindu Religious Welfare Trust allowances Freelancers from every corner of the country no longer need to wait to receive remittance payments, addressing a key challenge to growth for these workers.  BRAC Bank will play a pivotal role in this service as the foreign currency management and international fund settlement bank, bKash said. On the occasion of this launch, customers receiving the highest amount of payment each day will be given a mobile phone starting from February 10-16, 2022.  A customer can receive this prize only once during the campaign.  To be eligible, the amount of money coming from Payoneer to the bKash account should be more than Tk 15,000 in one or more transactions.  The prizes will be handed over to the winners at the end of the campaign.  In addition, bKash is offering 2% instant cashback on every Payoneer transaction from February 10 to March 10, 2022.

Payoneer Inc. ("Payoneer"), the commerce technology company powering payments and growth for the new global economy, and FTAC Olympus Acquisition Corp. (NASDAQ: FTOC) ("FTOC"), a special purpose acquisition company, announced on Friday that they have completed their business combination. The business combination was approved by FTOC's shareholders at an extraordinary general meeting held on June 23, 2021. As a result of the completion of this business combination, a new public entity under the name Payoneer Global Inc. ("the Company"), and its common stock and warrants, will begin trading today on the Nasdaq stock market under the ticker symbol "PAYO" and "PAYOW", respectively. Read Visa’s Fintech Initiative for Bangladesh: New Opportunities for Start-ups? Payoneer's global management team, led by Scott Galit, Chief Executive Officer, Michael Levine, Chief Financial Officer, and Keren Levy, Chief Operating Officer, will continue to lead the Company. The transaction includes a $300 million PIPE investment from investors including existing investor Wellington Management, as well as Dragoneer Investment Group, Fidelity Management & Research Company LLC, Franklin Templeton, certain funds managed by Millennium Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Winslow Capital Management, LLC. "We are thrilled to be a public company and join forces with Betsy and the entire FTOC team," said Scott Galit, Chief Executive Officer of Payoneer. Read Renowned online payment gateways in Bangladesh for domestic, international transactions "Through our 15 years, we have built a global platform that is trusted by millions of customers worldwide, from aspiring entrepreneurs to the world's leading digital brands and are now the go-to partner for digital commerce, everywhere. We are just scratching the surface of the enormous opportunity ahead to help businesses grow and scale in the new global economy. This move into the public markets is an important step on our journey to provide any business, in any market, the technology, connections and confidence to realize their potential." Betsy Cohen, Chairman of the Board of Directors of FTAC Olympus Acquisition Corp., stated, "The Payoneer team has positioned the company incredibly well to capitalize on the expansion of global commerce, and we are proud to be their partner during this next phase of growth. Payoneer has a strong balance sheet with ample capital to expand its already broad suite of services, both organically, by deepening existing merchant relationships and continuing to build new ones, and through strategic acquisitions." Read Spending Money for Happiness: 10 Effective Ways Financial Technology Partners served as exclusive financial and capital markets advisor to Payoneer. Davis Polk & Wardwell LLP served as legal counsel to Payoneer and Paul Hastings served as regulatory counsel to Payoneer. PwC served as Payoneer's auditors. EY served as Payoneer's tax and public markets advisor. Citi and Goldman Sachs & Co. LLC served as financial and capital markets advisors to FTOC. Cantor Fitzgerald also served as capital markets advisor to FTOC, and Morgan, Lewis & Bockius LLP served as legal counsel to FTOC. Read Fintech MFS: Best Mobile Financial Services in Bangladesh About Payoneer Payoneer (NASDAQ: PAYO) is the world's go-to partner for digital commerce, everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy. Since 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realize its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world's leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a universe of opportunities, open to you. Read Shammi Quddus: A Talented Bangladeshi Woman in Google, Global Fintech Industry About FTAC Olympus Acquisition Corp. FTAC Olympus Acquisition Corp. is a blank-check company led by Betsy Z. Cohen as Chairman of the Board and Ryan M. Gilbert as President and Chief Executive Officer formed for the purpose of acquiring or merging with one or more technology and financial services technology companies.