Ep.42 How to Save on Currency Exchanges & Get Lending to Scale Your Business with TJ Hyland from Payoneer

Welcome back to the Sprint to Profit Podcast for Amazon Sellers. In this episode, we are going to be speaking with TJ Hyland from Payoneer about how you can save money using Foreign Exchange companies to move your money from Amazon disbursements to suppliers or to your bank accounts with lower currency exchange rates AND a brand new program that Payoneer is rolling out specifically designed to help small to medium sized businesses like most Amazon sellers.

Today we’re talking about what Payoneer does, how exchange rates work and trends in the industry, and the ins and outs of Payoneer’s new lending program.

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To get some FREE training on what it takes to have a successful business to fuel your lifestyle, head to www.goteamreal.com to download our FREE training today. Also head to www.goteamreal.com/income to download your free INCOME calculator.

Talking Points:

• 00:21 - Hello and Welcome
• 01:28 - TJ’s background
• 02:45 - Payoneer background
• 05:30 - Trends or changes in how people use Payoneer
• 10:55 - How it works
• 14:00 - Exchange rates
• 16:50 - Payoneer’s new lending program
• 20:26 - The evolution of lending to online businesses
• 22:15 - Is the lending program available to US businesses only?
• 25:40 - Ins-and-outs of the lending program
• 32:15 - When you should think about utilizing Payoneer’s lending program
• 34:45 - Last minute thoughts and comments
• 36:55 - Getting a hold of TJ
• 37:45 - Conclusion

Resources/Links:

Register at Payoneer: https://register.payoneer.com/capital-advance/?p=real-ca

TJ Hyland email: [email protected] 

Money/Time Investment Tool: https://www.goteamreal.com/smartgoal

Our Website: https://www.goteamreal.com/

Real Amazon Seller Facebook Group: https://www.facebook.com/groups/AmazonSellerRoundTable/

Quotes:

09:35 - “It’s definitely become more competitive but it has definitely leveled the playing field in terms of cross-border selling.” - TJ Hyland

13:21 - “Payment within the Payoneer network can be done from Payoneer user to Payoneer user, completely for free.” - TJ Hyland

21:00 - “What we see is that there is definitely a scale up to, what we call, bankable. And most online sellers are not what we call ‘bankable’.” - TJ Hyland

31:30 - “It’s meant to be simple.” - TJ Hyland

35:03 - “This is not something you should be doing alone. Do not try to figure out everything on this wild ride, by yourself.” - TJ Hyland