Tamil Nadu doubled its volume during the COVID-19 lockdown in cross-border e-commerce, leading much above the national average growth of around 20 per cent during the period, said Payoneer, a leading cross- border digital payment platform. While clusters like Erode, Tirupur and Coimbatore saw the highest volume and recorded as the top three cross-border e-commerce in the state, Erode experienced the fastest recovery of cross-border e-commerce, said the cross-border digital payment platform, which empowers businesses to go beyond their borders and grow globally.
The Indian freelancing segment saw a 19 per cent growth in income in the third quarter of last year and freelancers from the state have been at the forefront and have matched the national growth rates, as freelancer transaction volumes from the state surpassed 18 per cent in this period, the company said in a press release. IT services clusters in Coimbatore saw the fastest jump in IT outsourcing volumes, according to Payoneer.
“The e-commerce industry took a big blow due to supply lines being severed at the start of the pandemic. While sellers were not able to send shipments regularly at the start of the second quarter, however we did see sellers recover from June,” it said. The good thing is that they have now seen a steady rise back to normal during the peak season of October 2020 to December 2020.
During this time, Payoneer worked with eco system partners like logistic, warehousing, and other e-commerce service providers to prioritise Payoneer sellers, help them with domain expertise and increase capacity so that they could serve their consumers better. Payoneer created customised programs like Seller Express for merchants from Tamil Nadu to educate them on the benefits of cross-border e-commerce, vice-president of Payoneer Rohit Kulkarni said in the release.
Over four lakh Indian small and medium businesses and individual freelancers are already registered with Payoneer and use its solutions to receive payments from global marketplaces and international clients, the release said.