Payoneer Global Inc. reports developments as a financial technology company focused on cross-border business and global payments. Its updates center on SMB and SME customers that use Payoneer to pay and get paid across borders, manage funds in multiple currencies, and connect to global marketplaces and suppliers.
Recurring news themes include quarterly results, B2B volume and revenue trends, enterprise payout activity, customer funds, take-rate and ARPU metrics, share repurchases, product expansion, partner-enabled financing access for e-commerce sellers, and stablecoin-related payment infrastructure initiatives.
Payoneer Global Inc. (NASDAQ: PAYO) announced its participation in two upcoming investor conferences. The management team will present at Citi’s FinTech Conference on November 14, 2022, at 10:30 am ET, followed by Credit Suisse’s 26th Annual Technology Conference on November 29, 2022, at 10:35 am ET. Interested parties can access the webcast and replay on Payoneer’s investor relations website. As a leader in digital commerce, Payoneer enables businesses worldwide to thrive in the global economy.
Payoneer has partnered with WooCommerce to launch the Payoneer Checkout plug-in, enhancing payment solutions for small and medium-sized businesses (SMBs) in the cross-border ecommerce sector. This integration aims to simplify payment acceptance globally, allowing merchants to consolidate funds in multi-currency accounts for easier management. The DTC ecommerce market is projected to reach $212 billion by 2024, highlighting the growth potential. WooCommerce, which powers 25% of top online stores, will enable more merchants to access Payoneer's services.
Payoneer Global Inc. (NASDAQ: PAYO) will announce its third quarter 2022 financial results on November 9, 2022, after market close. A conference call and earnings webcast will follow at 4:30 p.m. Eastern Time. The event will be accessible via the Payoneer Investor Relations website. Since 2005, Payoneer has established itself as a leading partner for digital commerce, facilitating cross-border payments for businesses ranging from entrepreneurs in emerging markets to major brands like Airbnb and Amazon.
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Alibaba.com has expanded its Manifest Grants Program, committing a total of $750,000 to support American small and medium-sized businesses. This initiative, conducted in partnership with organizations like Hello Alice and Indiegogo, aims to provide 50 grant recipients with $10,000 each in cash and $5,000 for logistics support. Participants will also gain access to various resources and mentoring opportunities, including a potential mentorship with Daymond John during Black Entrepreneurs Day on October 27. The program highlights Alibaba's commitment to enhancing diversity in entrepreneurship.
Payoneer (NASDAQ: PAYO) has appointed Assaf Ronen as its first Chief Platform Officer, tasked with leading the newly established Platform division combining Technology, Product, and High Value Service units. Ronen, previously Chief Product Officer at SoFi, brings extensive experience from Amazon and Microsoft. His leadership is expected to drive innovation in High Value Service offerings and enhance the Payoneer Account functionality. This strategic move aims to empower entrepreneurs and SMBs, focusing on customer-centric solutions in the evolving digital economy.
Payoneer reported strong financial results for Q2 2022, achieving a 34% year-over-year revenue growth to $148.2 million. Transaction costs decreased to 17.7% of revenue, improving net income to $4.4 million.
Adjusted EBITDA saw a remarkable 2,087% increase to $14.7 million. The company raised its 2022 revenue guidance to $580 million - $590 million and adjusted EBITDA guidance to $30 million - $35 million.
Payoneer (NASDAQ: PAYO) has partnered with Naver Z, a subsidiary of Naver Corp., focusing on the digital content creator economy. The collaboration facilitates quicker, more cost-effective payments for ZEPETO's 320 million users, enhancing opportunities for creators to expand their global clientele. Payoneer's global financial infrastructure aims to simplify cross-border transactions, allowing creators to tap into new markets. This partnership signifies Payoneer's commitment to enhancing the payment experience in the growing virtual economy.
Payoneer (NASDAQ: PAYO) has expanded its tax services by introducing 1042 forms, aimed at simplifying tax obligations for marketplaces managing digital royalties for non-US residents. This move facilitates compliance for US-based platforms while enhancing Payoneer’s services in the growing digital royalties sector, which has an estimated 50 to 200 million international content creators. The new service automates tax entity collection, withholding calculations, and IRS filings, streamlining processes for digital content platforms.
Payoneer Global Inc. (NASDAQ: PAYO) will release its second quarter 2022 financial results on August 11, 2022, after market close. Following the announcement, senior management will hold a conference call at 4:30 p.m. Eastern Time to discuss the results. The event will be available via a live webcast and a replay on the Payoneer Investor Relations website. Established in 2005, Payoneer specializes in digital commerce solutions, empowering businesses worldwide with technology and connections.