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 (NASDAQ: PAYO) has partnered with Linnworks to enhance cross-border and B2B payment processing for online retailers. This partnership integrates payment options into the Linnworks platform, allowing merchants to manage payments to suppliers effectively. With improved currency conversion rates, retailers can reduce cross-border fees and expand their marketplace capabilities. Payoneer's SVP highlighted that the collaboration aims to empower businesses in the digital economy, while Linnworks' CEO expressed enthusiasm for increasing customer value through simplified payment management.
Payoneer (NASDAQ: PAYO) partners with EC21, a leading Korean B2B marketplace, to enhance cross-border transactions for Korean SMBs. This integration allows SMBs to manage their Payoneer accounts and process payments in over 190 countries directly on the EC21 platform. EC21 serves 90,000 Korean SMBs and connects them with 2.5 million businesses globally, covering diverse sectors. The collaboration aims to support SMBs in expanding internationally, improving their ability to engage with global markets through localized payment solutions.
Payoneer (NASDAQ: PAYO) and Fiserv (NASDAQ: FISV) have partnered to enhance global payout capabilities for businesses, allowing seamless cross-border transactions in over 190 countries. This collaboration integrates Payoneer's platform with Fiserv's Carat operating system, reducing costs while improving localized customer experiences. With the global cross-border payout market projected to grow 20-30% annually, the need for efficient payment solutions is crucial for businesses engaging in international commerce.
Payoneer (NASDAQ: PAYO) has partnered with SEAGM, a Malaysian digital goods e-commerce platform, to facilitate direct payments to SMBs across multiple countries including India, China, and Turkey. This collaboration aims to enhance SEAGM's payment capabilities, allowing over 11 million active customers to receive payments directly into local bank accounts. Payoneer's technology supports the growing demand in the gaming and digital entertainment sectors, helping sellers expand their product offerings and user base.
Payoneer (NASDAQ: PAYO) has appointed John Caplan as co-CEO alongside Scott Galit, effective immediately. This leadership transition will continue until the end of 2023, when Caplan will become the sole CEO. Galit will retain a strategic role overseeing regulated activities. Caplan, known for his success at Alibaba.com, aims to drive growth and expand Payoneer's product suite, focusing on customer-centric services in the digital economy. The Company's strong financial position and vast opportunities are highlighted as it seeks to enhance shareholder value.
Payoneer Global Inc. (NASDAQ: PAYO) announces participation in upcoming investor conferences. Scott Galit, CEO, and Michael Levine, CFO, will present at Needham’s 17th Annual Technology and Media Conference on May 19, 2022 at 3:00 pm ET, and at William Blair’s 42nd Annual Growth Stock Conference on June 9, 2022 at 2:10 pm ET. Interested parties can access presentations via Payoneer’s investor relations website.
Payoneer Global Inc. (NASDAQ: PAYO) reported a 36% increase in Q1 2022 revenue, reaching $137 million, driven by strong adoption of higher value services. Net income stood at $20.2 million compared to a net loss of $3.5 million a year earlier. Adjusted EBITDA rose to $10.4 million from $7.8 million. Notably, B2B AP/AR volumes surged 58%, highlighting growth potential. Payoneer raised its 2022 guidance, now estimating revenue between $550 million and $560 million, acknowledging resilient performance amid geopolitical challenges.
Payoneer (NASDAQ: PAYO) has launched Payoneer Checkout, expanding its services into direct-to-consumer payment acceptance for global eCommerce merchants. This initiative targets the growing DTC market, projected to reach $175 billion in the US and $100 billion in India by 2025. The new service simplifies payment processes, allowing small to medium businesses to manage funds and gain access to working capital. Currently available in the Asia-Pacific region, Payoneer Checkout will gradually expand worldwide.
Payoneer Global Inc. (NASDAQ: PAYO) is set to announce its first quarter 2022 financial results on May 12, 2022, post-market close. A conference call and earnings webcast will follow at 5:00 p.m. ET to discuss the results. Investors can access the live event and replay via the Payoneer Investor Relations website at investor.payoneer.com. Payoneer has established itself as a leader in digital commerce, facilitating global payments for businesses since 2005.
Payoneer (NASDAQ: PAYO) announced the winners of its sixth annual Entrepreneurship Awards, recognizing outstanding digital entrepreneurs from Australia, India, Israel, Mexico, and China. Notably, women secured 60% of the awards among 4,315 entrants from 170 countries. The winners include Candice Deepler (Disruptor of the Year), Archana Garodia Gupta (Socially Responsible Business of the Year), Lior Pozin (eCommerce Business of the Year), Guadalupe Rincón (Freelance Business of the Year), and Wen Xu (Entrepreneur of the Year). The awards celebrate creativity and sales growth in the digital economy.