Welcome to our dedicated page for Payoneer Global news (Ticker: PAYO), a resource for investors and traders seeking the latest updates and insights on Payoneer Global stock.
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) announces the appointment of Bea Ordonez as Deputy Chief Financial Officer, effective January 16, 2023. Michael Levine, the current CFO, will step down in March 2023. Ordonez brings over 20 years of experience in financial technology and has previously served in CFO roles at Sterling National Bank (NYSE: STL) and Webster Bank (NYSE: WBS). Payoneer expects to exceed its full-year 2022 guidance and reaffirms its commitment to increase adjusted EBITDA for 2023. The full year 2022 earnings will be released on February 28, 2023.
Alibaba.com has announced the 50 recipients of its second annual Manifest Grants Program, which aims to support American small businesses. Each winner will receive $10,000 and $5,000 in logistics resources. This year, the program saw nearly double the applicants, totaling 23,000, with 70% being women entrepreneurs and 90% identifying as BIPOC. The initiative emphasizes sustainability and diversity, with many winners already achieving notable revenues. Additionally, a new "Bonus Round" will give select recipients a chance to win extra support to develop their products.
Payoneer (NASDAQ: PAYO) has received in-principle approval as a Major Payment Institution License holder from the Monetary Authority of Singapore (MAS). This license will allow Payoneer to enhance its payment offerings, including mass payouts and card services, within Singapore. The approval reflects Payoneer's commitment to secure and effective payment platforms, bolstering its operations in a highly regulated market. Payoneer holds licenses in various regions, including the US, Europe, and India, underscoring its global reach.
Fiverr International Ltd. has launched "The Lift," an online recession hub designed for small-to-medium businesses and entrepreneurs navigating economic challenges. The platform includes articles, guides, and on-demand assistance powered by Fiverr talent. In collaboration with Payoneer and Xero, Fiverr offers users discounts and cash back incentives. A Fiverr survey reveals that while 80% of businesses reassess costs during the downturn, 78% remain optimistic about future prospects, highlighting a potential shift towards freelance talent for resilience.
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Pelico, a factory operations SaaS platform, has raised $18M in funding led by 83North and Serena, aiming to enhance its technology and expand its team. The funding will support Pelico's goal to become the Operational Management System for modern factories amid rising complexity in supply chains. With prominent clients like Collins Aerospace and Safran, Pelico has demonstrated its impact by reducing logistical cycle times by 50% and parts shortages by 72%. The company plans to open 50 new positions in France and the US over the next 18 months.
Payoneer Global Inc. (NASDAQ: PAYO) reported a 30% year-over-year revenue growth for Q3 2022, reaching $158.9 million. Key metrics include a 34% increase in revenue less transaction costs, and a net loss of $26.5 million. Adjusted EBITDA rose by 108% to $12.7 million. The company raised its 2022 revenue guidance to $605-$615 million and decreased transaction costs to ~18.0% of revenue. Notably, revenue from emerging markets grew 39% year-over-year, showcasing Payoneer's expanding market share.
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.