Payoneer Introduces New Product Features to Propel Small Business Growth
Payoneer (NASDAQ: PAYO) announces new product enhancements to help SMBs increase payment efficiency and flexibility, including 'Add Funds' feature and updates to Payoneer Checkout.
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Introduction of 'Add Funds' feature for greater financial flexibility and control for SMBs
Significant growth of Payoneer Checkout since launch in 2022
Improved efficiency in managing payments with multiple payment requests and batch payment processing
Payoneer's announcement of new features aimed at enhancing payment efficiency for SMBs signifies a strategic move to strengthen its competitive position within the fintech sector. The 'Add Funds' feature, which facilitates the direct addition of funds from local bank accounts into Payoneer's multi-currency accounts, is a notable enhancement that could potentially increase user engagement and transaction volumes. The feature's current availability in select Latin American and European countries suggests a phased approach to global rollout, which may mitigate operational risks and allow for market-specific tailoring.
Moreover, the updates to Payoneer Checkout, including pre-dispute alerts and the Native Shopify checkout feature, are designed to improve the customer experience and potentially reduce transaction friction. These enhancements could lead to higher customer retention rates and an increase in merchant acquisition, as a smooth payment process is a critical factor for online businesses. The financial impact of these updates could manifest in the form of higher revenues from payment processing fees and expanded market share.
Lastly, the improvements in batch payment processing and the upcoming role management feature indicate Payoneer's commitment to operational efficiency and customer-centric innovation. By enabling account holders to manage payments more effectively and delegate responsibilities within their teams, Payoneer is addressing key pain points for SMBs, which could translate to higher customer satisfaction and loyalty.
The fintech industry is characterized by rapid innovation and intense competition, with companies constantly seeking to differentiate themselves through technology and customer service. Payoneer's product enhancements reflect a trend in the industry towards greater financial integration and user empowerment. The 'Add Funds' feature aligns with the broader industry move towards seamless financial management tools, while the Payoneer Checkout updates cater to the growing demand for secure and efficient online payment solutions.
From an industry perspective, these developments indicate Payoneer's strategic focus on expanding its service offerings to meet the evolving needs of SMBs in the global digital economy. As SMBs increasingly participate in cross-border commerce, the demand for multi-currency accounts and integrated payment solutions is likely to grow, positioning Payoneer favorably against competitors.
It is important to consider the potential challenges associated with the implementation of these new features, such as adoption barriers, regulatory compliance and the need for continuous technological updates to maintain a competitive edge. Payoneer's ability to navigate these challenges will be critical to the success of its enhanced offerings.
The introduction of new financial tools for SMBs by Payoneer could have broader economic implications. By increasing payment efficiency and providing greater financial control, these tools can contribute to the overall economic productivity of SMBs. Enhanced financial management capabilities allow SMBs to optimize their cash flow, invest in growth opportunities and potentially create more jobs.
The 'Add Funds' feature may also facilitate increased international trade by simplifying cross-border transactions, which is significant given the role of SMBs in global commerce. By reducing barriers to entry in international markets, Payoneer's updates could support the expansion of trade networks and contribute to economic diversification.
Furthermore, the focus on improving the online payment experience through Payoneer Checkout updates reflects the growing importance of e-commerce in the global economy. As online transactions become more user-friendly and secure, consumer confidence in digital marketplaces is likely to increase, potentially boosting consumer spending and stimulating economic growth.
12/20/2023 - 08:00 AM
Product enhancements help SMBs around the world increase payment efficiency and add greater flexibility and control.
NEW YORK --(BUSINESS WIRE)--
Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, announced new features to improve the customer experience and help entrepreneurs easily connect with the global economy.
“SMBs trust us and grow with us because we’re constantly evolving to help them in ways that give them more control and flexibility,” said Oren Ryngler, Payoneer Chief Product Officer. “Our new ‘Add Funds’ feature gives customers more control of their finances by allowing them to add money into their Payoneer accounts directly from their bank accounts, ensuring they always have the necessary funds at their fingertips to make payments globally. Our new updates to Payoneer Checkout help customers accept online payments via their webstores safely and easily, and can contribute to a higher rate of customer conversions. Our commitment to always upleveling the customer experience enables SMBs to scale to new markets and thrive.”
Key new features include:
More flexibility and control with Add Funds
Latin America and Europe , with further rollout planned soon.
Smoother experiences with Payoneer Checkout
Increased efficiency when managing payments
To learn more about Payoneer’s latest feature releases, please visit the website .
About Payoneer
Payoneer is the financial technology company empowering the world’s small and medium-sized businesses to transact, do business, and grow globally. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. It is our mission to enable anyone anywhere to participate and succeed in the global digital economy. Since our founding, we have built a global financial platform that has already made it easier for millions of SMBs, particularly in emerging markets, to pay and get paid, manage their funds, and grow their business.
Disclaimer
Payoneer (including via affiliated entities) does not carry on payment services business in jurisdictions where it does not have a license or authorization where required, and nothing herein should be construed as if Payoneer is soliciting or inviting any person outside the jurisdiction where it operates to engage in payment services provided by Payoneer (or any of its affiliated entities as applicable), unless permitted by applicable laws. Payoneer will not onboard or service customers from jurisdictions outside where the Payoneer is operating, unless permitted by law.
Forward-Looking Statements
This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Payoneer’s future financial or operating performance. For example, projections of future revenue, transaction cost and adjusted EBITDA are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “plan,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in applicable laws or regulations; (2) the possibility that Payoneer may be adversely affected by geopolitical events and conflicts, such as the current conflict between Israel and Hamas, and other economic, business and/or competitive factors; (3) Payoneer’s estimates of its financial performance; (4) the outcome of any known and/or unknown legal or regulatory proceedings; and (5) other risks and uncertainties set forth in Payoneer’s Annual Report on Form 10-K for the period ended December 31, 2022 and future reports that Payoneer may file with the SEC from time to time. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Payoneer does not undertake any duty to update these forward-looking statements.
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Source: Payoneer
What are the new product enhancements announced by Payoneer (NASDAQ: PAYO)?
Payoneer has announced new features to improve the customer experience, including the 'Add Funds' feature and updates to Payoneer Checkout.
What does the 'Add Funds' feature offer to Payoneer customers?
The 'Add Funds' feature allows customers to add single-currency funds directly from their local bank accounts into their multi-currency Payoneer accounts, providing greater financial flexibility and control.
What updates have been made to Payoneer Checkout?
Updates to Payoneer Checkout include new pre-dispute alerts to help SMB merchants avoid chargebacks and the introduction of Native Shopify checkout feature for a seamless payment experience.
How has Payoneer improved efficiency in managing payments?
Payoneer has improved efficiency by supporting multiple payment requests, batch payment processing for customer convenience, and introducing upcoming role management feature to distribute workloads.
What is the ticker symbol of Payoneer?
The ticker symbol of Payoneer is PAYO.
