Payoneer Introduces New Product Features to Propel Small Business Growth

December 20, 2023 at 08:00 AM EST

Product enhancements help SMBs around the world increase payment efficiency and add greater flexibility and control.

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

The ‘Add Funds’ function marks a new development in Payoneer’s capabilities, helping customers better manage their finances. Payoneer customers can now easily add single-currency funds directly from their local bank accounts into their multi-currency Payoneer accounts. This feature allows greater financial flexibility and control for SMBs to use their funds for ordering inventory, buying services, or paying contractors via their Payoneer account. This new capability is live in select countries in Latin America and Europe, with further rollout planned soon.

Smoother experiences with Payoneer Checkout

Payoneer Checkout is a solution that empowers SMB merchants to seamlessly and securely accept online payments from their global customers that shop for goods and services at their online stores. Introduced in 2022, Payoneer Checkout has experienced significant growth since launch as SMBs increasingly rely on it to scale their businesses. Updates include new pre-dispute alerts to help SMB merchants avoid costly chargebacks. The Native Shopify checkout feature helps merchants deliver a seamless payment experience to their customers when shopping at their Shopify store. With this major update, the checkout process becomes native, removing redirects so consumers can pay on the same page within the online store.

Increased efficiency when managing payments

Other feature updates support multiple payment requests, giving Payoneer account holders greater flexibility and saving them time. For example, as part of the latest feature release, Payoneer improved bulk payment processing for customer convenience. Batch payment requests now handle up to 200 requests at once, and batch payments now support sending funds to 500 Payoneer accounts simultaneously. The upcoming role management feature will help distribute workloads by letting account owners set up contributor roles for staff.

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.