In a nutshell, can you describe how Payoneer helps its customers?
Payoneer is an innovative cross-border payments company that helps businesses all over the world pay and get paid.
What makes Payoneer stand out from its competitors? Why should customers choose you?
What really sets us apart is our unparalleled scale around the world, and the scope of our end-to-end payment solution. Our mission is to empower entrepreneurs and businesses to grow globally. To meet all of their complex needs at the local level, we operate in 200 countries and territories, and in over 150 currencies. We go far beyond payments, offering global mass payouts along with additional services for managing tax, working capital, compliance & risk, and collection of funds.
In short, Payoneer offers a cheaper, faster, and more transparent solution for cross-border payments that is suitable for both the modern-day SMB and the large-scale enterprise.
Which international markets are you seeing the biggest demand for your services and why do you think this is?
Our growth is driven by global trends. The digital economy has lowered barriers to entry for new businesses worldwide, creating a more connected ecosystem that makes global expansion more attainable. In particular, we see developing economies growing at remarkable rates, surpassing the growth in mature markets. China has long been a leader in eCommerce, but now countries like Vietnam, Korea, Japan, and India are following suit. Our company is built to fuel global growth and to make it easier for businesses to succeed in the modern economy.
What are Payoneer’s requirements for becoming a customer?
We work with businesses of all sizes, ranging from the individual merchant in Bangladesh, to the Chinese eCommerce company with hundreds of employees, to the world’s largest brands like Amazon, Airbnb, CDiscount, Google, Getty Images, Rakuten, Wish.com and Upwork.
How is Payoneer looking to grow and adapt your product offering in this ever changing ecommerce landscape?
We’re going to continue to invest in Payoneer’s product to better serve our clients. We’ll be expanding the number of global receiving accounts that we offer, continue building our working capital solution, and will roll out new services. We have some exciting new partnerships that will be announced over the coming year, with new system integrations and new marketplace partners added to our roster. In addition, we’re continuing to invest in our local presence around the world, with more offices planned, and continued growth in our employee count.
What do you think will be the next big thing in ecommerce and why?
Globalization is not a matter of ‘if’ or ‘when’ – it’s already happening, and we’ve been seeing it increase every year for the last several decades. Markets which have traditionally focused more on their strong domestic economy or on imports, like the UK and US, are beginning to see the benefits of taking part in the global export economy, as consumers all over the world are getting more comfortable with buying across borders. As this happens the world economy is becoming more global and more diverse. At Payoneer, we see the strong impact that this trend has on the global ecommerce industry every day.
In the context of Europe, it will be interesting to follow what the implications of Brexit will be on global trade and ecommerce. With so much uncertainty, it’ll be crucial for SMBs and enterprises to diversify their revenue stream and evaluate the way they operate in Europe in preparation for what’s to come.
Why did you want to be a part of Retail Without Borders?
We are constantly working to reduce the friction of cross-border trade, and we love being part of the Retail without Borders community that works to achieve that very same goal.
What are you most looking forward to at Retail Without Borders London 2019?
Most of all, we’re thrilled to get another opportunity to spend time with our customers, and to discuss the eCommerce trends for the coming year with them and key industry experts.