Financial Performance of Payoneer under Small and Medium Business Focus: Fiscal Year 2023 Results Announced by CEO John Caplan
Payoneer Unveils Growth Strategy, Focusing on Emerging Markets and SMB Customers
Payoneer, the global payment solutions provider, has outlined its growth strategy for the next 12 months and beyond, centring on a SMB-first approach, driving operational efficiencies, and expanding in emerging markets, particularly in Asia Pacific [1].
John Caplan, CEO of Payoneer, discussed the company's strategy, emphasising its focus on small and medium-sized businesses (SMBs) [1]. Payoneer is experiencing significant growth in regions such as Latin America, South Asia, Middle East, and North Africa, with SMB business accounting for 62% of Payoneer's Q4 2023 revenue [2].
The company's strategy includes deepening relationships with larger SMBs by offering higher-value services and optimized pricing [1]. In Q2 2025, SMB revenue grew by 18%, with particularly strong growth among B2B SMB customers (+37%), SMBs selling on online marketplaces (+8%), and users of its Checkout product (+86%) [2].
To drive operational efficiencies, Payoneer is investing in compliance infrastructure and leveraging technology upgrades. Improving transaction margins and managing regulatory risk are priorities as the company scales globally [2].
Payoneer's growth in emerging markets is supported by strategic partnerships. Notably, the company partnered with Stripe to enhance its Online Checkout experience for cross-border merchants in the Asia Pacific region. This includes enabling SMBs to accept popular payment methods like Buy Now, Pay Later (BNPL) from providers such as Affirm and Klarna, and digital wallets preferred in these markets (Apple Pay, Google Pay), specifically targeting China and Hong Kong initially [3].
The company is also evolving its Ideal Customer Profile (ICP) strategy to cater to the needs of these markets [1]. Payoneer's product and service diversification strategy includes leveraging cross-selling of products, such as its merchant Checkout solution and card services, to boost revenue. The card business grew 25% year-over-year, illustrating expansion of payment options [2].
Payoneer's growth strategy aligns with its guidance of $1.04–1.06 billion revenue for full-year 2025 and a strong outlook toward 2026 [1]. The company's FY 2023 revenue grew by 32% YoY, reaching $831m, and its volume increased by 11% YoY to $66bn [2]. Payoneer aims to increase enterprise volume, with enterprise payouts accounting for 7% of Payoneer's Q4 2023 revenue [2].
Payoneer forecasts 5-6% revenue growth for 2024 and a decline in adjusted EBITDA of between 5% and 10% [2]. However, no specific revenue or EBITDA growth projections for 2024 beyond these figures were mentioned.
In summary, Payoneer’s growth strategy hinges on leveraging its SMB customer base with tailored, higher-value payment solutions, improving operational efficiency to sustain profitability, and accelerating expansion in high-growth emerging markets through strategic partnerships and localized payment offerings [1][2][3].
[1] Payoneer Press Release, April 2025 [2] Payoneer Q2 2025 Earnings Call Transcript [3] Stripe Press Release, May 2025
- Payoneer plans to expand its focus in business sectors, particularly small and medium-sized enterprises (SMBs), by offering tailored, higher-value payment solutions in emerging markets, such as the Asia Pacific region.
- To drive operational efficiency and cater to the needs of these markets, Payoneer is investing in technology upgrades, strengthening compliance infrastructure, and evolving its Ideal Customer Profile strategy.
