Payoneer and Stripe Join Forces to Enhance Global SMB Online Checkout Solutions

In a significant move for the financial technology landscape, Payoneer (NASDAQ: PAYO), the renowned company driving business growth across borders, has unveiled a strategic collaboration with Stripe, a leader in programmable financial services. This partnership aims to enrich Payoneer's Online Checkout services, specifically catering to small and medium-sized businesses (SMBs) seeking to simplify cross-border sales and expand their direct-to-consumer efforts.

This strategic initiative will first roll out in pivotal markets within the Asia Pacific (APAC) region, prominently including China and Hong Kong. The upgraded Payoneer Checkout capabilities, now powered by Stripe's cutting-edge technology, will allow SMBs to accept a broader array of payment options, enhancing the overall customer experience during online transactions.

What’s New in the Enhanced Checkout Experience?

The improvements come at a crucial time when consumer expectations are continuously evolving, especially in the realm of eCommerce. Notably, the enhanced checkout experience will include mechanisms like Buy Now Pay Later (BNPL), enabling merchants to integrate services from well-known providers like Affirm and Klarna. Additionally, the introduction of digital wallets such as Apple Pay and Google Pay will dramatically simplify payment processing for consumers, making purchasing more accessible and efficient.

Since the launch of Payoneer Checkout just three years ago, the platform has demonstrated impressive growth, scaling to nearly $1 billion in run-rate annual volume. This rapid expansion reflects the increasing adoption and demand from customers who are leveraging cross-border commerce. In the past year alone, Payoneer Checkout has generated approximately $30 million in revenue, showcasing a remarkable growth rate exceeding 100 percent year-over-year.

Adam Cohen, Payoneer's Chief Growth Officer, expressed the company’s commitment to facilitating seamless cross-border online trade for SMBs. He remarked, "This partnership with Stripe is a strategic step in our journey to expand our Checkout offering and deliver a best-in-class user experience at scale. By combining Payoneer’s local market distribution and expertise with Stripe’s exceptional checkout technology, we’re creating unparalleled value for our customers."

Transforming the eCommerce Landscape

The collaboration between Payoneer and Stripe doesn't merely enhance the checkout experience; it also aims to improve customer conversion rates significantly. By broadening the acceptance of different payment methods and enhancing security measures aimed at reducing fraud, the partnership is designed to empower SMBs in their quest to thrive in the competitive landscape of direct-to-consumer sales via their eCommerce platforms.

In line with Payoneer's broader strategic vision, this partnership aligns with their goal of expanding financial solutions for SMBs through significant partnerships. With Stripe’s advanced capabilities complementing Payoneer's commitment to customer-first solutions, the partnership promises unmatched benefits for entrepreneurs and businesses globally.

About Payoneer

Founded to connect businesses to the global economy, Payoneer has rapidly become a leading financial platform that empowers millions of companies with the necessary tools to transact confidently around the world. In particular, Payoneer addresses the needs of SMBs, especially in emerging markets, by providing robust solutions for managing cross-border payments, currency exchanges, and seamless fund transfers.

In conclusion, as Payoneer and Stripe embark on this new partnership, the enhanced Online Checkout service illustrates a forward-thinking approach designed to equip SMBs with effective tools to thrive in a rapidly evolving digital economy. With ongoing advancements in payment technology, businesses can look forward to utilizing a comprehensive suite of services that address their pressing needs in today’s global market.

For additional information about Payoneer, visit www.payoneer.com.