Welcome to our dedicated page for Payoneer Global news (Ticker: PAYO), a resource for investors and traders seeking the latest updates and insights on Payoneer Global stock.
Payoneer Global Inc. (PAYO) is a leading American financial services company specializing in online money transfers, digital payment services, and providing customers with working capital solutions. Founded to empower global commerce, Payoneer connects businesses, professionals, countries, and currencies through its diversified cross-border payments platform.
Payoneer's core business revolves around facilitating seamless payments and financial transactions across borders. The company’s platform supports millions of businesses and professionals worldwide, enabling them to send and receive money, manage currency conversions, and access working capital efficiently.
With a strong focus on innovation and customer satisfaction, Payoneer has achieved significant milestones in the financial technology sector. The company has forged strategic partnerships with major corporations, enhancing its service offerings and expanding its global footprint.
Recently, Payoneer has been involved in several noteworthy projects aimed at improving its digital infrastructure and expanding its market reach. These initiatives include the introduction of new payment solutions tailored to meet the needs of small and medium-sized enterprises (SMEs) and the launch of enhanced security features to protect users' financial data.
Financially, Payoneer maintains a solid position with healthy revenue growth and sustained profitability. The company's commitment to transparency and regulatory compliance has earned it the trust of clients and stakeholders alike. As Payoneer continues to innovate and adapt to the evolving digital commerce landscape, it remains a pivotal player in the financial services industry.
Payoneer Global Inc. (PAYO) reported impressive financial results for Q4 and FY 2022, achieving a revenue growth of over 30% year-over-year. Q4 revenue reached $183.6 million, while FY 2022 revenue stood at $627.6 million, marking a 33% increase. The company reported a reduction in transaction costs as a percentage of revenue, from 21.4% in 2021 to 17.6% in 2022. Despite a net loss of $10.2 million in Q4, adjusted EBITDA improved to $10.6 million. For 2023, Payoneer expects revenue between $800 million and $810 million, driven by strategic growth in high-margin markets and services. The company has strengthened its executive team to support these growth initiatives.
Payoneer (Nasdaq: PAYO) has received its Electronic Money License (EMI) from the UK's Financial Conduct Authority (FCA), a crucial step for digital financial institutions. This license will enable Payoneer to continue offering its full range of services to UK businesses. The FCA's authorization reflects Payoneer's commitment to the UK market and its mission to support businesses in the global digital economy. The company aims to enhance its presence in the UK and assist more businesses in navigating global commerce. Payoneer already holds licenses in the US, Europe, Hong Kong, Japan, Australia, and India.
Salt Security has appointed Gilad Gruber as the new senior vice president of engineering. With over 20 years of experience in software solutions, Gruber will enhance the company's engineering functions as it expands its API security platform. The company is currently valued at $1.4 billion and has secured $271 million in total funding. Gruber previously served as CTO at Payoneer (PAYO), leading over 500 engineers. This leadership addition signifies Salt's commitment to technology innovation and addressing the growing threats to APIs, aiming to accelerate their growth trajectory and deliver value to enterprise customers.
Payoneer Global Inc. (NASDAQ: PAYO) will release its financial results for Q4 and the full year 2022 on February 28, 2023, after market close. A conference call and earnings webcast will follow at 4:30 p.m. Eastern Time on the same day to discuss the results. Investors can access the live webcast and its replay on the company’s Investor Relations website. Founded in 2005, Payoneer has empowered small businesses globally, especially in emerging markets, to transact and grow in the digital economy, leveraging a comprehensive financial platform designed to facilitate payments and fund management.
Payoneer Global Inc. (NASDAQ: PAYO) has announced significant executive changes aimed at enhancing its growth strategy. Adam Cohen returns as Chief Growth Officer to lead customer growth and partnerships, while Kivanc Onan and Kevin Ambrosini join as SVP Global Product Commercialization and SVP Corporate Development, respectively. The company aims for sustainable profitable revenue growth and a long-term goal of 20% revenue growth and 20% adjusted EBITDA margins. Concurrently, Robert Clarkson, the current Chief Revenue Officer, will step down on February 15, 2023. The leadership team changes align with Payoneer's mission to empower small businesses globally.
Payoneer Global Inc. (NASDAQ: PAYO) announces the appointment of Bea Ordonez as Deputy Chief Financial Officer, effective January 16, 2023. Michael Levine, the current CFO, will step down in March 2023. Ordonez brings over 20 years of experience in financial technology and has previously served in CFO roles at Sterling National Bank (NYSE: STL) and Webster Bank (NYSE: WBS). Payoneer expects to exceed its full-year 2022 guidance and reaffirms its commitment to increase adjusted EBITDA for 2023. The full year 2022 earnings will be released on February 28, 2023.
Alibaba.com has announced the 50 recipients of its second annual Manifest Grants Program, which aims to support American small businesses. Each winner will receive $10,000 and $5,000 in logistics resources. This year, the program saw nearly double the applicants, totaling 23,000, with 70% being women entrepreneurs and 90% identifying as BIPOC. The initiative emphasizes sustainability and diversity, with many winners already achieving notable revenues. Additionally, a new "Bonus Round" will give select recipients a chance to win extra support to develop their products.
Payoneer (NASDAQ: PAYO) has received in-principle approval as a Major Payment Institution License holder from the Monetary Authority of Singapore (MAS). This license will allow Payoneer to enhance its payment offerings, including mass payouts and card services, within Singapore. The approval reflects Payoneer's commitment to secure and effective payment platforms, bolstering its operations in a highly regulated market. Payoneer holds licenses in various regions, including the US, Europe, and India, underscoring its global reach.
Fiverr International Ltd. has launched "The Lift," an online recession hub designed for small-to-medium businesses and entrepreneurs navigating economic challenges. The platform includes articles, guides, and on-demand assistance powered by Fiverr talent. In collaboration with Payoneer and Xero, Fiverr offers users discounts and cash back incentives. A Fiverr survey reveals that while 80% of businesses reassess costs during the downturn, 78% remain optimistic about future prospects, highlighting a potential shift towards freelance talent for resilience.
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