By SimonCockingPayoneer empowers global commerce by connecting businesses, professionals, countries and currencies with its innovative cross-border payments platform. Answers provided by CEO Scott Galit.

Describe the company – the elevator pitch …

Payoneer empowers global commerce by connecting businesses, professionals, countries and currencies with its innovative cross-border payments platform. In today’s borderless digital world, Payoneer enables millions of businesses and professionals from more than 200 countries to reach new audiences by facilitating seamless, cross-border payments in 150 currencies. Additionally, thousands of leading corporations rely on Payoneer’s mass payout services. With Payoneer’s fast, flexible, secure and low-cost solutions, businesses and professionals in both developed and emerging markets can now pay and get paid globally as easily as they do locally. Founded in 2005 and based in New York, Payoneer is venture-backed, profitable and ranked in the top 100 of Inc. 5000’s Financial Services companies.

How are you different?

Payoneer differentiates itself along several lines. First, we focus exclusively on B2B payments, a space that has historically had much less attention and investment than B2C. Second, we are truly global by nature, with customers from over 200 countries, transacting in 150 currencies. The scale and the strength of our brand is also unique – we are one of the 1200 most visited websites in the world (as listed by Alexa), our last Payoneer Forum event in China drew over 1,600 attendees, and we move billions of dollars annually across borders. Clients can be sure that they have a partner with a strong, secure, scalable infrastructure, who has an incredible ecosystem of users around the world.

Finally, our risk, regulatory, and compliance capabilities set us apart. We’re fundamentally in the trust business, so we’ve invested tens of millions of dollars in developing a state-of-the-art platform that can enable robust risk management. Since we process millions of applications annually and handle customer’s financial information, data security and regulatory compliance is critical to us. That’s why we’re regulated all over the world; we are a regulated Electronic Money Institution that has passported its license across the entire EU, we are a registered Money Services Business in the U.S., and we have local licenses in India, Hong Kong, and Japan. Payoneer is also PCI level 1 certified, and we’ve successfully completed security reviews by Google before we supported them as a client.

Why will the company / product do well?

We have mastered the complexity that is typically an obstacle to doing business globally, and turned it into a competitive advantage that our clients, customers, banking partners, and regulators know they can rely on. Moreover, we are one of few players in this space that focuses on SMBs and on emerging markets, which we see as the future of digital growth.

Where are you based?

Our headquarters is in New York City, but we have offices in 12 locations around the world, spanning from Hong Kong to California.

When was the company launched?


What have been your biggest wins to date?

Today, Payoneer counts among its clients the largest digital companies around the world, including Amazon, Google, Airbnb, UpWork and Getty Images. In addition, our userbase continues to grow quickly, with up to 250,000 new applications being submitted each month.

What type of people (market segment) are you trying to attract to your product?

Payoneer works with all businesses – ranging from sole proprietors through to large corporations – that need to move money across borders. We integrate with marketplaces and networks to help them make mass payouts simpler than ever, and we work with SMBs to help them receive and make individual payments. Our customers are manufacturers, merchants, service providers and digital companies in vertical markets like ecommerce, freelancing, digital marketing, vacation rentals, and stock photography.

Tell us about your team?

The Payoneer team is more than 700 strong, and growing each day. Our offices span 10 different countries, and we have Payoneer Ambassadors in over 15 additional countries around the world. Some of our largest departments include R&D, Risk and Compliance, and Customer Care.

What are you long term plans for your product / company?

We are still in the very early stages of digital transformation of global business and we see that the payment needs of the digital economy are still largely unmet, so there is a long roadmap of new initiatives ahead of us. One of our primary plans is to expand our local market presence in more countries, to better support the business communities around the world. We’ve strengthened our presence in India, China, and Japan, and will continue growing to meet the needs of our customers all over the world. Additionally, we are continuing to work on automating the B2B workflow, addressing many of the complexities around the movement of money, recently adding capabilities like escrow, tax form services, and billing services to make it easier for our customers to get paid. As we move forward, we’ll continue to address the gap between the needs of digital businesses, and the capabilities of legacy financial systems.

What are your favourite tech gadgets?

Fortunately, most of our team is way more technically savvy than me. I use my PC a lot and my big move was when I finally gave up my Blackberry when it died and switched to a Samsung Galaxy.

What tech gadgets do you wish you could use to help you?

I wish I was better at communicating with emojis.

Anything else you’d like to add / we should have asked?

Just that we’re really excited about how technology is changing the world and as much as that is impacting our lives as consumers, it is even more profoundly changing the lives and opportunities for smart, resourceful entrepreneurs and business owners of all sizes, all over the world, to compete in the global economy. We think this is one of the most exciting developments shaping our world.

How do people get in touch with you?

The best way to contact us is to reach out through our website, at

If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

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