Payoneer : SMB’s Passport to global business growth

CIO Vendor Growth of new-age Information and communication technologies have enabled mid-sized companies compete in international markets along with established multinationals. These technology initiatives are leveling the playing field for small and mid-sized enterprises (SMEs) giving them opportunities to grow rapidly. Fortunately, with advent of ecommerce platforms and fintech experts like Payoneer, export markets in particular, are no longer the exclusive domain of large players with the resources to field global sales and production staffs. Based out of New York with Indian offices in Bengaluru and Delhi, Payoneer is a robust platform that enables crossborder commerce for all Indian SME companies doing business globally.

Leveraging its robust technology, compliance, operations and banking infrastructure, Payoneer delivers a suite of services that includes cross-border payments, working capital, tax solutions and risk management. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google and Upwork, Payoneer makes global commerce easy and secure.

To meet specific needs of Indian customers, Payoneer has customized its offerings to better suit the needs of the country and customers. Recently, Payoneer, announced the launch of its digital FIRC solution for eCommerce and Service sector exporters. In India, sellers and services exporters are required to furnish a Foreign Inward Remittance Certificate (FIRC).
Customers need to provide paper applications to their banks for every transaction to seek an FIRC. Moreover, banks charge customers significant document fees to process FIRC requests. With the launch of digital FIRCs, Payoneer customers get this document directly through email, without having to make any requests, at no additional cost.

"Payoneer delivers a suite of services that includes cross-border payments, working capital, tax solutions and risk management"

In addition, Payoneer’s India Partner network is a unique ecosystem of ecommerce-related service providers enabling sellers to expand their global foot print. This initiative provides access to service providers from categories like ecommerce tools, tax and compliance, logistics and return management, and account management.

Payoneer’s Omnipresence
Recently, an Indian startup selling tapestries on an e-commerce marketplace aimed for an expansion overseas by listing its new products. The company sought to deliver these products across multiple geographies including US, Europe, Australia, and Canada. One of the challenges faced by then was to get payments from several different countries, the company needed several different channels. By integrating with Payoneer and using their services, this company got their own receiving account in the home country where their products were being sold, thereby reducing their costs.

Payoneer is helping such companies of different sizes to plan their expansion across the globe. In today’s borderless digital world, Payoneer enables millions of small businesses, enterprises and professionals from more than 200 countries to reach new audiences by facilitating seamless, cross-border payments. “We are a hi-growth company with expansion planned in India and we are determined to enable the growth story of Indian SMEs further globally”, concluded Rohit Kulkarni, Country Manager, Payoneer.