Payoneer Global Inc., a financial technology company that helps businesses operate across borders, reported a 16% year-over-year increase in revenue (excluding interest income) for the first quarter of 2025. The growth was mainly driven by B2B transactions and increasing use of its Card product.
“Payoneer delivered another solid quarter, driven by strong Average Revenue Per User (ARPU) growth, increasing adoption of our high-value products, focus on quality customers, and continued profitability,” said John Caplan, CEO of Payoneer.
Caplan highlighted a new milestone for the company, receiving a license to operate as a payment service provider in China. Payoneer is now the third foreign company to secure such approval in the country.
“This reflects our long-term commitment to complex, high-potential markets,” he said.
Growth seen in global markets
Despite concerns surrounding global trade, Caplan said Payoneer is seeing “positive outcomes” in Southeast Asia, Latin America, and the EMEA region. He explained that ongoing changes in global trade are opening up new paths for growth.
“Global trade is rapidly evolving. Payoneer’s customers are adapting, and we are right there with them,” Caplan said. “Approximately 40% of our revenue comes from helping customers sell into non-US markets. As supply chains shift and global workforces expand, we’re positioning ourselves to capture the upside.”
SMBs and Card services fuel revenue
Payoneer recorded strong performance among small and medium-sized businesses (SMBs), with $170 million in revenue from this group, an 18% increase from the same quarter last year. Of that, $110 million came from SMBs selling on marketplaces, while $52 million came from B2B transactions. Checkout services also grew, reaching $7 million in revenue.
Spending on Payoneer cards hit $1.4 billion, a 29% rise year-over-year, with broader usage seen across all regions.
The company also ended the quarter with $6.6 billion in customer funds, marking an 11% increase. Share repurchases totaled $17 million at an average price of $9.04, lower than the $51 million repurchased during the same period last year.
Expansion in China
In April, Payoneer finalized its purchase of Easylink Payment Co., Ltd., a licensed payment service provider in China. This move aims to strengthen Payoneer’s regulatory setup and improve services for Chinese businesses operating globally.
Caplan said the company remains focused on its long-term goal of supporting entrepreneurs and SMBs worldwide.
“We remain confident in our long-term thesis, serving the complex needs of global SMBs and entrepreneurs by providing a comprehensive and differentiated financial stack that enables them to achieve their cross-border ambitions.”
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