Payoneer not operating in winner-take-all market, CFO says

Payoneer (PAYO) is a financial technology company that provides online money transfer, digital payment services. In an exclusive interview with The Fly, the company’s CFO Bea Ordonez discussed Payoneer’s still underpenetrated market. “We don’t view it as a winner-take-all market. It’s a $6T market just from a payment perspective. If you add up the marketplace segment where we already have very significant share in that marketplace payment facilitation, and then take the direct-to-consumer and the B2B space – and we’ve done $64M give or take, in market volume or in payment volume over the last 12 months -, we see there’s a lot of market there. We see really good product market fit in specific regions. We’re looking at focusing our acquisition and our retention and our product development efforts to capture those markets. We’re very focused on what we’ve defined as our ideal customer profile and on the larger cohort of ideal customers within that segment. We see that we are able to successfully sort of – from a high touch motion and sales and marketing motion – successfully capture more share of those kinds of customers. We’ve shown high teams growth the last two quarters, and we’re showing very strong growth in regions where we have good product market fit. So, service oriented economies in LATAM, in APAC, where our B2B offerings are just very well suited today. And we’re making investments, again, from a product and platform perspective, as well as in the acquisition efforts in those markets.” “Meet the Company” is The Fly’s recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.