US-based online payments firm makes PH its regional hub

By John Reczon Calay

American online payments firm Payoneer has designated the Philippines as its regional hub as it noted the country’s “significant contribution” to the company’s global business, along with its impact on the growth of freelance and outsourcing industries.

Payoneer CEO Scott Galit

Payoneer chief executive officer Scott Galit officially named its Manila office as the headquarters for Southeast Asia, Pakistan, Bangladesh, and Sri Lanka during his Philippine visit on Thursday, March 15.

“We’re thrilled to be helping small business owners tap into new opportunities all around the world,” Payoneer regional head Miguel Warren said.

“Our goal is to lower borders for them, and make it easier to go global. Technology and Internet have created a new digital economy, but with international expansion come a number of logistical and operational challenges. Through our payment services and our network of global partners, Payoneer provides the tools that modern businesses and entrepreneurs need to grow,” Warren added.

Galit also noted the excellent English language proficiency of the Filipinos. The Philippines ranked 15 out of 80 countries in the 2017 English Proficiency Index with a high proficiency score of 60.59. Among the countries in Asia, the Philippines ranked 3rd behind Singapore and Malaysia.

The cross-border payments company reported a 472-percent growth in the number of its active monthly users leading to a 483 percent growth in monthly core payment volume, and a 663-percent year-over-year billing service payment volume growth since its 2016 launch.

Warren attributed this growth on the steady global rise of the freelance and outsourcing economies. An estimated 1.3 million Filipinos worked in this industry in 2017, a report showed. It also generated revenues worth $25 billion (P1.3 trillion) in 2016.

“In a way, our work also became an advocacy. Payoneer’s growth parallels the trends that we see in the freelance and outsourcing industries. With our expansion came roadshows to empower small businesses, and we can’t wait to duplicate the Payoneer Philippines’ and the freelancers’ success in other countries. The goal is not just to benefit us but also to empower our core market,” Warren said.

1 Comment

  1. Customwritings

    March 22, 2018 at 2:32 PM

    My country doesnt support PayPal and Credit Card. I have a Local AliExpress Dropshipping store, use Payoneer to pay. How Can I do it In US using only Payoneer?

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