Money20/20 USA: Payoneer – Helping SMEs in Emerging Markets

Share
Youtube Placeholder
Payoneer’s Senior Director of Global Strategic Partnerships, Rowland Berry, Tells Us How the Company Is Supporting SMEs in Emerging Markets

Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and offer key insights into the future of fintech.

We spoke to Rowland Berry, Senior Director of Global Strategic Partnerships for Payoneer, about the challenges faced by SMEs in today’s uncertain economy, who shared the products and services the digital payments provider offers to help small businesses with their financial needs.

Payoneer: Helping SMEs overcome payments challenges

“If you’re a small business anywhere in the world, you probably don’t have a CFO,” says Berry. “You definitely won’t have a treasury management team.”

For Berry, the added complexity of being in an emerging market is that “you don’t have much choice when it comes to payments services available to you”. 

He adds: “There's a lot of very expensive prices for small businesses. Many use old methods to move money across borders which is very complex and time-consuming. 

“There are many challenges around regulatory risk in emerging markets too.

“This is where Payoneer can step in, and help SMEs bring all their payment capabilities and opportunities together into one platform and offer a seamless user experience.”

Of course, the challenge for Payoneer being in many different emerging markets is adhering to the various regulations in each, but Berry feels now the company is starting to see “real momentum” as it strives to improve the payments outlook for SMEs in these markets. 

Momentum is gained by the introduction of products and services, as Berry explains: “If you take a small business in Argentina that is selling products on global marketplaces, they have to be able to collect their income from whatever and wherever they’ve been billing for. 

“Quite often these businesses will have contractors they use in say, Vietnam, which means they need FX solutions on the way in and out. They’ll also have advertisement expenditures. 

“So issue virtual cards to support SMEs in this, along with other solutions. Today, we’re increasingly embedding more solutions for these businesses to help them see the scope for their business as global, supporting them in their integration with a global economy.”

For more from Berry and what Payoneer is doing to support SMEs in emerging markets, you can click on the video link above. 

Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days.

**************

Make sure you check out the latest edition of FinTech Magazine and also sign up to our global conference series – FinTech LIVE 2024

**************

FinTech Magazine is a BizClik brand.

Share

Featured Articles

Launching in 2025… The FinTech Survey

Shaping the future of finance, FinTech Magazine launches a comprehensive global fintech survey for 2025

Mastercard and Amazon Payment Services ink MEA Deal

Mastercard & Amazon to accelerate digital payment acceptance across nine countries, leveraging Mastercard Gateway technology

Klarna Partners with Adyen for In-Store BNPL Rollout

Swedish fintech giant to launch buy now, pay later services on Adyen's payment terminals across Europe, North America and Australia

FinTech LIVE Dubai - Speaker Sessions

Tech & AI

One Month to Go Until FinTech LIVE London

Financial Services (FinServ)

FDIC Proposes Rules Overhaul for Bank-Fintech Partnerships

Financial Services (FinServ)