Payoneer introduces new product features to help SMBs increase payment efficiency
Financial technology company Payoneer (NASDAQ:PAYO) announced new features to improve the customer experience and help entrepreneurs easily connect with the global economy.
“SMBs trust us and grow with us because we’re constantly evolving to help them in ways that give them more control and flexibility,” said Oren Ryngler, Payoneer Chief Product Officer.
“Our new ‘Add Funds’ feature gives customers more control of their finances by allowing them to add money into their Payoneer accounts directly from their bank accounts, ensuring they always have the necessary funds at their fingertips to make payments globally. Our new updates to Payoneer Checkout help customers accept online payments via their webstores safely and easily, and can contribute to a higher rate of customer conversions. Our commitment to always upleveling the customer experience enables SMBs to scale to new markets and thrive.”
Key new features include:
- More flexibility and control with Add Funds
The ‘Add Funds’ function marks a new development in Payoneer’s capabilities, helping customers better manage their finances. Payoneer customers can now easily add single-currency funds directly from their local bank accounts into their multi-currency Payoneer accounts. This feature allows greater financial flexibility and control for SMBs to use their funds for ordering inventory, buying services, or paying contractors via their Payoneer account. This new capability is live in select countries in Latin America and Europe, with further rollout planned soon.
- Smoother experiences with Payoneer Checkout
Payoneer Checkout is a solution that empowers SMB merchants to seamlessly and securely accept online payments from their global customers that shop for goods and services at their online stores. Introduced in 2022, Payoneer Checkout has experienced significant growth since launch as SMBs increasingly rely on it to scale their businesses. Updates include new pre-dispute alerts to help SMB merchants avoid costly chargebacks. The Native Shopify checkout feature helps merchants deliver a seamless payment experience to their customers when shopping at their Shopify store. With this major update, the checkout process becomes native, removing redirects so consumers can pay on the same page within the online store.
- Increased efficiency when managing payments
Other feature updates support multiple payment requests, giving Payoneer account holders greater flexibility and saving them time. For example, as part of the latest feature release, Payoneer improved bulk payment processing for customer convenience. Batch payment requests now handle up to 200 requests at once, and batch payments now support sending funds to 500 Payoneer accounts simultaneously. The upcoming role management feature will help distribute workloads by letting account owners set up contributor roles for staff.