Financial technology company Payoneer (NASDAQ:PAYO) announced new features to improve the customer experience and help entrepreneurs easily connect to 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’s Chief Product Officer.
“Our new ‘Add Funds’ feature gives customers more control over their finances by allowing them to add funds to their Payoneer accounts directly from their bank accounts, ensuring they always have the necessary funds on hand to make payments worldwide. Our new updates to Payoneer Checkout help customers accept online payments through their stores securely and easily and can contribute to a higher customer conversion rate. Our commitment to always improve the customer experience enables SMEs to scale into new markets and thrive.”
Key new features include:
- More flexibility and control with Add Funds
The Add Funds feature marks a new evolution in Payoneer’s capabilities, helping customers better manage their finances. Payoneer customers can now easily add funds in one currency directly from their local bank accounts to their multi-currency Payoneer accounts. This feature allows SMBs more financial flexibility and control to use their money to order inventory, purchase services, or pay contractors through their Payoneer account. This new feature is live in select countries in Latin America and Europe, with further development planned soon.
- Smoother experiences with Payoneer Checkout
Payoneer Checkout is a solution that enables SMB merchants to seamlessly and securely accept online payments from customers worldwide shopping for goods and services in their online stores. Introduced in 2022, Payoneer Checkout has seen significant growth since its launch as SMBs increasingly rely on it to scale their businesses. The updates include new pre-dispute notifications to help SMB merchants avoid costly chargebacks. Native Shopify’s checkout feature helps merchants provide a seamless checkout experience to their customers when shopping on their Shopify store. With this major update, the checkout process becomes native, removing redirects so consumers can checkout on the same page in the online store.
- Increased efficiency when managing payments
Other feature updates support multiple payment requests, giving Payoneer account holders more flexibility and saving time. For example, as part of its latest feature release, Payoneer improved bulk payment processing for customer convenience. Group payment requests now handle up to 200 requests at once, and group payments now support sending funds to 500 Payoneer accounts simultaneously. The upcoming role management feature will help distribute the workload by allowing account holders to define contributor roles for staff.