Payoneer Global Inc. (Payo): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico das finanças digitais, a Payoneer Global Inc. surge como uma força transformadora, revolucionando como freelancers, empresários e empresas navegam em pagamentos transfronteiriços. Esta inovadora Fintech Powerhouse criou um modelo de negócios sofisticado que preenche perfeitamente os ecossistemas financeiros globais, oferecendo baixo custo e soluções internacionais de transferência internacional de raios. Ao alavancar a tecnologia de ponta e as parcerias estratégicas, Payoneer se posicionou como um facilitador crítico para profissionais digitais que buscam transações financeiras sem atrito nos continentes, fazendo com que o comércio global complexo se sinta surpreendentemente simples e acessível.

Payoneer Global Inc. (Payo) - Modelo de Negócios: Parcerias -chave

Instituições financeiras e bancos em todo o mundo

Payoneer mantém parcerias com mais de 500 instituições financeiras em todo o mundo, incluindo:

Região	Número de parceiros bancários
América do Norte	87 bancos
Europa	156 bancos
Ásia-Pacífico	129 bancos
América latina	72 bancos
Oriente Médio/África	56 bancos

Plataformas de comércio eletrônico

Parcerias estratégicas incluem:

• Amazon - Processamento de pagamento para mais de 250.000 vendedores
• Upwork - Soluções de pagamento para 18 milhões de freelancers
• Airbnb - Infraestrutura de pagamento transfronteiriça
• Fiverr - Integração da rede de pagamento global

Redes de pagamento

Parcerias de rede de pagamento da Payoneer:

Rede	Volume de transação
Visa	Transações anuais de US $ 4,2 bilhões
MasterCard	Transações anuais de US $ 3,8 bilhões

Parceiros de integração de tecnologia

• Salesforce - Integração de CRM
• SAP - Enterprise Financial Solutions
• Oracle - Cloud Infrastructure Partnerships

Serviços globais de conformidade e regulamentação

Parcerias de conformidade:

• FinCen (Estados Unidos)
• FCA (Reino Unido)
• GAFI (padrões regulatórios internacionais)

Ecossistema total de parceria: 750+ parceiros financeiros e de tecnologia globais

Payoneer Global Inc. (Payo) - Modelo de Negócios: Atividades -chave

Processamento de pagamento transfronteiriço

A Payoneer processou US $ 36,3 bilhões em volume total de pagamentos durante 2022. A Companhia suporta transações em 190 países e lida com pagamentos em mais de 100 moedas.

Métrica	Valor
Volume total de pagamento	US $ 36,3 bilhões (2022)
Países apoiados	190
Moedas tratadas	100+

Desenvolvimento de infraestrutura de pagamento digital

A Payoneer investiu US $ 57,2 milhões em despesas de pesquisa e desenvolvimento em 2022, com foco no aprimoramento da infraestrutura tecnológica.

• Recursos de integração da API
• Roteamento de pagamento em tempo real
• Sistemas avançados de detecção de fraude

Gerenciamento de plataforma de tecnologia financeira

A plataforma suporta mais de 5 milhões de clientes comerciais em todo o mundo, com foco em freelancers, mercados e empreendedores digitais.

Métrica da plataforma	Valor
Total de clientes comerciais	5 milhões+
Crescimento anual da transação	22%

Serviços internacionais de transferência de dinheiro

A Payoneer facilitou as transferências internacionais com um valor médio de transação de US $ 3.200 por transação transfronteiriça em 2022.

• Tempo médio de transferência: 1-3 dias úteis
• Taxas de transferência: 0,5% - 2%, dependendo da rota
• Cobertura de rede de transferência global

Conformidade e gerenciamento de riscos

As despesas com conformidade atingiram US $ 24,5 milhões em 2022, com equipes dedicadas monitorando os requisitos regulatórios globais.

Métrica de conformidade	Valor
Despesas de conformidade	US $ 24,5 milhões
Jurisdições regulatórias monitoradas	50+
Taxa de prevenção de fraudes	99.7%

Payoneer Global Inc. (Payo) - Modelo de negócios: Recursos -chave

Infraestrutura de tecnologia de pagamento avançado

Payoneer mantém uma infraestrutura tecnológica robusta com as seguintes especificações:

Componente de infraestrutura	Detalhes técnicos
Infraestrutura em nuvem	Implantação de várias regiões baseada em AWS
Velocidade de processamento da transação	Até 500 milissegundos por transação
Investimento de tecnologia anual	US $ 42,3 milhões em 2023

Conformidade global e experiência regulatória

Os recursos de conformidade regulatória incluem:

• Licenças ativas em mais de 200 países e territórios
• Conformidade com os regulamentos financeiros internacionais
• Processos de verificação de KYC/AML

Plataforma de pagamento digital proprietária

Métrica da plataforma	Especificação
Volume anual de transações	US $ 55,4 bilhões em 2023
Número de métodos de pagamento integrados	47 opções de pagamento diferentes
Tempo de atividade da plataforma	99,99% de confiabilidade

Sistemas fortes de segurança cibernética

Detalhes da infraestrutura de segurança cibernética:

• Protocolos de criptografia de 256 bits
• Sistemas de detecção de fraude em tempo real
• Investimento anual de segurança cibernética: US $ 18,7 milhões

Extensa rede bancária internacional

Métrica de rede	Especificação
Número de parcerias bancárias	350+ instituições financeiras
Cobertura global	190 países
Suporte de moeda	Mais de 40 moedas

Payoneer Global Inc. (Payo) - Modelo de Negócios: Proposições de Valor

Transferências de dinheiro internacional de baixo custo

A Payoneer oferece taxas internacionais de transferência de dinheiro que variam de 0,5% a 3% por transação. Em 2023, a empresa processou US $ 55,3 bilhões em volume total de pagamento com um custo médio de transferência de 1,2%.

Tipo de transferência	Intervalo de taxas	Volume de transação
Transferências transfronteiriças	0.5% - 3%	US $ 55,3 bilhões (2023)
Pagamentos comerciais	1% - 2%	US $ 38,6 bilhões (2023)

Soluções de pagamento digital rápido e seguro

O Payoneer processa transações com um tempo médio de liquidação de 1 a 3 dias úteis. As métricas de segurança incluem:

• 99,97% de taxa de sucesso da transação
• Proteção de criptografia de 256 bits
• Sistema de detecção de fraude em tempo real

Recursos de conta de várias moedas

Payoneer suporta Mais de 40 moedas com recursos de conversão instantâneos. Os titulares de contas podem manter saldos em:

Tipo de moeda	Número de moedas	Taxa de conversão
Grandes moedas	25	Taxas interbancárias
Moedas de mercado emergentes	15	Taxas competitivas

Suporte a freelancers e empresas globais

Payoneer serve 4,3 milhões de contas de negócios e freelancers em 190 países. Os recursos da plataforma incluem:

• Faturamento instantâneo
• Pagamentos em massa
• Gerenciamento de formulários tributários

Transações financeiras transfronteiriças simplificadas

Estatísticas de transação para 2023:

Métrica de transação	Valor
Total de transações	68,2 milhões
Valor médio da transação	$810
Mercados globais servidos	190 países

Payoneer Global Inc. (Payo) - Modelo de Negócios: Relacionamentos do Cliente

Plataforma de autoatendimento digital

Payoneer fornece uma plataforma digital abrangente com os seguintes recursos:

Recurso da plataforma	Métricas de engajamento do usuário
Gerenciamento de contas on -line	Mais de 4,5 milhões de usuários registrados globalmente
Processamento de transações	Volume de pagamento total de US $ 54 bilhões em 2022
Conversão de moeda	Suporte para mais de 180 países e mais de 100 moedas

Suporte ao cliente on -line 24 horas por dia, 7 dias por semana

A infraestrutura de suporte ao cliente da Payoneer inclui:

• Canais de suporte multi-linguagem
• Tempo médio de resposta: 2-4 horas
• Suporte disponível em 9 idiomas

Gerenciamento de contas personalizado

Tipo de conta	Recursos de suporte dedicados
Contas corporativas	Gerentes de relacionamento dedicados
Comerciantes de alto volume	Soluções financeiras personalizadas

Fóruns da Comunidade e Centros de Recursos

Payoneer oferece:

• Base de conhecimento on -line com mais de 500 artigos
• Fóruns comunitários com mais de 100.000 participantes ativos
• Webinars e conteúdo educacional

Gerentes de relacionamento de negócios dedicados

Segmento de negócios	Cobertura de gerenciamento de relacionamento
Pequenas a médias empresas	Suporte personalizado de integração
Grandes clientes corporativos	Gerenciamento de contas estratégicas

Payoneer Global Inc. (Payo) - Modelo de Negócios: Canais

Plataforma baseada na Web

A partir de 2024, a plataforma da web da Payoneer suporta mais de 200 países e territórios, com 5 milhões de usuários registrados. A plataforma processa US $ 50 bilhões em volume anual de transações.

Métrica da plataforma	2024 dados
Usuários registrados	5 milhões
Países apoiados	200+
Volume anual de transações	US $ 50 bilhões

Aplicativo móvel

O aplicativo móvel da Payoneer foi baixado 2,3 milhões de vezes em plataformas iOS e Android, com uma classificação média de 4,5/5.

Integrações da API

A Payoneer oferece mais de 40 integrações diretas de API com mercados e plataformas globais.

• Integrações de mercado: Amazon, Upwork, Fiverr
• Plataformas de comércio eletrônico: Shopify, WooCommerce
• Redes freelancers: freelancer.com

Referências de Marketplace de Parceiros

A rede parceira gera 35% da receita total de transações da Payoneer, com mais de 500 parcerias estratégicas em todo o mundo.

Métricas de parceiros	2024 dados
Total de parcerias estratégicas	500+
Receita de referências de parceiros	35%

Equipe de vendas diretas

A Payoneer mantém uma equipe de vendas global de 450 profissionais que cobrem 15 escritórios regionais em todo o mundo.

Métrica da equipe de vendas	2024 dados
Total de profissionais de vendas	450
Escritórios regionais	15

Payoneer Global Inc. (Payo) - Modelo de negócios: segmentos de clientes

Freelancers e profissionais independentes

A partir de 2024, Payoneer atende a aproximadamente 4,5 milhões de freelancers em todo o mundo. A plataforma suporta profissionais em 190 países com soluções de pagamento.

Categoria freelancer	Número de usuários	Volume médio de transação anual
Profissionais criativos	1,2 milhão	US $ 85.000 por usuário
Profissionais técnicos	1,7 milhão	US $ 125.000 por usuário
Escrita/tradução	650,000	US $ 62.000 por usuário

Pequenas e médias empresas

A Payoneer suporta 500.000 empresas pequenas e médias em vários setores.

• Empresas globais de comércio eletrônico: 275.000
• Provedores de serviços digitais: 125.000
• Empresas de software e tecnologia: 100.000

Vendedores de comércio eletrônico

Processos Payoneer US $ 25 bilhões anualmente em transações de comércio eletrônico para vendedores on-line.

Plataforma de comércio eletrônico	Número de vendedores	Vendas médias anuais
Amazon	85,000	$350,000
eBay	62,000	$175,000
Etsy	43,000	$85,000

Contratados internacionais

Payoneer gerencia pagamentos transfronteiriços para 350.000 contratados internacionais.

• Empreiteiros de tecnologia: 125.000
• Profissionais de design e marketing: 95.000
• Profissionais de consultoria: 130.000

Nômades digitais e trabalhadores remotos

A Payoneer suporta 250.000 nômades digitais com soluções de pagamento internacional.

Região	Número de nômades digitais	Renda média anual
América do Norte	95,000	$110,000
Europa	85,000	$95,000
Ásia-Pacífico	70,000	$85,000

Payoneer Global Inc. (Payo) - Modelo de Negócios: Estrutura de Custo

Manutenção de infraestrutura de tecnologia

Custos anuais de infraestrutura de tecnologia para Payoneer em 2023: US $ 47,3 milhões

Categoria de custo	Valor ($)
Serviços em nuvem	18,500,000
Sistemas de segurança cibernética	12,700,000
Desenvolvimento de software	16,100,000

Conformidade e despesas regulatórias

Custos totais de conformidade em 2023: US $ 22,6 milhões

• Taxas de consultoria jurídica: US $ 8,4 milhões
• Licenciamento regulatório: US $ 6,2 milhões
• Sistemas de lavagem de dinheiro: US $ 7,9 milhões

Marketing e aquisição de clientes

Despesas de marketing para 2023: US $ 36,5 milhões

Canal de marketing	Gastos ($)
Publicidade digital	15,200,000
Marketing de conteúdo	7,800,000
Programas de parceria	13,500,000

Salários e desenvolvimento de funcionários

Total de despesas de pessoal em 2023: US $ 89,7 milhões

• Salários base: US $ 62,3 milhões
• Benefícios e seguro: US $ 14,6 milhões
• Treinamento e desenvolvimento: US $ 12,8 milhões

Taxas de processamento e transação de pagamento

Custos relacionados à transação para 2023: US $ 41,2 milhões

Categoria de taxa	Valor ($)
Taxas de gateway de pagamento	22,600,000
Custos de transação transfronteiriços	18,600,000

Payoneer Global Inc. (Payo) - Modelo de Negócios: Fluxos de Receita

Taxas de transação

Payoneer gera taxas de transação com a seguinte estrutura:

Tipo de transação	Porcentagem de taxa
Pagamentos transfronteiriços	1.5% - 3%
Transações de comércio eletrônico	2.0% - 2.9%
Pagamentos de mercado	1.0% - 2.5%

Margens de conversão de moeda

As margens de conversão de moeda variam entre:

• 0,5% - 2,5% acima das taxas de câmbio interbancárias
• Margem média: 1,75% por transação

Taxas anuais da conta

Tipo de conta	Taxa anual
Conta básica	$0
Conta profissional	$29.95
Conta corporativa	$199.00

Assinaturas de serviço premium

Recutação de receita de assinatura:

• Relatórios avançados: US $ 19,99/mês
• Gerenciamento de várias moedas: US $ 49,99/mês
• Serviços de integração personalizados: US $ 99,00/mês

Licenciamento da solução corporativa

Segmentos de receita de licenciamento corporativo:

Categoria de licenciamento	Faixa de receita anual
Soluções de pequenas empresas	$50,000 - $150,000
Empresa do mercado intermediário	$250,000 - $750,000
Grande empresa global	$1,000,000 - $5,000,000

Payoneer Global Inc. (PAYO) - Canvas Business Model: Value Propositions

You're looking at how Payoneer Global Inc. delivers tangible value to its users, the global small and medium-sized businesses (SMBs) and entrepreneurs who need to move money across borders without the usual headaches. The core value is simplifying complexity, which the numbers clearly back up.

Simplified, low-friction cross-border payments for SMBs and entrepreneurs

The platform's primary value is making cross-border payments feel local, reducing the friction that typically plagues international transactions. This is evidenced by the sheer scale of money flowing through the system. For the full year 2025, the Total Processed Volume (TPV) surged to $82 billion in total. To give you a snapshot of that activity level, in the third quarter of 2025 alone, the volume processed was $22.3 billion. This volume is supported by consistent platform activity; for instance, 6.2 million transactions were completed monthly on Payoneer in 2025.

The focus on quality customers, defined as Active Ideal Customer Profiles (ICPs)-those with over $500 per month in volume-shows a commitment to the core user base, though this metric saw a slight dip to 548,000 in Q3 2025. Still, the take rate (revenue as a percentage of volume) for SMB services has been expanding, hitting 121 bps in Q3 2025, up from 109 bps in Q1 2025, suggesting users are deriving more value or adopting higher-priced services.

Here's a quick look at the scale of the platform's financial throughput as of late 2025:

Metric	Q3 2025 Value	YoY Growth (Q3 vs Q3 2024)
Total Revenue	$270.9 million	9%
Revenue excluding interest income	$211.4 million	15%
Volume ($bn)	$22.3 billion	9%
SMB Customer Revenue ($mm)	$192 million	17%

Multi-currency accounts for holding and managing funds globally

The ability to hold and manage funds globally is central to the value proposition, allowing entrepreneurs to keep earnings in the currency received, avoiding immediate conversion fees and volatility risk. As of September 30, 2025, customer funds held on the platform reached $7.1 billion, marking a 17% year-over-year increase. This demonstrates significant user trust in Payoneer Global Inc. to safeguard their working capital.

The platform's infrastructure supports this global management capability:

• Global reach extends to over 210 countries and territories.
• Supports transactions in over 160+ currencies.
• Approximately 40% of Payoneer Global Inc.'s revenue comes from helping customers sell into non-US markets, highlighting its role in facilitating global trade flows.

Working capital and card services to fuel business growth

For many users, the value extends beyond simple transfers into providing immediate access to funds for business operations and spending. The Payoneer card product is a key enabler here. In the third quarter of 2025, card spend hit a record $1.6 billion, which was up 19% compared to the prior year. This growth in card usage shows users are actively deploying their funds globally for procurement or expenses.

Furthermore, the growth in higher-value services like B2B and Checkout revenue streams shows the platform is successfully upselling working capital solutions. B2B SMB revenue grew by 27% year-over-year to $62 million in Q3 2025, and Checkout revenue saw an even sharper increase of 49% to $9 million in the same period. This suggests that the working capital and payment solutions are becoming more integral to the customers' operational finance. It's defintely a sign of successful product adoption.

The platform is also seeing strong adoption of its integrated financial stack, with 53% of active customers using 3+ accounts payable (AP) products as of Q2 2025.

Access to a global business network of payers and payees

The network effect is a critical, though less directly quantifiable, value proposition. Users gain access to a pool of established payers and payees, which reduces the need to onboard new, unverified counterparties. Payoneer Global Inc. has deepened partnerships with major marketplaces like Amazon, Walmart, and eBay to streamline payouts to sellers in over 120 countries.

The scale of the network is reflected in the total user base estimates. While SEC filings reported approximately 2 million active customers in 2025, the total user base, including indirect users like freelancers and marketplace sellers, is estimated to be between 5 to 8.1 million. This large, interconnected base of businesses and entrepreneurs forms the network that reduces counterparty risk and transaction discovery time for every new user joining the platform.

Finance: draft 13-week cash view by Friday.

Payoneer Global Inc. (PAYO) - Canvas Business Model: Customer Relationships

You're looking at how Payoneer Global Inc. manages its relationships with its millions of global users, which is key to their strategy of moving upmarket and increasing revenue per customer. Honestly, the data shows a clear dual approach: high-touch service for the biggest spenders and scalable digital tools for everyone else.

Dedicated account management for larger, upmarket customers

Payoneer Global Inc. focuses significant effort on its most valuable customers, the Ideal Customer Profiles (ICPs). As of Q3 2025, the company had 548,000 Active ICPs, defined as customers processing over $500 per month in volume. ARPU excluding interest income growth has been a major indicator of success with this segment, showing a 22% year-over-year increase in Q1 2025 and again in Q3 2025. This sustained, high double-digit ARPU growth is explicitly driven by continued strength with customers processing over $10,000 a month. While the exact number of customers receiving dedicated account management isn't public, the focus on this higher-value cohort suggests a tailored, relationship-driven approach for those contributing the most to the platform's monetization.

Digital self-service tools and automated payment workflows

For the broader base, the relationship is managed through scalable digital tools designed to reduce friction and manual work. Payoneer Global Inc. has been rolling out significant upgrades to its platform in 2025 to automate routine financial operations.

• Redesigned Withdraw to Bank experience for fewer errors.
• Direct bank feed integration, such as with NetSuite, to sync transactions automatically.
• Tools allowing account admins to review and approve batch payments prepared by operational teams.
• Custom exchange rate alerts to remove manual monitoring for conversion timing.

This automation helps scale the relationship without proportionally scaling the support staff, which is crucial for maintaining operational efficiency as the customer base grows.

High cross-selling rate, with 53% of active customers using 3+ AP products

The depth of the customer relationship is directly measured by product adoption. Payoneer Global Inc. is successfully cross-selling its Accounts Payable (AP) products across its user base. As of Q2 2025 reporting, 53% of active customers were utilizing 3 or more AP products. This is a significant increase from 40% reported in Q1 2022, showing a clear trend of customers embedding more of the financial stack into their operations. The platform supports over 160+ currencies and extends its reach to over 210 countries and territories.

Here's a look at how product adoption and revenue diversification are trending:

Metric	Value (Latest Available)	Context/Period
Active Customers Using 3+ AP Products	53%	Q2 2025
ARPU Growth (ex. Interest Income)	22%	Q3 2025 YoY
B2B SMB Revenue Growth	27%	Q3 2025 YoY
Checkout Revenue Growth	49%	Q3 2025 YoY
Customer Satisfaction Rate	97.2%	As of 2025

Digital marketing and in-platform engagement to drive product adoption

Product adoption is reinforced through continuous in-platform communication and strategic partnerships. Payoneer Global Inc. actively promotes its expanded capabilities through platform updates, such as the 'Grow Smarter in 2025' features focusing on workflow automation. The company also leverages key commercial relationships to drive usage of its payout services. For instance, Payoneer Global Inc. has deepened partnerships with Amazon, Walmart, and eBay to simplify cross-border payouts. The platform supports receiving accounts in multiple currencies, including USD, EUR, GBP, and JPY, allowing users to hold balances without immediate conversion. This deep integration into major commerce ecosystems serves as a powerful, implicit form of engagement driving continued platform use.

If onboarding takes 14+ days, churn risk rises.

Payoneer Global Inc. (PAYO) - Canvas Business Model: Channels

You're looking at how Payoneer Global Inc. gets its services into the hands of its global customer base as of late 2025. It's a multi-pronged approach, relying heavily on digital access but supported by deep integrations and physical card utility.

Direct digital platform (website and mobile app)

This is the core interface where most of the action happens. The platform serves as the central hub for account management, receiving funds, and initiating payouts. As of the third quarter of 2025, Payoneer Global Inc. reported serving nearly 2 million active customers. 6.2 million transactions were completed monthly on the platform in 2025, showing consistent daily engagement. The platform's success is also reflected in the Average Revenue Per User (ARPU) excluding interest income, which grew by 22% year-over-year in Q3 2025, marking the fifth consecutive quarter of over 20% growth. This suggests users are not just holding funds but actively using the platform's higher-value services.

Integrated payment solutions for global online marketplaces

This channel is about embedding Payoneer directly into the checkout and payout flows of major e-commerce platforms. It's a critical path for small and medium-sized businesses (SMBs) selling globally. For the third quarter of 2025, revenue specifically from SMBs that sell on marketplaces hit $121 million, an 11% year-over-year increase. Overall volume flowing through the platform reached $22.3 billion in Q3 2025. The company's SMB customer take rate, which includes marketplace revenue, was 121 basis points in Q3 2025.

Here's a quick look at the SMB revenue breakdown from Q3 2025:

SMB Revenue Segment	Q3 2025 Revenue (in millions USD)	Year-over-Year Growth
SMBs that sell on marketplaces	$121 million	11%
B2B SMBs	$62 million	27%
Checkout (Merchant Services)	$9 million	49%

Payoneer-branded physical and virtual prepaid Mastercard cards

The cards offer customers a direct way to spend funds globally, acting as a bridge between their Payoneer balance and the real-world economy. This channel drives transaction volume and interchange revenue. In Q3 2025, spend on Payoneer cards reached a record $1.6 billion, which was up 19% compared to the prior year. This strong usage is a key driver for the growth in higher take-rate franchises the company mentions. The company renewed its long-term agreement with Mastercard in July 2025 to support these multi-currency card offerings.

Direct sales and business development for enterprise clients

This focuses on larger, more complex customers, often categorized as B2B or enterprise payouts, moving beyond the typical freelancer or small seller. The strategy involves moving upmarket to clients with more complex, multi-entity needs. In Q3 2025, revenue from B2B SMBs was $62 million, showing a strong 27% growth. Furthermore, one report indicated that enterprise payouts increased by 19% to $6.5 billion in Q3 2025, pointing to significant direct engagement with larger corporate clients for cross-border payments. Customers doing over $250,000 in monthly Gross Merchandise Volume (GMV) make up roughly 30% of core revenue, and in the B2B franchise, they account for about 50% of that revenue.

The key distribution and service access points look like this:

• Direct digital platform: Primary access for nearly 2 million active customers.
• Marketplace Integration: Drives $121 million in Q3 2025 SMB marketplace revenue.
• Card Issuance: Supported $1.6 billion in card spend in Q3 2025.
• Enterprise/B2B Sales: Targeted at larger clients, contributing to $6.5 billion in enterprise payouts (reported for Q3 2025).

Finance: draft 13-week cash view by Friday.

Payoneer Global Inc. (PAYO) - Canvas Business Model: Customer Segments

You're looking at the core engine of Payoneer Global Inc.'s business as of late 2025, focusing on who is driving the platform's growth based on the Q3 2025 results.

The primary focus remains squarely on Small and Medium Businesses (SMBs). These customers are the bedrock, generating approximately 70.87% of the total Q3 2025 revenue, which itself was $270.9 million. SMB customer revenue hit $192 million in the third quarter, marking a solid 17% year-over-year increase.

Within the broader SMB group, the B2B segment is showing particularly strong momentum. B2B SMBs revenue was $62 million in Q3 2025, which is a significant 27% year-over-year jump. This growth is a key indicator of Payoneer Global Inc.'s success in moving upmarket, as the CEO noted over 10 consecutive quarters of SMB take rate expansion.

The platform is clearly segmenting its customer base toward higher-value users. Payoneer Global Inc. reported having 548,000 Active Ideal Customer Profiles (ICPs) as of September 30, 2025. An Active ICP is defined as a customer with an average volume of over $500 per month over the trailing twelve-month period.

E-commerce sellers operating on global marketplaces form another critical part of this segment. Their revenue contribution in Q3 2025 was $121 million, up 11% year-over-year. The volume associated with these marketplace sellers reached $12.5 billion in Q3 2025.

Here's a quick breakdown of the revenue generated by the core SMB components in Q3 2025:

Customer Sub-Segment	Q3 2025 Revenue ($ millions)	Year-over-Year Growth
Total SMB Customers	192	17%
B2B SMBs	62	27%
SMBs on Marketplaces	121	11%
Checkout	9	49%

You can see the deliberate focus on higher-value customers, as the overall Active ICP count saw a slight 2% decline to 548,000, reflecting a strategic pivot toward larger clients with scale.

The platform also serves other groups, which contribute to the overall volume:

• B2B payments volume reached $3.1 billion, an increase of 11% year-over-year.
• Enterprise payouts volume was approximately $6.5 billion, up 19% year-over-year.
• Payoneer card spend hit a record $1.6 billion, up 19% year-over-year.

If onboarding takes 14+ days, churn risk rises, defintely something to watch as you scale these segments.

Finance: draft 13-week cash view by Friday.

Payoneer Global Inc. (PAYO) - Canvas Business Model: Cost Structure

You're looking at the expenses Payoneer Global Inc. racks up to run its global payments platform. Honestly, for a fintech company, the cost structure is dominated by the direct costs of moving money and keeping the tech humming.

Transaction costs are a major variable expense, directly tied to the volume flowing through the platform. For the full year 2025 guidance, Payoneer Global Inc. expects these costs to be approximately ~16.0% of revenue. To be fair, this represents optimization, as Q3 2025 transaction costs were reported at 15.7% of revenue, amounting to $42 million for that quarter alone.

Operating expenses (OpEx) are the fixed and semi-fixed costs of running the business. Payoneer Global Inc. reported total operating expenses of $235 million in Q3 2025. This figure bundles several key areas, including the required technology and employee compensation costs. For a deeper look, we can reference the component breakdown from the first quarter of 2025, which gives you a sense of where the overhead sits:

Expense Category	Q1 2025 Amount (in thousands USD)	Notes
Sales and marketing expenses	54,726	Includes certain customer acquisition costs.
General and administrative expenses	29,904	Includes corporate management compensation and overhead.
Depreciation and amortization	14,390	Amortization of intangible assets and software.
Total Operating Expenses (Q1 2025)	217,298	This is the total for Q1 2025.

Technology development and platform maintenance expenses fall primarily within Research and Development (R&D) and General and Administrative (G&A) lines. R&D specifically covers employee compensation and costs for developing new technologies. Employee compensation is a significant driver across all OpEx categories, especially for the technology teams maintaining the platform and ensuring compliance.

Sales, marketing, and customer acquisition costs (CAC) are managed with an eye toward long-term value. While the specific CAC number for late 2025 isn't published as a single figure, the focus on efficiency is clear. Payoneer Global Inc. saw its customer acquisition costs (CAC) drop by 15% during 2025, reflecting improved marketing return on investment (ROI). The result of this efficiency is a strong unit economic indicator:

• Lifetime Value (LTV) to CAC ratio increased to 4:1.
• Sales and marketing expenses in Q1 2025 were $54.726 million.
• Management noted that the majority of customers are acquired organically.

The overall cost management strategy is about unlocking leverage. The company is focused on optimizing transaction costs via scale and partnerships, alongside automation in back-office functions. Finance: draft 13-week cash view by Friday.

Payoneer Global Inc. (PAYO) - Canvas Business Model: Revenue Streams

Payoneer Global Inc. has reinstated its total revenue guidance for the full fiscal year 2025 to be between $1,050 million and $1,070 million.

A significant component of the revenue base is Interest income on customer funds (float). The expectation for this stream for the full year 2025 is set at $235 million. In the third quarter of 2025, the interest income reported was $59.5 million. Customer funds held as of September 30, 2025, stood at $7.1 billion.

Revenue derived from transactions, which includes cross-border fees, currency conversion spreads, and other service charges, is represented by the Take Rate. The overall Revenue as a percentage of volume (Take Rate) for the third quarter of 2025 was 121 bps. The revenue generated from SMB customers specifically, which feeds into the take rate calculation, reached $192 million in Q3 2025, marking a 17% year-over-year growth. Transaction costs as a percentage of total revenue for Q3 2025 were reported at 15.7%.

Here's a look at the revenue breakdown from the third quarter of 2025, illustrating the transaction-based revenue streams:

Metric	Q3 2025 Value	Year-over-Year Change
Total Revenue	$270.9 million	9 %
Revenue excluding Interest Income	$211.4 million	15 %
Interest Income	$59.5 million	(9) %
Total Volume	$22.3 billion	9 %
Total Take Rate (Revenue as % of Volume)	121 bps	(1) bp

The growth in transaction-based revenue is also evident through specific customer segments and pricing initiatives. You can see the components driving the SMB customer revenue:

• SMBs that sell on marketplaces revenue: $121 million, up 11% year-over-year.
• B2B SMBs revenue: $62 million, up 27% year-over-year.
• Checkout revenue: $9 million, up 49% year-over-year.
• Spend on Payoneer cards: Record $1.6 billion, up 19% year-over-year.

The company is seeing success in driving higher monetization per user, which directly impacts transaction fee realization. ARPU (Average Revenue Per User) excluding interest income grew 22% year-over-year in Q3 2025. Also, ARPU has increased 65% since Q1 of 2023, moving from $286 to over $470.