Payoneer Sees 50% YoY Growth in Q4 in LatAm, Asia, Middle East and North Africa

In its fourth-quarter results, commerce tech company Payoneer said it wants to keep growing, according to a Thursday (March 3) company press release.

CEO Scott Galit said some of the highlights of the fourth quarter included more revenue and more customers signing up, with greater adoption of B2B accounts payable (AP) and accounts receivable (AR) services.

“Given our strong position and momentum, I am incredibly optimistic about our future,” Galit said in the release. “We are building on strength and just beginning to leverage our unique position in this massive market. We are excited about the growth potential for our platform and the positive returns we are generating from our investments as we continue to expand our broad range of services which enable businesses around the world to be successful across all digital sales channels.”

Among Payoneer’s business highlights, there was over 50% growth year over year in several regions, like Latin America, Southeast Asia and South Asia. There was also more progress on broadening Payoneer’s portfolio of higher value services, along with a partnership with Walmart.

Chief Financial Officer Michael Levine said the plan for 2022 included “to continue building the go-to platform for global commerce.”

Levine continued: “We see the huge potential of the markets we serve and will continue to invest significantly to expand global sales teams and marketing capacity in high growth markets; differentiate our platform by increasing our R&D and Product teams to build, enhance and deliver new products and services; and launch initiatives and campaigns to accelerate growth of our higher value services such as B2B AP/AR, Payoneer Commercial Card, Merchant Services, and expand more aggressively into high growth geographic markets.”

In December, PYMNTS wrote about Payoneer’s Walmart partnership, which will power three types of working capital solutions for third-party sellers.

See also: Walmart Teams With Payoneer to Power Working Capital Solutions for Third-Party Sellers

The new solutions will help Walmart sellers with growing their businesses, through offering different working capital options that suit a merchants needs. Additionally, the capital will aid them in helping sellers branch out into new categories, as well as getting ready for busy seasons.