“Innovative payments solutions for a borderless world” is how Payoneer positions its online cross-border payments handling service. Founded in 2005 and based in New York, Payoneer promises its customers lower fees, faster payments and greater flexibility when transferring money in 150 currencies and between 200 countries. Given its longevity and the fact that it’s ranked in the top 100 of Inc. 5000’s Financial Services companies, it’s a commitment that has clearly resonated with its target audience of SMBs and independent professionals who need a secure, efficient international payments platform.
Cross-selling through portfolio education
Payoneer’s business model is based on its customers’ usage of its payment platform for receiving payments from businesses in other countries. It is free for customers to sign up for Payoneer, so as soon they receive their account, Payoneer needs to focus its energies on getting them to start using the platform and introducing its customers to all of the services that could be relevant to them. In other words, Payoneer’s growth is dependent upon its customers’ success.