As the global demand for Filipino talent and goods surges, Payoneer (Nasdaq: PAYO), a leading cross-border payment platform, is addressing the challenges faced by Filipino freelancers and small-to-medium enterprises (SMBs) in managing international transactions.
The company announced recently its commitment to providing transparent, flexible, and user-friendly payment solutions tailored to the specific needs of these growing global businesses.
Addressing key challenges for Filipino SMBs and freelancers
According to Payoneer’s recent SMB Ambitions Barometer, a significant 50% of Filipino SMBs are prioritizing reaching new international customers. The study also highlighted that global expansion is seen as a catalyst for improved innovation (62%), better supply chains (57%), and enhanced financial performance (54%). However, navigating the complexities of cross-border payments remains a significant hurdle for many.
The burgeoning freelance economy in the Philippines, with 28.2% of the workforce self-employed as of February 2025, further underscores the need for efficient payment solutions. Payoneer’s platform aims to alleviate the issues of outdated financial systems, hidden fees, and administrative burdens that can hinder the growth of these businesses.
Payoneer emphasizes the key features of its platform designed to facilitate seamless international payment management. These include transparent fees, multi-currency receiving accounts, a simple and intuitive setup process, tools to simplify compliance, and the capacity to manage payments from diverse international clients and platforms.
A key benefit highlighted by Payoneer is its currency-receiving accounts, enabling users to receive payments in major currencies like USD, EUR, and GBP without the need for multiple foreign bank accounts. The company also stresses its commitment to clear and predictable fees, providing financial certainty for businesses engaged in frequent international transactions.
Payoneer’s platform is designed to cater to both individual freelancers and growing SMBs, offering scalable solutions for businesses of all sizes. The company’s global reach, supporting transactions with clients in major markets like the US, China, and Canada, combined with its understanding of the local Philippine context, positions it as a valuable asset for Filipino entrepreneurs.
Payoneer: Connecting Filipino businesses to the global economy
Recognizing the increasing digitalization of Filipino businesses, with 84% citing technology as a driver of innovation, Payoneer offers tools that integrate with major e-commerce and freelance platforms.
For e-commerce businesses, Payoneer provides features such as dedicated receiving accounts for marketplace payouts, multi-currency management dashboards, and streamlined options for paying international vendors.
Getting started with Payoneer involves a simple online sign-up process, verification, and linking a local Philippine bank account for withdrawals in PH Peso. Once set up, users can immediately begin receiving international payments.
Payoneer asserts its commitment to empowering Filipino freelancers and SMBs to expand globally by offering a cost-effective and efficient alternative to traditional financial systems.
The company believes its platform provides the necessary tools for these businesses to thrive on the international stage.
Five simple steps to start receiving global payments
Setting up a Payoneer account is quick and simple:
- Sign up — visit the Payoneer website and click ‘Open your account’.
- Provide information — enter personal and business details.
- Verification — submit necessary identification documents for verification.
- Link bank account — once verified, link your bank account to facilitate withdrawals in PH Peso.
- Receive payments — start receiving international payments through your Payoneer account.
As the freelance economy in the Philippines expands, so do the global ambitions of Filipino freelancers and SMBs. The company offers a solution that traditional financial systems can’t match, providing a flexible and cost-effective way to manage international payments.
With Payoneer, which had just celebrated its 20th anniversary this year, Filipino businesses now have the tools they need to thrive on a global stage. Sign up today and discover how easy global payments can be.