Payoneer Global Inc. reported robust financial results for the first quarter of 2025, underscoring its growing influence in the global small and medium business (SMB) fintech sector. The company posted a 16 percent year-over-year increase in revenue (excluding interest income), propelled by rising average revenue per user (ARPU), product adoption, and volume growth. ARPU rose 22 percent year-over-year, marking its seventh consecutive quarter of acceleration.
CEO John Caplan highlighted the company’s ongoing profitability and strategic expansion. “Payoneer delivered another solid quarter, driven by strong ARPU growth, increasing adoption of our high-value products, and a focus on quality customers,” he said. Notably, Payoneer became only the third foreign company licensed as a payment service provider in China—reinforcing its regulatory edge and long-term commitment to high-potential, complex markets.
Revenue from SMB customers reached USD170 million, an 18 percent year-over-year increase. Key drivers included a 37 percent surge in B2B SMB revenue and a 96 percent increase in merchant services (Checkout) revenue. Payoneer card spend climbed to USD1.4 billion, up 29 percent year-over-year, with broad regional adoption. Meanwhile, total customer funds held reached USD6.6 billion, reflecting strong underlying client activity.
With roughly 40 percent of its revenue sourced from non-U.S. markets, Payoneer continues to benefit from trade diversification. The company cited positive momentum in Southeast Asia, Latin America, and EMEA, despite broader macroeconomic uncertainty.
In April, Payoneer finalized its acquisition of Easylink Payment Co., Ltd., a licensed Chinese payment provider. The move enhances the company’s ability to serve Chinese businesses engaged in global commerce and reinforces its infrastructure in one of the world’s most critical markets.
“We are balancing growth and profitability while strengthening our long-term moat by investing in our payments infrastructure and differentiated capabilities,” Caplan said. “Our strategy is simple: build the financial stack for the next generation of borderless SMBs.”
CFO Bea Ordonez reiterated confidence in the company’s trajectory: “We continue to execute against our long-term vision and strategic roadmap. Our business and the customers we serve are diverse, and our focus during this time is squarely on supporting our customers as they navigate the dynamic environment.”
With a strong start to 2025 and an expanding global footprint, Payoneer is positioning itself as a key enabler for small and mid-sized businesses navigating the evolving landscape of cross-border commerce.
