Payoneer Global (PAYO) UBS’s 2025 Global Technology and AI Conference summary

Recent performance and macro trends

• Marketplace volumes remained soft in November, with holiday season impacts yet to be seen.

• Sellers, especially in China and APAC, are adapting to macro and tariff environments by diversifying channels and logistics.

• B2B volumes accelerated, with Q4 expected to grow in the high teens, up from 11% in Q3.

• Strong travel spend contributed to robust payout volumes in the enterprise segment.

• Diverse performance across marketplaces reflects shifting consumer and seller behaviors.

Cross-border B2B and FX strategy

• Over half of surveyed SMBs have global AR/AP needs, and two-thirds operate entities outside their home countries.

• The platform enables SMBs to manage multi-currency payments and accounts through a single interface.

• Customers can hold, convert, and pay in multiple currencies, leveraging local real-time rails.

• FX monetization is driven by transaction type, currency pairs, and product usage.

Card product and monetization

• Card product saw $6B in usage over 12 months, with 19% volume growth in Q3.

• Multi-currency issuance model helps customers avoid unnecessary FX conversions.

• U.S.-issued cards have 30-40% cross-border usage, yielding higher interchange and rewards.

• Card adoption drives take-rate expansion and customer value.