Payoneer launches new product features for SMB growth

The product upgrades seek to help SMBs worldwide increase payment efficiency and add more flexibility and control.

Payoneer’s new product features for SMB growth

Based on the announcement information, key new features include greater flexibility and control with Add Funds, better experiences with Payoneer Checkout, and increased efficiency when managing payments.

Detailing first the ‘Add Funds’ function, this marks a new development in Payoneer’s capabilities, helping customers better manage their finances, as they can now easily add single-currency funds into their multi-currency Payoneer accounts directly from their local bank accounts. This feature enables greater financial flexibility and control for SMBs to leverage their funds for ordering inventory, purchasing services, or paying contractors via their Payoneer account. As of now, the new capability is live in select countries in Latin America and Europe, with further rollout planned in the future.

Moving onto Payoneer Checkout, the solution empowers SMB merchants to accept payments from global customers shopping for goods and services at their online stores simply and securely. Payoneer Checkout has seen significant growth following its 2022 launch, as SMBs increasingly rely on it to scale their business. Updates include new pre-dispute alerts to help SMB merchants avoid costly chargebacks. What is more, the Native Shopify checkout feature helps merchants provide their customers with a simplified payment experience when shopping at their Shopify store. With this update, the checkout process becomes native, helping remove redirects so that consumers are enabled to pay on the same page within the online store.

Other feature updates support multiple payment requests, providing Payoneer account holders with increased flexibility and helping save them time. Exemplifying this, the press release details that as part of the latest feature release, Payoneer improved bulk payment processing for customer convenience. Batch payment requests can now handle up to 200 requests simultaneously, and batch payments now support sending funds to 500 accounts at once. Furthermore, an upcoming role management feature is set to help distribute workloads by enabling account owners to set up contributor roles for staff.