Latest news with #Payoneer
Yahoo
13 hours ago
- Business
- Yahoo
Payoneer CEO sees trade bumps as short-term
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. U.S.-led global trade disruption is turbulent in the near-term but represents a long-term tailwind for cross-border payments specialist Payoneer Global as companies adjust and find new trading partners, the company's chief executive contended in an interview this month. President Donald Trump in April introduced a new 125% U.S. tariff on a broad range of goods imported from China, atop a prior 20% duty. That resulted in Chinese leaders imposing a reciprocal tax for U.S. goods. The countries later announced a 90-day pause on the duties, pending negotiations. The bulk of the U.S. tariffs on Chinese goods are delayed until Aug. 12, according to a Trump tariff tracker by law firm Reed Smith LLP, pending talks between the countries. The same month Trump launched his trade war, Payoneer became licensed by China to provide online payment services in China, with its acquisition of Easylink Payment Co. 'The reordering, reshaping, reimagining of global trade plays to Payoneer's strengths,' Payoneer CEO John Caplan said in a June 13 interview, arguing that entrepreneurs operating small and medium-sized businesses adapt rapidly to U.S. trade policy. As a result, he said, exporters' quest to find new markets fuels Payoneer's accounts payable and receivables business. The nearer-term, however, carries 'an air pocket of disruption,' Caplan added. The trade turmoil prompted New York-based Payoneer to withdraw its full-year financial guidance on May 7 citing the 'macroeconomic uncertainty' unleashed by Trump's trade war. 'There are entrepreneurs around the globe who are reacting to shifts of policy, and they are incredibly resilient about finding pools of opportunity for their businesses,' Caplan said. 'People in the West are sourcing goods where they need to find them, and people in the East are diversifying where they sell and where they manufacture. Both of those dynamics end up benefiting Payoneer,' he said. The cross-border payments specialist has 20% of its revenue – about $200 million – tied to China-based companies that sell into the U.S., William Blair analysts Christopher Kennedy and Marc Feldman wrote in a June 5 client note. Another 15% of Payoneer revenue is from China-based firms that sell to countries outside the U.S. Overall, 40% of Payoneer's revenue involves business that 'never touches the United States,' Caplan said. About $50 million of Payoneer's revenue could be affected by tariff-related trade disruptions in the second half of this year, the William Blair analysts said, citing the company. Payoneer says it has two million active customers across 190 countries and that it held about $7 billion in customer funds on which it pays no interest, as of the first quarter this year, according to its quarterly earnings presentation. The company turned profitable last year, and has told investors to expect longer-term earnings margins of at least 25% beyond 2026. Under Caplan, who became CEO in March 2023, Payoneer has sought to move upmarket and do business with larger companies that bring more volume. Still, its focus remains on small and mid-sized businesses, many of them in emerging markets, and how to simplify cross-border payments for companies that may be too small for large financial institutions to service effectively, Caplan said. 'Our business is just about as diversified as you could get,' he said, referencing its breadth across the globe. Shares of the company have declined 35% this year, owing to investor fears over its exposure to customers with businesses that export goods from or into China. The trade turmoil is 'a short-term headwind but an extraordinary long-term tailwind for our firm,' Caplan said at the conference. Recommended Reading Mastercard, PayPal mull stablecoins for B2B payments
Yahoo
10-06-2025
- Business
- Yahoo
FTX and FTX DM Announce Addition of Payoneer as Distribution Service Provider
Payoneer Joins BitGo and Kraken as Third Distribution Service Provider for FTX and Serves as the Second for FTX DM WILMINGTON, Del., June 10, 2025 /PRNewswire/ -- The FTX Recovery Trust (collectively "FTX") and FTX Digital Markets Ltd. ("FTX DM") today announced that each has entered into an agreement with Payoneer, a publicly traded global financial technology company founded in 2005 that provides online money transfer and digital payment services in over 190 countries and territories, to assist in distributing recoveries to retail customers in supported jurisdictions and in accordance with the FTX Chapter 11 Plan of Reorganization confirmed by the United States Bankruptcy Court for the District of Delaware (the "Plan") and with the FTX DM liquidation process before the Commercial Division of The Supreme Court of The Commonwealth of The Bahamas. Payoneer will be available as a distribution service provider to customers for distributions to be processed after May 30, 2025, joining BitGo and Kraken as the FTX's third distribution service provider and serving as FTX DM's second distribution service provider. Customers should be aware that by selecting "Payoneer" and requesting to be onboarded as a Payoneer customer, they are irrevocably electing to forego their right to receive cash distributions (i.e. distributions in the legal tender of the United States of America or the equivalents thereof, such distributions the "Cash Distributions") from FTX and are instead (a) directing FTX to pay, directly to Payoneer, any Cash Distributions to which they otherwise would be entitled to under the Plan and (b) directing Payoneer to then credit their selected bank account with cash (in any applicable currency based on their account selection) in an amount that corresponds to any Cash Distributions to which they would otherwise be entitled under the Plan. Following the distribution, if customers have any questions related to the disbursement of the funds, they should contact customer support at their distribution service provider directly. As a reminder, to be eligible to receive a distribution on a subsequent distribution date, customers and other creditors must complete the following prior to their distribution record date: Login to the FTX Customer Portal ( (applicable to customers). Complete required Know Your Customer ("KYC") verification. Submit the required tax forms. Onboard with either BitGo, Kraken or Payoneer, FTX's distribution service providers. FTX will provide instructions for onboarding with each of the distribution service providers on the existing FTX Customer Portal. For transferred claims, distributions will only be made to the transferee holder of an allowed claim that is processed and reflected on the official register of claims maintained by the Notice and Claims Agent as of future record dates, where the 21-day notice period has lapsed without objection. For more information, please visit: Phishing Advisory Please remain aware of phishing emails that may look like they are from FTX and scam sites from channels that may appear to look like the FTX Customer Portal ( This is another reminder that FTX will never ask you to connect your wallets. Additional Information U.S. Bankruptcy Court filings, including the Plan and other documents related to the Court proceedings, are available at FTX DM will be separately communicating distribution information for customers who have elected to have their claims administered by FTX DM. Advisors The FTX Recovery Trust is represented by Sullivan & Cromwell LLP as legal counsel and is assisted by Alvarez & Marsal North America, LLC as financial advisor, Perella Weinberg Partners LP as investment banker, Quinn Emanuel Urquhart & Sullivan, LLP as special counsel and Landis Rath & Cobb LLP as Delaware counsel. View original content to download multimedia: SOURCE FTX Sign in to access your portfolio
Yahoo
10-06-2025
- Business
- Yahoo
Payoneer Global Announces Partial Adjournment of 2025 Annual Meeting of Stockholders
NEW YORK, June 10, 2025--(BUSINESS WIRE)--Payoneer Global Inc. ("Payoneer" or the "Company") (NASDAQ: PAYO), the global financial technology company powering business growth across borders, today announced that the Company's 2025 Annual Meeting of Stockholders (the "Meeting") was convened on June 10, 2025, at 8:00 a.m. (Eastern Time) and was adjourned with respect to the proposal to begin a process to declassify the board of directors of the Company (identified as Proposal 4 in the Proxy Statement (defined below)) and the proposal that would allow stockholders to amend the Company's bylaws and approve amendments to the Company's certificate of incorporation with a simple majority vote (identified as Proposal 5 in the Proxy Statement). The Company will announce the results concerning the other proposals presented at the Meeting in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission (the "SEC"). The Meeting was adjourned with respect to Proposals 4 and 5 to allow additional time for stockholders to submit proxies on Proposals 4 and 5, which are set forth in the Company's definitive proxy statement filed with the SEC on April 28, 2025 (the "Proxy Statement"). The Meeting will reconvene with respect to Proposals 4 and 5 on June 16, 2025, at 8:30 a.m. (Eastern Time) virtually at The record date for the Meeting remains the same, April 14, 2025. Stockholders of record may attend the virtual webcast meeting on June 16, 2025, 8:30 a.m. (Eastern Time) by logging in to the website above. During the adjournment, the Company will continue to solicit votes from its stockholders regarding Proposals 4 and 5 set forth in the Proxy Statement. Stockholders who have already submitted their proxies to have their shares voted on Proposals 4 and 5 do not need to re-submit proxies. Proxies previously submitted in respect of Proposals 4 and 5 will be voted at the reconvened Meeting. Any proxies submitted in respect of the other proposals contained within the Proxy Statement will not affect the outcome of such proposals, as the polls for such proposals are now closed. Stockholders may use the proxy card that they were originally provided with or vote in the manner as set forth in the Proxy Statement. Stockholders who have questions or require any assistance in submitting their proxies to have their shares voted with respect to Proposals 4 and 5 may contact the Company's proxy solicitor, Sodali & Co., toll-free at (800) 662-5200. Payoneer encourages all stockholders of record that have not yet submitted proxies to submit proxies in favor of Proposals 4 and 5 and to do so promptly. About Payoneer Payoneer is the financial technology company empowering the world's small and medium-sized businesses to transact, do business, and grow globally. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. It is our mission to enable any entrepreneur and business anywhere to participate and succeed in an increasingly digital global economy. Since our founding, we have built a global financial stack that removes barriers and simplifies cross-border commerce. We make it easier for millions of SMBs, particularly in emerging markets, to connect to the global economy, pay and get paid, manage their funds across multiple currencies, and grow their businesses. View source version on Contacts Investor Contact: Michelle Wanginvestor@ Media Contact: Angela SullivanPR@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
10-06-2025
- Business
- Business Wire
Payoneer Global Announces Partial Adjournment of 2025 Annual Meeting of Stockholders
NEW YORK--(BUSINESS WIRE)--Payoneer Global Inc. ('Payoneer' or the 'Company') (NASDAQ: PAYO), the global financial technology company powering business growth across borders, today announced that the Company's 2025 Annual Meeting of Stockholders (the 'Meeting') was convened on June 10, 2025, at 8:00 a.m. (Eastern Time) and was adjourned with respect to the proposal to begin a process to declassify the board of directors of the Company (identified as Proposal 4 in the Proxy Statement (defined below)) and the proposal that would allow stockholders to amend the Company's bylaws and approve amendments to the Company's certificate of incorporation with a simple majority vote (identified as Proposal 5 in the Proxy Statement). The Company will announce the results concerning the other proposals presented at the Meeting in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission (the 'SEC'). The Meeting was adjourned with respect to Proposals 4 and 5 to allow additional time for stockholders to submit proxies on Proposals 4 and 5, which are set forth in the Company's definitive proxy statement filed with the SEC on April 28, 2025 (the 'Proxy Statement'). The Meeting will reconvene with respect to Proposals 4 and 5 on June 16, 2025, at 8:30 a.m. (Eastern Time) virtually at The record date for the Meeting remains the same, April 14, 2025. Stockholders of record may attend the virtual webcast meeting on June 16, 2025, 8:30 a.m. (Eastern Time) by logging in to the website above. During the adjournment, the Company will continue to solicit votes from its stockholders regarding Proposals 4 and 5 set forth in the Proxy Statement. Stockholders who have already submitted their proxies to have their shares voted on Proposals 4 and 5 do not need to re-submit proxies. Proxies previously submitted in respect of Proposals 4 and 5 will be voted at the reconvened Meeting. Any proxies submitted in respect of the other proposals contained within the Proxy Statement will not affect the outcome of such proposals, as the polls for such proposals are now closed. Stockholders may use the proxy card that they were originally provided with or vote in the manner as set forth in the Proxy Statement. Stockholders who have questions or require any assistance in submitting their proxies to have their shares voted with respect to Proposals 4 and 5 may contact the Company's proxy solicitor, Sodali & Co., toll-free at (800) 662-5200. Payoneer encourages all stockholders of record that have not yet submitted proxies to submit proxies in favor of Proposals 4 and 5 and to do so promptly. About Payoneer Payoneer is the financial technology company empowering the world's small and medium-sized businesses to transact, do business, and grow globally. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. It is our mission to enable any entrepreneur and business anywhere to participate and succeed in an increasingly digital global economy. Since our founding, we have built a global financial stack that removes barriers and simplifies cross-border commerce. We make it easier for millions of SMBs, particularly in emerging markets, to connect to the global economy, pay and get paid, manage their funds across multiple currencies, and grow their businesses.
Yahoo
06-06-2025
- Business
- Yahoo
Lucinity Appoints Payoneer CCO and Goldman Sachs MD as Strategic Advisors
REYKJAVIK, Iceland, June 06, 2025 (GLOBE NEWSWIRE) -- Lucinity has expanded its Advisory Council with the appointment of industry leaders Micheal Sheehy, Chief Compliance Officer at Payoneer, and Konstantinos Rizakos, Managing Director of Compliance Engineering at Goldman Sachs. Both bring deep expertise to Lucinity from their experience in managing large compliance and technology programs across global financial institutions. Lucinity helps financial institutions detect and investigate financial crime faster and smarter using AI-powered tools. Its Advisory Council brings together industry leaders to guide the company's international expansion, go-to-market strategy, and customer-driven product innovation. Micheal brings over a decade of leadership across AML/CTF, payments compliance, and regulatory risk management. He has extensive experience leading global FCC/compliance operations in the U.S., Europe, and APAC. At Payoneer and throughout his career, he has built and scaled compliance programs, managed regulatory obligations across highly regulated markets, and implemented advanced RegTech solutions. His hands-on expertise with the U.S. Bank Secrecy Act, various EU AML directives, and multiple APAC regulatory frameworks will be instrumental in guiding Lucinity's strategy to serve clients operating globally. Konstantinos has been a leading figure in compliance technology for over twenty years, having run the Compliance application portfolios at Goldman Sachs, Citigroup, and Morgan Stanley. He has been an advocate of machine learning, workflow automation, and large-scale data platforms, and has driven their adoption in the industry as a whole. In the (new) age of AI, he plays an active role in AI product governance and in steering enterprise platforms, both through committee memberships and by launching an AI product management course at NYU Stern School of Business. Micheal and Konstantinos both bring a rare combination of regulatory expertise and technical depth that will help shape Lucinity's global strategy and platform evolution. Their expertise will help Lucinity deepen its impact: improving investigation efficiency, enhancing team productivity, and reducing the cost and complexity of compliance for financial institutions. "We brought in Micheal and Konstantinos because they've built and run compliance programs at the highest levels. They know what works, what breaks, and what it takes to scale. They understand where compliance is headed, and with their guidance, our product will be moving faster, getting better, and raising the bar for the industry," said Guðmundur Kristjánsson (GK), CEO and Founder of Lucinity. Lucinity's Advisory Council now includes: Ed Wilson - Former Partner at Venable LLP with legal expertise in cross-border financial law Tanya Ziv - Former CCO at Visa Cross-Border Solutions and Former COO at Yapily Frank Lawrence - VP and Head of Global Operations, Legal and Chief Compliance Officer at Facebook Payments John McCarthy - Former AML/Sanctions Officer at Airbnb with law enforcement expertise Micheal Sheehy - Chief Compliance Officer at Payoneer Konstantinos Rizakos - Managing Director of Compliance Engineering at Goldman Sachs As Lucinity continues to scale globally, the addition of Micheal and Konstantinos brings vital real-world insight to further align Lucinity's platform with the goals of global compliance leaders. Contact: Celina Pablo celina@ +354 792 4321
