Payoneer targets local BPOs to expand reach

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CROSS-BORDER payments company Payoneer is targeting to penetrate the fast-growing business process outsourcing (BPO) and online outsourcing industries in the country as it seeks to expand its market reach.

Miguel Warren, regional head of Southeast Asia for Bangladesh, Pakistan and Sri Lanka, said their new service, Payoneer Plus, is specifically tailored to cater to the BPO and online outsourcing sectors.

“In order to continue to support the growth of the BPO and online outsourcing industries, Payoneer designed a program for emerging service providers,” Warren said at a media briefing in Makato City on Thursday.

“It’s a very inclusive service. We want to talk to a lot of businesses because we understand their needs are varied and different. Payoneer Plus is not a one-size fits all [solution], it can be customized to suit the needs of either a solo entrepreneur who has a lot of international clients or a BPO with 150 to 200 employees,” Warren added.

According to Warren, Payoneer has seen that in the provinces, “online professionals have started to hire others to help them get scale in providing more assistance in online tutorial, contemporary writing and other online services. We see them becoming entrepreneurs in their own right and establishing more centers in provincial cities in the country.”

Payoneer currently has around 200,000 local users, but Warren stressed that while the company wants to increase its user base, which mostly consists of freelancers, “what’s also very important is for us to start targeting the larger businesses, which will take a more personalized touch.”

“That’s what our local team has been working on with these businesses. We’re giving a face to the company and we’re enabling personalized service that should make them more comfortable in using our service.”

Warren said the company saw significant growth in its operation in the country a year after they launched a local office. He said Payoneer recorded a 359-percent growth in its monthly payment volumes and a 375-percent growth in the number of active monthly users.

 

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