As the Philippines emerges as a vibrant hub for global talent and entrepreneurship, its burgeoning community of freelancers and small-to-medium-sized businesses (SMBs) is setting their sights on international expansion.
However, outdated financial systems and the complexities of cross-border payments often present significant hurdles, hindering their growth potential. Payoneer, a leading global payment platform, is addressing these challenges head-on by providing transparent, flexible, and user-friendly payment solutions specifically tailored to the needs of global-first Filipino businesses.
The demand for Filipino talent, goods, and services is on the rise worldwide. According to Payoneer’s recent SMB Ambitions Barometer, a remarkable 50% of Filipino SMBs identify reaching new customers as the primary driver for going global. This ambition is further fueled by the potential for improved innovation (62%), stronger supply chains (57%), and enhanced financial performance (54%).
However, this global aspiration is often met with the practical realities of managing international finances. Traditional payment methods can be plagued by delays, hidden fees, and a lack of transparency, eroding the hard-earned revenue of Filipino entrepreneurs. Payoneer recognizes these pain points and offers a robust platform designed to simplify and streamline the entire international payment process.
“We understand the immense potential and drive of Filipino freelancers and SMBs to succeed on the global stage,” says a Payoneer spokesperson. “Our platform is built to remove the complexities and costs associated with international payments, allowing these businesses to focus on what they do best – delivering exceptional value to their clients worldwide.”
As of February 2025, a significant 28.2% of the Filipino workforce is self-employed, a figure that Payoneer’s data indicates is on an upward trajectory. To capitalize on this growth, Payoneer provides essential tools that empower these digital-first businesses to scale internationally with ease and efficiency.
A good global payment platform is characterized by several key features, all of which are central to Payoneer’s offering:
- Transparent Fees: Payoneer ensures users have a clear understanding of all transaction costs upfront, eliminating unexpected charges.
- Multi-Currency Receiving Accounts: Businesses can receive payments in various international currencies as if they had a local bank account, simplifying transactions with overseas clients.
- Simple Setup and User-Friendly Tools: Payoneer’s intuitive platform makes it easy for businesses of all sizes to manage their international payments efficiently.
- Simplified Compliance: The platform incorporates features that help businesses navigate the complexities of international financial regulations.
- Support for Multiple Clients and Platforms: Payoneer caters to the diverse needs of freelancers and SMBs, supporting payments from various clients, online marketplaces, and regions.
By offering these crucial features, Payoneer is not just a payment platform; it is a growth partner for Filipino freelancers and SMBs. It empowers them to overcome financial barriers, expand their global reach, and thrive in the international marketplace.
