The figure is more than double the UN Sustainable Development Goal target of 3 percent, translating to losses for small and medium enterprises (SMEs) engaged in global trade.
SMEs face growing financial pressure
In the Philippines, where SMEs employ 63 percent of the workforce, these rising transfer costs threaten to slow growth and weaken competitiveness. Without affordable and transparent financial solutions, SMEs risk losing momentum in driving economic dynamism and resilience.
This is where Payoneer steps in. “More and more SMEs across the region are choosing Payoneer as their trusted partner,” said Nagesh Devata, Payoneer SVP for APAC. “We delivered 16 percent year-on-year revenue growth in Q2 2025, with SMEs driving much of this momentum—reinforcing our role as a partner for cross-border growth.”
Breaking down barriers to global trade
The Bangko Sentral ng Pilipinas (BSP) has acknowledged persistent challenges in cross-border payments—high fees, lack of transparency, and slow processing. These issues can erode profits and disrupt cash flows.
Payoneer addresses these hurdles through its multi-currency receiving accounts, enabling Filipino SMEs to receive international payments as if they were local entities. This solution eliminates costly wire transfers, speeds up transactions, and helps level the playing field for smaller enterprises.
Expanding reach and streamlining operations
“Companies built for global work from the start are positioned to stay ahead,” Devata said. To further support SMEs, Payoneer acquired Skuad in 2024, adding Employer of Record (EOR) capabilities across 160+ countries. This simplifies compliance, payroll, and HR administration for globally expanding firms.
Monique Avila, Payoneer’s head of customer success for APAC, shared that entrepreneurs like Sherwin Alegre of Microsource Inc. have used Payoneer’s platform to scale efficiently across Southeast Asia.
Driving Philippine growth
By simplifying cross-border payments and reducing costs, Payoneer helps strengthen the country’s SME sector—helping local businesses compete globally, foster innovation, and fuel the Philippines’ digital economy. —Ed: Corrie S. Narisma
