Payoneer ‘Monitoring’ Tariff Situation Amid Record Volumes

Payoneer is enjoying a boom in its B2B business along with its highest-ever volumes.

The FinTech, which provides payments tools with a focus on small- to medium-sized businesses (SMBs), released fourth-quarter and full-year earnings Thursday (Feb. 27) showing a record annual volume of $80 billion, along with 18% annual revenue growth.

“2024 was a defining year for Payoneer,” CEO John Caplan said in a news release. “We achieved new records for annual volume, revenue and profitability, saw exceptional volume and revenue growth with B2B SMBs , drove increased adoption of our high value products and expanded our financial stack. These achievements are proof of our scalable, increasingly profitable business model, the size of our opportunity and the strength of our execution.”

Among the company’s B2B clients, volumes were up 37% for the quarter and 42% for the full year.

During a question-and-answer portion of the company’s earnings call Thursday, CFO Bea Ordonez was asked about tariffs in the United States on goods and how that might affect Payoneer’s plans for the year.

“There’s obviously a very broad range of potential outcomes,” CFO Bea Ordonez said. “Obviously, the situation is evolving and evolving quite quickly. I think what we would say is consistent with what we’ve said historically. Our business is really diversified.”

That diversification is across geographies, trade routes, goods and services, with 80% of the company’s B2B business in services.

“So, again, [a] very broad range of outcomes, but our business has proven itself to be resilient in the face of similar trade policy sort of challenges historically,” Ordonez said. “So, we’re monitoring closely over the medium to longer term… In most moderate tariff scenarios, which I think is what most observers expect at this point, we don’t expect any material impact to our business…”

The PYMNTS Intelligence report “ The Customer Is Always Right: How SMBs Can Attract and Keep Customers ” found that many SMBs have a positive take on tariffs, with about half seeing them as a way to get consumers to buy domestically.

“They’re also quite confident about finding domestic suppliers ,” PYMNTS CEO Karen Webster wrote earlier this month. “They see tariffs as a way to level the playing field with their larger enterprise competitors with more rigid global supply partners.”

Consumers, however, are worried. The Conference Board ’s February Consumer Confidence Index , released this week, showed consumer confidence at its lowest level since summer 2021.

“References to inflation and prices in general continue to rank high in write-in responses, but the focus shifted towards other topics,” Stephanie Guichard , senior economist, global indicators at The Conference Board, said in a news release. “There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019.