Payoneer Global Inc., a leading financial technology company, has announced the expansion of its global payment platform with new collection capabilities in Indonesia and enhanced local services in Mexico. This development introduces local receiving accounts in Indonesian Rupiah (IDR) and Mexican Peso (MXN), allowing businesses to transact and receive funds more efficiently from local buyers and ecommerce platforms.
The expansion is particularly significant for small and medium-sized enterprises (SMEs) operating through Singapore, a hub for managing multi-market operations. As Southeast Asia’s largest ecommerce market, Indonesia represents over half of the total online business volume within the ASEAN bloc. Payoneer’s new capabilities enable SMEs to collect funds directly from local marketplaces, offering greater control over foreign exchange management.
In Mexico, the enhanced collection services facilitate quicker activation of revenue corridors as part of broader multi-market strategies. This move reduces friction for global sellers entering the Mexican market and supports shifting international demand. Customers can now collect funds across multiple channels, enabling local collections from major ecommerce marketplaces.
Nagesh Devata, SVP of APAC at Payoneer, stated, “Singapore has long been a gateway for companies expanding beyond their home market — and today that expansion is happening in more directions than ever. By enabling local receiving accounts in Indonesia and Mexico, we’re helping businesses run new corridors ‘through Singapore’ with the speed and confidence of local payments.”
Payoneer plans further expansions in Latin America and the Asia Pacific through 2026, aiming to support the global ambitions of its nearly 2 million customers.
