Payoneer and Tech Mahindra Collaborate to Advance Global Crowdsourcing Payments

Payoneer and Tech Mahindra collaborate to advance global crowdsourcing payments

New York, October 3, 2024 – Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses to transact, do business, and grow globally, has announced its collaboration with Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries. This collaboration aims to optimize payment capabilities for Tech Mahindra’s innovative crowdsourcing platform, Populii, and revolutionize the way businesses engage with the global crowdsourcing industry and manage financial transactions.

The integration of Payoneer with Populii enables gig workers to effortlessly track payments and grants seamless access to multi-currency functionalities. Tech Mahindra’s collaboration with Payoneer streamlines secure and flexible cross-border transactions for all stakeholders involved. The pandemic has reshaped the talent landscape, blurring traditional job boundaries. Enabled by digital platforms, gig work offers specialized skills to businesses and access to a diverse talent pool and standardized outcomes.

Populii leads in crowdsourcing innovation, providing businesses with a seamless, flexible solution forefficient crowdsourcing. With Payoneer integration, Populii users enjoy prompt, accurate international payments post-task, enhancing their platform experience. Payoneer offers a global multi-currency financial platform, supporting up to 11 of the world’s most traded currencies across 190+ countries and territories. It empowers freelancers and businesses to effortlessly receive payments, and expand their international transactions across borders, so they can do business “locally” in international markets regardless of their physical or geographical location.

Gaurav Shisodia, Vice President of India, Payoneer, emphasized the significance of the collaboration, stating, “India’s gig workforce is expected to grow significantly, reaching 23.5 million by 2030, according to a Nasscom Aon report. This collaboration with Tech Mahindra’s Populii aims to simplify global commerce for freelancers, combining Payoneer’s expertise in cross-border transactions with Populii’s technological strengths. Together, we’re enabling companies and gig workers to transact globally with ease, speed, and convenience in international markets.”

Birendra Sen, President – Business Process Services, Tech Mahindra stated, “Populii connects enterprises with gig workers globally to execute AI-driven projects, user studies, and other tasks. With Payoneer’s hassle-free cross-border payment system, the Populii community will get paid as per a set schedule, further solidifying our position as a trusted platform.”

This collaboration between Payoneer and Populii signifies a shared vision to enhance user experience on Populii. Populii’s seamless API integration with Payoneer will provide gig workers with a secure, fast, and flexible cross-border transaction experience, enabling them to operate more efficiently on a global scale.

About Payoneer 

Payoneer is the financial technology company empowering the world’s small and medium-sized businesses to transact, do business, and grow globally. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. It is our mission to enable any entrepreneur and business anywhere to participate and succeed in an increasingly digital global economy. Since our founding, we have built a global financial stack that removes barriers and simplifies cross-border commerce. We make it easier for millions of SMBs, particularly in emerging markets, to connect to the global economy, pay and get paid, manage their funds across multiple currencies, and grow their businesses. For more information, please visit https://www.payoneer.com/.

Forward-Looking Statements

This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Payoneer’s future financial or operating performance. For example, projections of future revenue, transaction cost and adjusted EBITDA are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “plan,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in applicable laws or regulations; (2) the possibility that Payoneer may be adversely affected by geopolitical events and conflicts, such as the current conflict between Israel and Hamas, and other economic, business and/or competitive factors; (3) changes in the assumptions underlying our financial estimates; (4) the outcome of any known and/or unknown legal or regulatory proceedings; and (5) other risks and uncertainties set forth in Payoneer’s Annual Report on Form 10-K for the period ended December 31, 2023 and future reports that Payoneer may file with the SEC from time to time. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Payoneer does not undertake any duty to update these forward-looking statements.

Contacts 

Investor contact 
investor@payoneer.com 

Media contact 
pr@payoneer.com 

About Populii

Populii is a crowdsourcing platform with 11+ years of experience, established to empower enterprises to build high-quality machine learning models using a skilled gig workforce and flexible crowd delivery models. Our approach revolves around three customer-centric principles: advise, acquire, and annotate. These principles enable enterprises to quickly access skilled resources and accelerate product development. Populii provides opportunities for remote gig workers to collaborate with top companies through online projects that require human-in-the-loop services. Our mission is to foster innovation as well as enable enterprises to enhance their products & solutions through advanced and accurate AI algorithms, in collaboration with a global growing community of 200,000+ users.

About Tech Mahindra

Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 147,000+ professionals across 90+ countries helping 1100+ clients, TechM provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative’s Terra Carta Seal, in recognition of actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com/

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For more information on Tech Mahindra, please contact:

Abhilasha Gupta, Head – Global Corporate Communications & Public Affairs, Tech Mahindra

Email: Abhilasha.Gupta@TechMahindra.com ; media.relations@techmahindra.com