SalesTechStar Interview with Robert Clarkson, Chief Revenue Officer at Payoneer

Robert Clarkson, Chief Revenue Officer at Payoneer chats about the benefits of online marketplaces and how today’s online sellers should maintain their overall customer experience goals by following local regulatory needs when selling internationally:

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Hi Robert, welcome to this SalesTechStar chat! Tell us more about what it’s like ‘’being CRO’’ at Payoneer?

Thanks for having me, Paroma. I’m thrilled to be part of the Payoneer team, especially as it recently entered a new period of expansion and growth following our entry to the public markets. The company is addressing an exciting, evolving, and massive market. I love having the opportunity to help small businesses around the globe, in both their payments distribution and credit needs. With over 190 countries served, we can help almost every SMB find customers anywhere in the world, and I’m incredibly excited to help contribute to their growth. I also enjoy working with Scott Galit, the company’s CEO, and the rest of the team to help strengthen Payoneer and make the right investments so we can exceed our long-term goals and help customers all over the world succeed in the global digital economy.

We’d love to hear about Payoneer’s recent innovations and offerings and what new capabilities can users be looking forward to through the year?

We’ve had a number of recent developments, including our new working capital offer for Walmart U.S. Marketplace sellers. We also launched Payoneer for Aggregators, a growth program for the e-commerce industry that extends Payoneer’s services to acquisition firms focused on third-party sellers and we’ve announced partnerships with some of world’s largest companies such as eBay, Mastercard, Awin and Coupang.

In 2022, we see many opportunities to accelerate our ability to deliver more value to existing and new customers in more places. We are making investments to build out new product solutions and go-to-market strategies.

We also see many opportunities to accelerate our capabilities through M&A efforts going forward.

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What does it take today for online sellers and online marketplaces to create a differentiated buying experience and boost sales success? 

I think one key to this is partnering with a provider that offers a range of flexible payment options, and most importantly, the ability to collect and make payments globally. The rise of online shopping offers sellers the chance to reach consumers beyond the borders of the region they’re located in. Unfortunately, it also creates a massive amount of regulatory and technical complexity, as today’s customers expect a tailored, localized payment offering and streamlined user experiences. In some markets, offering a digital wallet as a payment method is a must; in others, consumers want to have the option of withdrawing funds directly from their bank account. To differentiate themselves from a growing international competitive set, sellers and marketplaces need to keep their ambitions global, while ensuring their buying experience is local.

Can you share a few thoughts/observations on the growth of the B2B eCommerce market and how newer technologies have been changing the game for both sellers and buyers today?

We’ve recently been seeing the consumerization of the B2B market. Businesses are now expecting the same level of digitization, agility and intuitiveness in the B2B world that has become commonplace in B2C. As a result, technologies and services that offer consumer-grade solutions to businesses have been taking off – think end-to-end ecosystem experiences, BNPL for B2B, and payment orchestration platforms that simplify complicated integrations and optimization processes related to routing and risk management.

What are some of the key trends you envision for this marketplace for 2022?

In 2022, we see the B2B world focusing a lot on speed and flexibility, owing to a market that offers equal parts opportunity and instability. Businesses want to be able to get their funds quickly, in any global currency and in any form that they need to best conduct their business.   Some want the ability to have a virtual card so they can pay for the everyday needs of their business using easily-accessible network rails.  Some want to pay vendors through simple account-to-account payment methods, whether they be external, like ACH or Wire transfers, or internal, like a ledger transaction between account.  Some want to send money to hold in their eWallet or investment account. And other like the safety and security of leaving their money in a USD denominated account, as opposed to being forced to take money in a more volatile local currency.

Timing also plays into choice.The ability to get a Working Capital advance to fund their business, ahead of receivables, is critical to driving a flywheel effect that allows for a much faster growth rate compared to only relying on cash that is readily accessible.

Overall, the ability to get paid when, how and where you want it is becoming an expectation for businesses clients today.

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What are a few martech and salestech predictions for 2022 that you’d like to highlight?

In the past couple years, businesses of all sizes across the world joined the digital commerce ecosystem for the first time. COVID related restrictions have prompted consumers and businesses alike to rely on digital platforms for socializing and shopping. This has resulted in the merging of digital environments, as evident with Facebook and Instagram launching shopping capabilities, and TikTok rolling out marketplaces. We now live in a super-app, omni-channel, omni-device environment, and the marketers who focus on user experience will find themselves rising above competition. Business leaders should be looking for ways to unify content across channels, and to offer more touchpoints from a singular platform.

Some last thoughts and takeaways before we wrap up?

With the incoming proliferation of Web 3.0, the new digital economy will be defined over the next few years. This includes changes to eCommerce business models, payment processes and the role of fintech. This will likely result in further seamless integration between sellers, buyers and fintech players. Businesses that utilise this integration in a positive way, and are customer-centric, agile, data-driven and mobile-first will lead the way.