Payoneer Appoints FinTech Vet Bea Ordonez as CFO
Payment technology company Payoneer is preparing to appoint a new CFO.
Bea Ordonez, a two-decade veteran of the FinTech sector, is set to be named the firm’s new chief financial officer, the company said in a press release on Wednesday (Jan 18).
Ordonez was hired Monday (Jan. 16) as Payoneer’s deputy chief financial officer. When current CFO Michael Levine steps down from his role in March, the company’s board is expected to name Ordonez as his replacement, the release said.
“Bea is a proven leader with diverse expertise in the financial technology industry and has experience as a CFO at several publicly traded companies,” said John Caplan, co-CEO of Payoneer. “I am confident she will be an impactful leader as we continue to develop our broader leadership team and execute on our strategic priorities.”
Ordonez joins Paynoneer from Webster Bank, where she served as Chief Innovation Officer. She has also held CFO positions at Sterling National Bank, OTC Markets Group and G-Trade, and served as chief operating officer at Convergex.
Also on Wednesday, Payoneer said it expects to exceed full-year guidance for 2022 and reaffirmed its previous commitment to increase adjusted EBITDA for 2023. The company will release its quarterly and full-year results in February.
PYMNTS has collaborated with Payoneer on a number of studies, including the recent International B2B Payments: A Guide For Entrepreneurs And Digital Businesses.
This study shows that 90% of businesses worldwide qualify as small and medium-sized enterprises (SMEs), representing more than 50% of global employment.
While many of these businesses have deep roots in their local communities, some have increasingly become entrepreneurial on a global scale, launching web-based international ventures.
However, there are some obstacles to these efforts, such as lack of access to the necessary financial services to strengthen their international reach. Just over a quarter of SMEs see the complexity of cross-border payments as hindering their ability to grow, and only 23% of SMEs described their current cross-border payment solutions as “very” or “extremely” satisfactory .
Last week, PYMNTS spoke with Payoneer Senior Vice President, Americas Ya Wen about the growth of the cross-border e-commerce sector, and how its expansion will be aided by platforms that help online merchants trade in new geographies.
“[Consumers] will be more conscious of their wallet, Wen said. “They’re looking for bargains, they’re looking for deals. E-commerce marketplaces will face stronger competition from offline brick-and-mortar retailers, which means they will steer their marketplaces to be more affordable and deal-driven to remain competitive.”
PYMNTS data: Why consumers are trying digital wallets
A PYMNTS study, “New Payments Options: Why Consumers Are Trying Digital Wallets” finds that 52% of US consumers tried a new payment method in 2022, with many choosing to try digital wallets for the first time.
