NASDAQ: PAYO

Payoneer serves SMBs located in more than 190 countries and territories and operating in a wide variety of industries, and we have nearly 2 million active customers. Customers include goods exporters selling cross-border to consumers and other businesses, services companies exporting their capabilities to international clients, independent professionals, creators, contractors, and business owners capitalizing on the digitization of the workplace and remote work, vacation rental hosts, and businesses working with suppliers and vendors in different countries. Payoneer’s customers sell their goods or services either via marketplaces or directly to other businesses (B2B), and/or to customers via webstores.

Payoneer has built a meaningful brand and efficient go-to-market engine that enables us to drive customer acquisition and growth through a diverse range of channels. We leverage our global partnerships and enterprise relationships, deep local knowledge and sales presence, product- and customer-driven network effects, and organic traffic to our onboarding channels.

Payoneer has delivered strong growth: in the year ended December 31, 2025, our volume and revenue grew by 9% and 8%, respectively, compared to the year ended December 31, 2024. Volume was $87.5 billion and $80.1 billion and revenue was $1,052.8 million and $977.7 million for the years ended December 31, 2025 and 2024, respectively. See “Key Metrics and Non-GAAP Financial Measures” under the Management’s Discussion and Analysis section within this Annual Report on Form 10-K for our definition of volume and other information.

Capturing Opportunity From Strong Global Secular Trends

Payoneer is focused on capturing the opportunity from several powerful secular trends. We believe these trends continue to benefit SMBs who do business across borders and the service providers supporting them, even in the face of potential disruption from changes in global trade policy and other factors.

Digital Commerce is Accelerating

More people and businesses are conducting a greater amount of their activities online than ever before, driving the rapid growth of digital commerce globally. According to the International Trade Administration, global B2B e-commerce volume is expected to reach $36 trillion by 2026, with the strongest growth expected in Asia Pacific, Latin America and the Middle East.

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SMBs That Operate Across Borders Have a Growing Need for Payment and Commerce-Enabling Solutions

The growth of digital commerce has made it easier for SMBs to tap into overseas demand and supply. This is creating a need for new payment and commerce-enabling solutions to support these businesses. At the same time, businesses serving global customers must deal with complex local requirements in each of the markets in which they do business, often need to manage multiple banking relationships globally and face inefficiency and high transactional cost. This is especially true in emerging markets, where despite their digital maturity, many SMBs have access to only the most basic banking and payment services offered by their local financial institutions. Global banking and payment services mostly remain out of reach, forcing emerging market SMBs to seek alternative partners to help them manage their cross-border AR and AP needs.

The Shift Towards a More Global Supply Chain and Outsourced Workforce

Labor shortages, rising wages, increasing costs from persistent inflation, and a general trend towards greater globalization are all driving businesses of all sizes to re-evaluate their workforce and sourcing strategies. Companies are looking across borders, particularly to emerging markets, for talent and leveraging independent professionals and contractors that can provide greater organizational and expense flexibility. Previously, outsourcing was more readily accessible to large corporations. The development of outsourcing platforms and the growth in the number of companies providing managed workforce services has made access to global labor available to SMBs. Businesses are also increasingly diversifying and globalizing their supply chains to access high-quality, lower-cost products and materials, and to strengthen their business resiliency.

Global Regulatory and Compliance Requirements are Constantly Evolving

The provision of cross-border payment services is complex and highly regulated, and ongoing changes in the regulatory landscape mean scale, expertise, and technology enabled processes are critical to success. Traditional financial institutions serving SMBs, and even modern fintech companies often lack experience in emerging markets and lack the ability to manage scaled customer onboarding and a global risk management program. Compliance programs must address global challenges and multiple regulatory frameworks designed to prevent money laundering and terrorist financing. There are few options available to SMBs that provide a comprehensive global solution. We believe this presents a significant competitive differentiator for Payoneer as we have built robust compliance infrastructure, grounded in a “compliance first” approach, and have two decades of experience navigating the challenges associated with cross-border payments, particularly into emerging markets.

Our Key Differentiators

Global SMBs use their Payoneer Account to manage their end-to-end AR and AP payment flows. Sources of AR include large global marketplaces, trading partners, corporate buyers and sellers, other small firms, and their end customers. SMBs use Payoneer to manage their funds in multiple currencies. They can send funds to their local bank accounts, pay for expenses using our card products, make payments through our in-network ecosystem, and pay suppliers, service providers, and workers in multiple currencies. They can also access working capital and other financial services from Payoneer and via third parties.

The power of the Payoneer platform comes from the following pillars:

Technology and Infrastructure

Payoneer delivers technology-based services to our customers through a proprietary technology infrastructure that includes secure application programming interfaces (“APIs”) as well as web and mobile applications. Our platform supports millions of transactions, hundreds of thousands of new applicants monthly, and processes tens of billions of dollars of volume annually. We are continually working to meet more of our target customers’ cross-border financial and operational needs. Our financial stack uses certain proprietary technology, including that which supports our customer-facing systems, back-office systems and risk management and compliance systems. We also rely on a wide range of third-party systems for specialized capabilities, which are integrated into our platform. We make significant and ongoing investments in our cybersecurity infrastructure and processes and are also investing in AI capabilities both to improve customer experience and to increase the efficiency of our operations.

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Trusted Global Brand Supported by Local Teams

Payoneer’s customers are located in more than 190 countries and territories. To effectively serve this global customer base, we have regional sales hubs including in the U.S., Israel, Hong Kong, China, Singapore and India, and customer support hubs, including outsourced service centers, in China, India, Israel, the Philippines, Korea, Poland, Romania and Guatemala. These teams provide around the clock customer care in a wide range of languages across multiple channels, including mobile, online chat, email, phone and via social media. Payoneer also has a large network of customer success managers and customer support staff globally, providing support in a wide range of languages and promoting and supporting customer retention and growth. They enable the Company to build strong, localized relationships with customers and prospects through hosted events, industry gatherings, channel and affiliate partnerships, and direct targeting.

Data Creates Competitive Differentiators and Delivers Value to Customers

Every payment a business accepts or makes also creates an opportunity for us to develop a deeper understanding of their business. Payoneer uses data insights to improve the customer experience, build and market additional features and services which in turn accelerates commercial activity, increases volume, brings more customers into our network, and further strengthens and grows our ecosystem. Payoneer has built machine-learning models leveraging the data that we collect in the ordinary course of our operations and services. These models enable us to make informed predictions to better serve our customers’ needs. For instance, we apply our machine-learning models in key areas such as lifetime value assessment, risk management and working capital underwriting. Utilizing these unique data insights, enables us to offer new products and features, improve engagement and drive growth and improved profitability.

Robust and Scalable Compliance, Risk & Regulatory Infrastructure

We have designed and implemented a comprehensive Anti-Money Laundering/Counter Terrorist Financing (AML/CTF) and Sanctions Program in compliance with the laws of the jurisdictions where Payoneer is regulated. Through our AML/CTF program we manage the compliant onboarding and ongoing monitoring of our customers. Our Know Your Customer (KYC) and Customer Due Diligence (CDD) processes are managed through a proprietary infrastructure and are supported by dedicated teams, combining automated tools and operational processes with regular audits and reviews to test and monitor for compliance. We also have a robust risk management framework designed to effectively address and mitigate risks across our global operations.

We are regulated as a non-bank financial institution in key markets around the world, namely the United States, Europe, the United Kingdom, Hong Kong, Japan, Singapore, China, and Australia, via local subsidiaries. In the United States, we are registered as a Money Service Business and are licensed as a Money Transmitter in all U.S. states in which such licenses are necessary for our business and in the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Payoneer Europe Limited is an Electronic Money Institution authorized by the Central Bank of Ireland covering the European Economic Area (“EEA”) and is an approved Mastercard® issuer. Payoneer Payment Services (UK) Limited is an Electronic Money Institution authorized by the United Kingdom’s Financial Conduct Authority. Payoneer Hong Kong Limited is a licensed Money Services Operator with the Customs and Excise Department in Hong Kong. Payoneer Japan Limited is a Registered Fund Transfer Service Provider with the Kanto Finance Bureau in Japan. Payoneer Singapore Private Limited is licensed by the Monetary Authority of Singapore as a Major Payment Institution. Payoneer Australia Pty Ltd is licensed by the Australian Securities and Investment Commission to deal in non-cash payment products. We also have a regulatory authorization in India, where we act as an Online Payment Gateway Service Provider (“OPGSP”), as approved by the Reserve Bank of India (“RBI”) while Payoneer India Private Limited (“Payoneer India”) received in-principle authorization from the RBI as Payment Aggregator-Cross Border (“PA-CB”), with final authorization pending RBI approval, which is subject to completion of certain customary conditions. Payoneer Payments (Guangdong) Co., Ltd holds a payment business license issued by the People’s Bank of China. Customers receiving regulated financial services are onboarded to and receive terms and conditions from one or more of the regulated entities in our group, depending on the customer’s country of residence or incorporation and the products provided. Each of our regulated entities is obligated to implement compliance programs, protect customer funds and meet other regulatory obligations under the supervision and oversight of the local regulators.

Global Banking and Treasury Infrastructure

Payoneer has invested significantly in building a resilient, global payment infrastructure and treasury management capabilities. We work with close to 100 banks and payment service providers globally and through those partners have access to local clearing systems, allowing us to receive and deliver payments efficiently in the local markets in which our customers operate.

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Key Customer Segments

SMBs Doing Business on Global Marketplaces

Payoneer is a market leader in the global e-commerce and service marketplaces payouts business and enables SMBs from around the world to access the aggregated consumer demand on these marketplaces and get paid as if they were local to where the marketplace sale occurs.

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B2B SMBs

Payoneer also serves SMBs looking to pay, and get paid directly by, other businesses ("B2B SMBs"). We enable SMBs to create and manage invoices, bill their customers in multiple currencies, and support local and global payment methods. We enable SMBs to pay their suppliers, vendors, and contractors in multiple currencies and countries, one by one or in bulk. In addition, we provide global workforce and payroll management services to SMBs to help engage, onboard, pay and manage their international employees and contractors.

SMBs Selling Direct to Consumer

Payoneer supports SMBs selling Direct to Consumer (“DTC”) via our Checkout product, which customers can use to sell directly to consumers around the world via their web store or via an integration into commerce enabling platforms. This extension of our financial stack enables us to serve more of our customers’ needs and increase the value we provide to them.

Payoneer’s Financial Stack

Payoneer is purpose-built for SMBs doing business cross-border and we are able to support a wide range of customers and deliver a growing product and feature set to meet their needs.

The Payoneer Account

The Payoneer Account enables SMBs to receive, manage, and make payments in multiple currencies. Our customers can receive funds from marketplaces, other businesses and customers, trading partners and more. They can accept payments locally in the country where their buyer is located and, often, in the buyer’s local currency. Once the funds are in the SMB’s Payoneer Account, they are available to use as the customer decides, including by withdrawing into a local bank account, paying their suppliers and vendors or converting into different currencies before transferring. Our customers find significant value in the ability to hold and transact in multiple currencies, and to choose how and when they use these funds for their accounts payable needs across the various markets in which they operate.

Billing and AR Services

Payoneer offers our customers the ability to directly invoice and collect funds from their customers and supports multiple global and local payment methods, and to pay their vendors, suppliers, and contractors around the world. Payoneer’s customers can receive payments via credit cards and via local payment methods in the U.S., the UK and other supported markets.

Physical & Virtual Cards

Payoneer customers can use Payoneer physical or virtual cards to use the balances in their Payoneer Account. Our customers use these cards to access their funds through local ATM networks, to make business purchases online and in-store at local businesses and to pay overseas suppliers and vendors.

Payoneer Checkout

Payoneer Checkout enables SMBs in certain jurisdictions to accept payments from customers around the world via their web store or via an integration into commerce enabling platforms. Checkout is another source of AR that SMBs can manage in their Payoneer Account, enabling merchants to unify their business across sales channels and better track all of their global sales activities. In 2025 we announced a new partnership with Stripe to enhance and scale our Checkout offering.

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Working Capital Solutions

Payoneer provides certain SMBs with access to working capital and lines of credit with amounts advanced typically ranging from $500 to $10 million, either directly or through third party lenders. We leverage machine learning models and underwriting processes to effectively manage risk while providing a valuable service to our customers.

Global Workforce Management

We provide a technology platform and services to onboard talent and enable engagement and/or employment of employees and contractors globally, workforce management, payroll processing and management, and contractor management services.

Enterprise Services

Payoneer provides marketplaces and other enterprise clients with services that enable them to pay sellers across the world via a broad set of localized and other payment methods including local bank payments, international wires, payments to Payoneer Accounts, e-wallets and to Payoneer physical and virtual cards.

Our Growth Strategy

Payoneer is solving key customer needs through our differentiated product offering and financial stack strategy and we believe we are well positioned to capture significant growth opportunities from long-term secular trends. We intend to drive continued growth and increasing efficiency by focusing on a few key areas:

Adding Customers Who Fit Our Target Customer Profile

Payoneer has nearly 2 million active customers who have a Payoneer Account and were active over the trailing twelve month period. We are focused on growing the number of customers who fit our target economic and risk profile. In recent years we have increasingly moved upmarket to target larger customers with more complex cross-border financial operations needs, and we aim to increase the number of these types of customers through both continued customer acquisition efforts and improved retention and growth. Our acquisition strategy involves leveraging our efficient go-to-market engine to acquire and engage with more SMBs. Payoneer has three primary acquisition channels: partnerships and other relationships with ecosystem participants such as e-commerce platforms, our direct sales and marketing team, and organic traffic which benefits from our strong brand and network effects. We are also focused on improving our customer retention through initiatives to drive improved service and experience, as well as differentiated pricing models and bundling of products and services.

Platform and Product Investments to Deliver More Value to Customers and Drive Greater Average Revenue Per Customer

Payoneer is making meaningful investments in extending our financial stack to add additional and enhanced financial management capabilities and additional financial services, and in driving greater customer adoption of multiple products and services, to increase the amount of revenue we generate per customer. As part of our platform strategy we are investing in AI capabilities both to improve customer experience, and to increase the efficiency of our operations. We are also investing in stablecoin capabilities to further increase the range of products and capabilities we offer to our customers.

Pursue Strategic M&A and Partnerships

We believe there are many opportunities to deliver additional value to more customers more quickly by supplementing our organic product development with targeted acquisitions and strategic partnerships that add new capabilities or deeper geographic penetration to our platform. We serve a large customer base with complex and broad financial needs. This offers us the opportunity to acquire companies with synergistic product and service offerings. We have built a team that is focused on leading our efforts to identify strategic growth opportunities.

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Seasonality

Given the diverse nature of our customers and their businesses, Payoneer’s revenues experience seasonal fluctuations as a result of consumer and business spending patterns. Historically, we have seen revenues increase in the fourth quarter of every year, primarily as a result of higher e-commerce sales during the holiday season.

Competition

Payoneer operates on a global scale and faces a very broad set of competitors. There are many types of payment providers that offer global payment services including global treasury banks that serve large corporate accounts; small local and regional banks that focus on serving local SMBs; FX companies that focus on serving SMB importers and exporters; global digital payment platforms like PayPal, Ant Group, Airwallex, or Wise; global card networks; Neobanks; SMB-focused B2B payment providers like Bill.com; mass payout service providers that specialize at providing services to enterprises and marketplaces; SMB AP/AR SaaS providers; merchant service providers like Adyen, Braintree and Stripe; and local companies that focus on enabling SMBs in one or more local markets to sell on digital marketplaces globally. For example, in China we face competition from a number of regional payment providers that serve the large greater China region. In some cases, marketplaces provide their own payment capabilities to support payments to sellers. Additionally, we compete with global payroll and human resources companies through our workforce management and employer of record products.

Regulation

Payments Regulation

Various laws and regulations govern the payments industry in the U.S. and globally. Payoneer is licensed in multiple jurisdictions and, via its licensed entities, provides payment services to customers in over 190 countries and territories worldwide. In the U.S., Payoneer Inc. is a Money Services Business registered with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). Payoneer Inc. is a licensed money transmitter under the laws of all U.S. states where such license is necessary for our business, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. These licenses support the full range of Payoneer Account and payment services and among other obligations, subject us to reporting requirements, bonding requirements, certain limitations on the investment of customer funds and inspection by state regulatory agencies.

Outside of the U.S., we provide our payment services to customers through various regulated subsidiaries. The activities of those non-U.S. entities are supervised by the financial regulatory authority in the jurisdictions in which they operate and under which they are licensed to provide services. For example, in Europe we are licensed in Ireland by the Central Bank of Ireland (authorized pursuant to the European Union (“EU”) passporting rules to provide electronic money services and payment services under its license in all countries in the EEA). These regulatory authorities include the People’s Bank of China (“PBOC”) in China, the Australian Securities and Investment Commission in Australia, the Customs and Excise Department in Hong Kong, the Kanto Finance Bureau in Japan, the Monetary Authority of Singapore in Singapore, and the Financial Conduct Authority in the United Kingdom. Payoneer Inc. also acts as OPGSP as approved by the Reserve Bank of India, for the purpose of facilitating cross-border payments for Indian residents. In addition, Payoneer Canada Limited has applied to the Bank of Canada for a payment service provider license; recently, Payoneer India was granted in-principle authorization from the Reserve Bank of India as a Payment Aggregator Cross Border (Inward and Outward transactions); and Payoneer Inc. has applied to the Israel Securities Authority for a payment services provider license. There are numerous other regulatory agencies that have or may assert jurisdiction. The laws and regulations applicable to the payments industry in any given jurisdiction are subject to interpretation and change.

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Numerous laws and regulations govern the payments industry in the U.S. and internationally. Various aspects of our business are, may become, or may be viewed by regulators from time to time as subject, directly or indirectly, to U.S. federal and state and foreign laws and regulations. As a cross-border digital payment platform, our business includes the facilitation, through our network of bank and local payment partners, of the acceptance and/or payout of funds. As such, we are subject to laws, rules, regulations, policies and legal interpretations in the markets in which we operate, including (but not limited to) those governing payment services (including payment processing and settlement services), stored value, cross-border and domestic money transmission, factoring, foreign exchange, anti-money laundering, and counter-terrorist financing. The legal and regulatory requirements applicable to us are extensive, complex, frequently changing, and increasing in number, and may impose overlapping and/or conflicting requirements or obligations. For example, in 2025, we obtained a payment business license in China through the acquisition of PayEco Finance Information Holding Corporation, parent company of Easylink Payment Co. Ltd. (now Payoneer Payments (Guangdong) Co., Ltd), a local licensed entity, in anticipation of the evolving regulatory landscape in China.

We are also subject to laws and regulations that apply to businesses in general, such as those relating to employment, consumer protection, data protection and privacy, worker confidentiality obligations and taxation, as well as to the numerous laws and regulations which govern the workforce management services we provide. As an online business, we are also subject to laws and regulations governing the internet, such as those relating to intellectual property ownership and infringement, trade secrets, the distribution of electronic communications, search engines and internet tracking technologies, and could be affected by potential changes to laws and regulations that affect the growth, popularity or use of the internet, including with respect to net neutrality and taxation on the use of the internet or e-commerce transactions.

Compliance with KYC Requirements

The licensed entities of Payoneer are subject to regulations related to customer identification and verification in the jurisdictions in which they onboard customers. We are committed to preventing the use of our financial products by persons who seek to launder the proceeds of criminal activity, finance terrorism, or conduct other criminal acts. Payoneer makes reasonable efforts appropriate to the circumstances to know and verify its customers and to monitor customer activity.

The KYC program is a critical component of the AML/CTF Program. KYC embodies the concept that, in order to identify what is unusual activity for a customer, one must have established a sufficient understanding of what is usual and expected activity, consistent with the purpose and intended usage of the account relationship. Activity that is outside the norm or inconsistent with an institution’s understanding may be suspicious and require reporting to the appropriate authorities, as necessary.

Payoneer’s KYC program includes: (i) policies and procedures for collecting and verifying information on the identity of customers and their businesses; (ii) policies and procedures for gathering further information about customers to gain a better understanding of the relationship and anticipated transaction activity, including a periodic review of the customer’s account information, if warranted; and (iii) policies and procedures for monitoring customer activity throughout the lifecycle of the relationship.

Our Customer Approval Policy is informed by our AML/CTF Risk Assessment, which determines the level of AML/CTF risk posed to Payoneer by its product offerings, customer base, business geographies, distribution channels, and technologies, as well as the effectiveness of Payoneer’s compliance-related controls, policies, and procedures in mitigating these risks. Such risks stem from applicable legal/regulatory requirements, the nature of Payoneer products/services (including features, customers and geographic reach) and the record of actual performance of the Payoneer AML/CTF compliance program. These risks are mitigated, among other controls, by the KYC controls and requirements outlined in our policies and procedures.

The Customer Approval Policy constitutes an integral part of Payoneer’s AML/CTF program and outlines our responsibilities with respect to applicable KYC requirements as detailed in pertinent US laws, regulations, and statutes, including the Bank Secrecy Act (“BSA”), the USA PATRIOT Act, and in the relevant laws, regulations, and statutes of jurisdictions where Payoneer holds a local license.

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Data Protection & Privacy Regulations

We collect, process, store, share, disclose, transfer, retain and/or use personal information and other data in connection with conducting our business, including for purposes of marketing our services and products via phone, email and text messages and pursuant to applicable requirements we are subject to, to verify the identity of our customers. Consequently, our business is subject globally to a number of complex laws and regulations governing data privacy and security, including with respect to such collection, processing, storage, sharing, disclosure, transfer, retention and use of personal information and other data.

The data privacy and protection laws and regulations to which our business is subject may apply to personal information and data concerning our customers, employees or other third parties who interact with us, and include the California Consumer Privacy Act (as amended by the California Privacy Rights Act, collectively the (“CCPA”)), data breach notification laws in all 50 states in the United States, the Personal Information Protection and Electronic Documents Act, the CAN-SPAM Act, Canada Anti-Spam Law, the Telephone Consumer Protection Act, Section 5(c) of the Federal Trade Commission Act, the European Union’s General Data Protection Regulation (“GDPR”), and other laws, enactments, regulations or orders transposing, implementing, adopting, supplementing or derogating from, the GDPR in each EEA member state, including the Irish Data Protection Act 2018, the United Kingdom retained EU law version of GDPR as defined in the Data Protection Act 2018, and as amended from time to time (UK GDPR), the European e-Privacy Directive currently implemented through national European laws, the Data Security Law of the People's Republic of China, the Personal Information Protection Law of the People's Republic of China, Brazil’s Lei Geral de Proteção de Dados Pessoais, the Australian Privacy Act of 1988, Singapore Personal Data Protection Act 2012, Hong Kong Personal Data (Privacy) Ordinance, Japan’s Act on the Protection of Personal Information, India’s Digital Personal Data Protection Act, 2023, supplemented by the Digital Data Protection Rules 2025, and other data protection or privacy legislation in force from time to time. These laws and their implementing regulations generally restrict certain collection, processing, storage, use and disclosure of personal information, require notice to individuals of privacy practices, and provide individuals with certain rights to prevent use and disclosure of personal information. These laws may also impose requirements for the safeguarding and proper destruction of personal information and may impose obligations to provide notification of security breaches affecting personal information to authorities and individuals impacted by such breaches.

The burdens imposed by these and other laws and regulations that may be enacted, or by new interpretations of existing laws and regulations, may require us, from time to time, to modify our data processing practices, agreements and policies and to incur substantial costs in order to comply with this ever-evolving regulatory landscape. We implement a variety of technical and organizational security measures and other measures to protect the data we process, including data pertaining to our customers, employees, business partners, and other third parties, but despite the measures we put in place, we may be unable to anticipate or prevent unauthorized access to such data.

Additionally, such laws and regulations may be inconsistent across jurisdictions or conflict with other rules. The applicability of these laws and regulations to us, and their scope and interpretation, are often uncertain, particularly with respect to laws and regulations outside the United States. Because the laws and regulations governing payment services and data privacy and security are constantly evolving and striving to keep pace with innovations in technology and media, it is possible that we may need to materially alter the way we conduct some parts of our business activities or we may be prohibited from conducting such activities altogether at some point in the future. For additional information regarding some of the risks relating to data privacy and security, see “Risk Factors - Regulatory Risks Related to Payoneer - Our business is subject to complex and evolving regulations and oversight, in relation to privacy and data protection. Failure to comply with applicable data protection laws and regulations could subject us to significant fines and reputational harm and could materially adversely affect our results of operations.”

Human Capital

Payoneer’s ability to execute its strategy—connecting underserved businesses to the global economy—depends on the strength, engagement, and productivity of our people. As of December 31, 2025, we employed approximately 2,540 individuals (including full-time, part-time, temporary employees and full-time consultants) across 43 locations in 36 countries; approximately 51% of our workforce is based in Israel. We also engage contractors to support specific business needs. We continually evaluate workforce composition, location, and skills to align with business priorities, operating efficiency, and regulatory requirements.

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Our culture is defined by clear principles that guide how we work and serve customers: act as our customer’s partner on the inside; do it, own it; continuously improve; and build each other up. These principles are embedded in leadership expectations, people processes, and day-to-day decision making, supporting accountability, collaboration and professional growth.

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We operate in competitive talent markets and in multiple jurisdictions with evolving regulatory requirements. We manage human capital as a strategic asset focused on four objectives: talent density, organizational excellence, labor productivity, and frictionless employee experiences.

We invest in professional growth through role-based learning, manager enablement and leadership development. Our Top Talent program is a cohort-based, year-long initiative for rising leaders that combines executive coaching, in-person learning, and exposure to senior leadership.

We design compensation programs to be market-aligned and performance-based, balancing base pay, bonus, and equity to recognize impact and support retention. Benefits emphasize health, safety, and well-being, including access to a global employee assistance program, mental health resources, and locally appropriate healthcare and wellness programs. We regularly assess employee experience and simplify core processes (e.g., onboarding, transitions, and self-service support) to reduce friction for employees and managers.

We use surveys and feedback channels to measure engagement, alignment, leadership effectiveness, and decision quality. Insights inform action plans at the enterprise and department level

To evaluate human capital outcomes and inform personnel decisions, we track measures such as voluntary attrition, high-performer retention, quality of hiring, internal mobility, revenue per headcount, labor cost efficiency, and workforce distribution across locations.

Intellectual Property

The protection of our intellectual property rights is an important aspect of our business, and substantially all of our material intellectual property rights are currently developed in-house. We rely on a combination of trade secrets and know-how, trademark and copyright laws, confidentiality agreements, and technical measures to establish, maintain and protect our intellectual property rights and technology, including our brand and platform. We have registered our brand name as a trademark and domain names, in each case, in the United States and a number of other jurisdictions. We do not have any issued patents.

We consider our digital payment platform, which provides payment, financial, merchant, working capital solutions and other services to companies, marketplaces, e-commerce sellers, freelancers, and others, to be our proprietary technology. The development and management of our platform require sophisticated coordination among many specialized employees. We believe that duplication of this coordination by competitors or individuals seeking to copy our platform would be difficult, and to protect our technology and our platform, we implement multiple layers of security.

We also enter into confidentiality and invention assignment agreements with our employees and enter into confidentiality agreements with third parties to control access to, and the use and disclosure of, our confidential information. However, our contractual provisions may not always be effective at preventing unauthorized parties from obtaining our intellectual property rights and proprietary technologies or disclosing our confidential information. Likewise, intellectual property laws, procedures, and restrictions provide only limited protection and any of our intellectual property or proprietary rights may be challenged, invalidated, circumvented, infringed, misappropriated or otherwise violated. For additional information regarding some of the risks relating to our intellectual property rights, see “Risk Factors - Risks Related to Our Business and Industry.”

Available Information

Our website is www.payoneer.com. The information found on, or that can be accessed from or that is hyperlinked to, our website is not part of or incorporated by reference into this Annual Report on Form 10-K. We file or furnish annual, quarterly and current reports, proxy statements and other information with the SEC. You may obtain a copy of any of these reports, free of charge, from the Investors Relations section of our website as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. The SEC maintains an Internet site that also contains these reports at: www.sec.gov. In addition, copies of our annual report will be made available, free of charge, on written request to us.

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