Global payment solutions provider Payoneer sees growing trade outside the United States amid Trump's tariffs after small and medium businesses (SMBs) posted a revenue growth of 18 percent in the first quarter.

"Global trade is rapidly evolving. Approximately 40 percent of our revenue comes from helping customers sell into non-US markets," said Payoneer chief executive officer John Caplan.

In the Philippines, Payoneer said over 28 percent of Filipinos have become self-employed, building their own small businesses or doing freelance work for global clients.

Payoneer added that half of Filipino SMBs plan to export goods as 62 percent of this group said exporting could force them to innovate products while over 50 percent see better supply chains and higher revenues.

Caplan said the Payoneer team has recorded substantial revenue increases among SMBs in Southeast Asia, Latin America, Europe, the Middle East and Africa.

Payoneer reported SMBs grew their revenues to $170 million by 18 percent in the first quarter this year compared to the same period in 2024.

The growth was driven by SMBs' revenues from online selling to individual customers, which rose by 8 percent to $110 million.

At the same time, business-to-business transactions among SMBs surged by 37 percent to $52 million.

Payoneer said these figures resulted in a total non-interest revenue growth of 16 percent and an average revenue per user growth of 22 percent.

Complex needs of global

SMBs and entrepreneurs

"We remain confident in our long-term thesis, that is, serving the complex needs of global SMBs and entrepreneurs by providing a comprehensive and differentiated financial stack that enables them to achieve their cross-border ambitions," said Payoneer chief financial officer Bea Ordonez.

The aforementioned figures were recorded after US President Donald Trump promised to aggressively impose tariffs on US imports, especially those from China, during his inauguration last 20 January.

However, Payoneer, which is listed on the New York City-based Nasdaq, reported share repurchases slowed to $17 million from $51 million year-on-year, while the average share price also declined from $9.04 to $4.84.

"Our business and the customers we serve are diverse and our focus during this time is squarely on supporting our customers as they navigate the dynamic environment," Ordonez said.

"Some customers may benefit from potential shifts in global trade and supply chains and we are focused on ensuring we and our customers are well positioned to capture potential new opportunities," she added.

Easylink Payment Co.

To achieve this goal, Payoneer acquired the China-based payment service provider Easylink Payment Co. last month.

"The acquisition strengthens Payoneer’s global regulatory infrastructure and positions the company to better serve its local customers in China as they export globally," Payoneer said in a recent statement.

China's economy grew by 5.4 percent in the first quarter, surpassing the 5.1 percent forecast by analysts surveyed by Reuters.

Analysts attributed the better figure to the country's robust industrial sector and improving household consumption.

The World Trade Organization said it projects Chinese exports to the US this year to fall by 77 percent as local firms strive to minimize profit losses from US tariffs.