Lahore, November 8th, 2024 – Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, hosted an exclusive event, “Payoneer Checkout VIP Connect” at Izakaya, Karachi, bringing together over 30+ decision-makers from Pakistan’s leading fashion and textile brands to discuss opportunities and challenges for the nation’s fashion exports.
Payoneer’s innovative digital payment solutions took center stage, showcasing how the company empowers businesses to expand globally, effortlessly reach international customers, and seamlessly collect payments from anywhere in the world.
Mohsin Muzzafar, Payoneer’s Country Manager for Pakistan, remarked, “The recent 5.37% growth in Pakistan’s textile exports, reaching US$ 2.92 billion in the last quarter, underscores the enormous potential of our fashion and textile sector on the global stage (Source). This potential is further reflected in Payoneer’s journey, where we’ve seen our e-commerce customer base in the Pakistan market from 2016 to 2023 grow at a CAGR of 60% leading to a 37% CAGR increase in cross-border e-commerce transaction volume on our platform in the country for the same period. Through Payoneer Checkout, we’re committed to supporting this growth by making it easier than ever for Pakistani businesses to sell worldwide and unlock new opportunities.”
*(All Data pertains to Payoneer for the Pakistan Market till December 31st, 2023)
Payoneer is enabling eCommerce SMBs from Pakistan to receive payments from customers worldwide, including those in the United States of America, Switzerland, United Kingdom, Canada, United Arab Emirates, Lithuania, Australia, Cyprus, Sweden, and Japan.
The event’s powerful, knowledge-driven sessions included:
• a fireside chat with Asfandyar Farrukh, Chairman of the Chainstore Association of Pakistan, who spoke on the evolution of Pakistan’s fashion industry in global markets. Farrukh discussed the rise of e-commerce and online fashion exports and associated challenges, as well as the future direction of fashion exports from Pakistan and the impact of emerging global trends. Farrukh’s insights provided attendees with a comprehensive overview of the industry’s current state and its potential for growth in the international marketplace.
• an engaging session led by the Payoneer team on Payoneer Checkout’s capabilities, including streamlining payments within a single account and supporting the growing needs of fashion exporters via a comprehensive solution.
