Payoneer taps Indonesia, Mexico with local collection services

Payoneer has expanded its payment platform to include local collection services in Indonesia and Mexico, supporting businesses in these markets.

The company now offers Indonesian rupiah (IDR) and Mexican peso (MXN) receiving accounts, allowing SMEs to receive funds directly from local buyers and marketplaces.

This move aims to facilitate faster and more cost-effective transactions for businesses operating across borders.

Indonesia, Southeast Asia’s largest ecommerce market, accounts for over half of the region’s online business volume, making local collection capabilities significant for SMEs expanding there.

Mexico is also emerging as a key trade corridor, with the new services reducing barriers for global sellers entering the market.

The company plans further expansion in Latin America and Asia Pacific throughout 2026.

🔗 Source: Payoneer

🧠 Food for thought

Implications, context, and why it matters.

Payoneer expands while investors stay cautious

Payoneer is pushing into new markets as investors remain wary. The stock is down 15.1% over 120 days, plus it trades at a low valuation multiple that suggests the market is not counting on future growth 1.
Inside the business, Payoneer reports a higher take rate, meaning it keeps a larger share of each transaction as revenue. That figure often tracks pricing power and room to scale 1.
Payoneer is entering Mexico and Indonesia with cash-flow-funded plans, according to 1. The rollout adds local collection services and local receiving accounts in Indonesian rupiah (IDR) and Mexican peso (MXN). Small and midsize businesses (SMEs) can collect payments from local buyers and marketplaces with less friction. The same analysis pegs Indonesia’s e-commerce market at $61.6 billion by 2029 1.

Cross-border payments keep getting more crowded

The expansion puts Payoneer up against a wide mix of rivals, including Wise and Stripe, plus business-to-business (B2B) platforms such as Airwallex. FXC Intelligence lists Payoneer, Mercado Libre, Stripe, and Wise as key cross-border payments players in 2025 2.
Mexico brings a tough local opponent in Mercado Libre. One analysis says Mercado Libre controls a large share of the local payments ecosystem, which raises the barrier for new entrants 1.
Elsewhere, India-focused fintech platforms are entering the market and claim fees run 50% to 75% below traditional options, based on the cited source. Those claims add more pressure on pricing 3.