Payoneer CEO John Caplan joined TheStreet to discuss why the global banking system isn’t set up for small and medium businesses.
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00:00 Talk to me about kind of what 2023 has looked like, given some of the advantages and also
00:04 a lot of the challenges that I imagine a company like yours has had to deal with.
00:06 So it's interesting for us.
00:07 We've had 35% compound annual growth over the last three years.
00:12 Ours is a business, you know, India, big part of the pioneer franchise economy.
00:17 The GDP is going to grow 7% this year.
00:20 Latin America, powering the growth of the economy.
00:23 We've seen north of 25% growth in APAC, LATAM and SEMEA.
00:28 Like our business is strong and getting stronger because we solve sort of an existential problem
00:33 for an entrepreneur.
00:34 You know, in the United States, you can feed your family, send your kids to college from
00:39 Chicago to all the demand you can drive in a day.
00:43 But if you're in most of the world, you actually have to do business abroad, across borders.
00:48 Well, if you do business abroad, the banking system's not set up for you to do that.
00:53 It's great for the Fortune 1000 companies, but the SMBs that really drive the global
00:58 economy, they need companies like Payoneer that are delivering, you know, a great account
01:04 that's mobile with all the AP tools, the Payoneer card, Payoneer working capital, payments within
01:11 our network.
01:12 We really are a financial solution for the emerging economy.
01:15 We've got a lot of viewers that themselves are entrepreneurs.
01:18 They want to get more involved.
01:20 They love learning leadership lessons from people in your position.
01:23 What is, what have those, have there been major aha moments, I wonder, from Alibaba
01:27 to where you sit today?
01:28 So I learned a lot at Alibaba about the global economy.
01:30 I learned about, you know, the pace of innovation.
01:34 I learned about curiosity and courage to drive markets that, you know, emerging market economies
01:40 are mobile and they want great mobile solutions, solutions that feel like consumer applications
01:46 in the West.
01:47 Business applications globally are really simplified to do the core things people need.
01:52 And that's what Payoneer has done.
01:53 [ Silence ]