New York-based online payments firm Payoneer has officially set its footprint in the Philippines with the opening of an office in the country. Payoneer said its decision to open its office in the country was based on the potential of online outsourcing in the Philippines. Payoneer Philippines manager Miguel Warren said a large part of the country’s workforce actually does online outsourcing. The Philippines is listed among the top five countries for online outsourcing comprising 18.6% of the global online workforce. Globally, the online outsourcing industry is forecast to achieve revenues ranging from USD15bn to USD20bn by 2020.
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