Nuvei will pursue a US$2.75 billion acquisition of Payoneer, combining two payments businesses focused on local and cross-border commerce.
Under the agreement, Nuvei will buy all issued and outstanding common shares of Payoneer Global Inc. for US$7.40 per share in cash.
The combined company is expected to generate about US$3 billion in annual revenue and process more than US$500 billion in annual payment volume.
It is also expected to serve more than 2.4 million customers.
The deal would expand Nuvei’s services for businesses that need to accept, hold and move money across markets.
The combined platform will cover more than 190 countries and territories, with services including payment acceptance, payouts, multi-currency accounts, card issuing, treasury, foreign exchange and embedded financial services.
Payoneer adds cross-border payout capabilities, multi-currency accounts and a banking network that supports same-day and real-time settlement in more than 150 markets.
The platform is expected to support businesses selling through digital commerce platforms such as Amazon, eBay, Walmart, Airbnb, Fiverr, Upwork, Etsy, ByteDance, Shopify and WooCommerce.
Payoneer also has licences and authorisations across several markets. These include licensing for online payment services in mainland China and authorisation in principle as a cross-border payment aggregator in India under the Reserve Bank of India’s framework.
The acquisition would also support newer payment models, including stablecoin payments, agentic commerce and platform-based financial services.
Phil Fayer, Chairman and Chief Executive Officer of Nuvei, said,
“The acquisition of Payoneer marks a defining step in Nuvei’s evolution into a global financial infrastructure leader.
By combining complementary capabilities, we can offer businesses a more complete platform to accept payments, send funds, issue cards, manage treasury and FX needs, and access embedded financial services – at scale.”
John Caplan, Chief Executive Officer of Payoneer, said,
“For two decades, Payoneer has earned the trust of millions of businesses in markets where trust takes years to build.
We have transformed our business with extraordinary results, and our combination with Nuvei will extend what we can offer customers.”
Featured image: Edited by Fintech News Singapore, based on image by smartmalik6384 via Magnific
