Payoneer's business-to-business payments jump 59% as Nuvei deal nears

Payoneer, a company that moves money across borders for businesses, said the amount flowing through its business-to-business payments grew 59% from a year earlier, to $5 billion. The figure came in its third-quarter results, released Thursday, Nov. 5. The company is also working toward being bought by Nuvei for $2.75 billion.

What changed

Overall revenue rose 5% from a year earlier, to $222 million. Total payment volume rose 13%, to $25.3 billion. Business-to-business payments were the standout, but they are still a smaller slice than other parts of the company.

• Small and mid-sized businesses selling on marketplaces: up 1% to $12.6 billion
• Enterprise payouts: up 14% to $7.4 billion
• Business-to-business: up 59% to $5 billion
• Checkout: up 48% to $330 million

CEO John Caplan said the results show a push toward larger customers is working. He noted that average revenue per user, not counting interest income, grew more than 20% for a ninth quarter in a row.

New licenses

Payoneer also secured permission to operate in two more countries. In Israel, a payment license lets it help businesses collect funds, hold balances and make payments. In Canada, it registered as a payment service provider, which the company said strengthens its ability to serve Canadian businesses and those looking to expand there.

The Nuvei deal

Nuvei and Payoneer announced the agreement on June 15. Payoneer shareholders approved it in September. The companies still need regulatory approvals, and Caplan said progress is being made. The target for closing is mid-2027.

Caplan said Payoneer's customer relationships, regulatory setup and wallet and payout tools fit well with Nuvei's. The companies say the deal would create a global platform for local and cross-border commerce.

What it means for customers

Anyone who pays or gets paid by overseas clients through Payoneer is relying on a company that is growing and about to change owners. The material does not say whether fees, features or service will change after the deal closes. With a close targeted for mid-2027, those details are not known yet.