Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce

WHY THIS MATTERS: In the increasingly fragmented landscape of global commerce, the ability to manage the full lifecycle of a transaction—from initial acceptance to final settlement—has become the ultimate competitive moat. This multi-billion dollar acquisition signals a profound shift: the era of stitching together disparate payment gateways and payout providers is ending. By fusing Nuvei’s robust acceptance capabilities with Payoneer’s deep-rooted regulatory and cross-border infrastructure, this deal creates a unified financial powerhouse capable of handling complex money movement across 150+ markets. For enterprises, the value lies in radically simplifying the technical overhead of global operations. This move reflects a broader trend toward payment orchestration platforms that can handle everything from FX and treasury management to emerging modalities like agentic commerce and stablecoin settlement. It is no longer just about processing payments; it is about providing a comprehensive, always-on architecture for the modern digital economy.

Nuvei and Payoneer (Nasdaq: PAYO) today announced they have entered into a definitive agreement under which Nuvei will acquire Payoneer. Under the terms of the agreement, Nuvei will acquire all of the issued and outstanding shares of common stock of Payoneer Global Inc. for $7.40 per share in cash, representing a total transaction equity value of approximately $2.75 billion.

“The acquisition of Payoneer marks a defining step in Nuvei’s evolution into a global financial infrastructure leader,” said Phil Fayer, Chairman and Chief Executive Officer of Nuvei. “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.”

As commerce becomes more complex across local and cross-border markets, businesses need infrastructure that can support the full transaction lifecycle. This transaction directly addresses that need by combining Nuvei’s leading payment acceptance capabilities with Payoneer’s cross-border payouts, multi-currency accounts and banking network, along with same-day and real-time settlement in more than 150 markets.

Together, the companies create an always-on, unified financial infrastructure built on trusted rails, supporting customers that do business across the world’s leading digital commerce platforms, including Amazon, eBay, Walmart, Airbnb, Fiverr, Upwork, Etsy, ByteDance, Shopify, and WooCommerce.

A key component of this infrastructure is Payoneer’s established regulatory footprint across major jurisdictions around the world. Payoneer holds multiple licenses and authorizations, including licensing for online payment services in mainland China and authorization in principle as a cross-border payment aggregator in India under the Reserve Bank of India’s regulatory framework.

The transaction also strengthens Nuvei’s ability to support emerging financial models, including agentic commerce, stablecoin payments, and platform-native financial services. These capabilities are expected to help businesses move funds more seamlessly across payment types, settlement networks, and jurisdictions.

“For two decades, Payoneer has earned the trust of millions of businesses in markets where trust takes years to build,” said John Caplan, Chief Executive Officer of Payoneer. “We have transformed our business with extraordinary results, and our combination with Nuvei will extend what we can offer customers. Together, we will reach more businesses, in more markets, with a more complete platform.”

Transaction Details

The transaction has been approved by the Boards of Directors at Nuvei and Payoneer.

The transaction is expected to close in mid-2027, subject to approval by Payoneer’s shareholders, receipt of required regulatory approvals, and other customary closing conditions.

Goldman Sachs & Co. LLC is serving as lead financial advisor to Nuvei. Barclays Capital Inc. has also provided financial advice to Nuvei. Simpson Thacher & Bartlett LLP and Stikeman Elliott LLP are serving as legal counsel to Nuvei. Qatalyst Partners is serving as exclusive financial advisor to Payoneer. Davis Polk & Wardwell LLP is serving as legal counsel to Payoneer.

BMO Capital Markets, RBC Capital Markets, Barclays, UBS, and Wells Fargo are providing committed financing in connection with the transaction.

FF NEWS TAKE: This is a clear needle-mover. Combining Payoneer’s established regulatory footprint with Nuvei’s technological agility creates a formidable competitor against traditional banking giants. This isn’t just an acquisition; it’s an infrastructure land grab. The critical question for the industry is how incumbents will react to this increased vertical integration. Moving forward, watch for how quickly they achieve operational synergy and whether this consolidation triggers widespread pricing pressure across the sector.