Nuvei has entered advanced acquisition talks to buy cross-border payments firm Payoneer Global for approximately USD 2.7 billion.
According to Reuters, the proposed transaction values Payoneer at an enterprise value of around USD 2.3 billion, with the remainder attributable to cash on Payoneer's balance sheet. Sources indicate a deal could be signed within days, though talks remain ongoing and an agreement is not certain.
Nuvei is backed by private equity firms Advent International and Novacap, as well as Canada-based investment group CDPQ. The company was taken private in a buyout led by Advent in 2024, in a transaction valued at approximately USD 6.3 billion.
Strategic rationale and market context
A combination of the two companies would bring together Nuvei's merchant payment acceptance infrastructure with Payoneer's cross-border disbursement network, which serves freelancers, suppliers, and marketplace sellers. The deal would also expand Nuvei's footprint in emerging markets, where Payoneer has built a significant customer base, and provide access to Payoneer's relationships with major online marketplace operators, including Amazon, Walmart, and eBay.
In addition, the proposed acquisition fits a broader pattern in the payments industry, where consolidation has accelerated as firms seek scale and exposure to higher-growth segments such as cross-border payments and B2B transactions, in response to slower growth in traditional payment processing.
Payoneer: financial profile and headwinds
Payoneer has faced uncertainty linked to US tariff policy and trade tensions, particularly given its exposure to China. Customers in greater China represented 34% of its revenue in 2025, according to company filings, making it susceptible to disruptions in cross-border trade flows between China and Western markets.
Nuvei, for its part, has pursued an acquisition-led growth strategy since its 2024 privatisation, using its existing infrastructure in payment processing, risk management, and payout solutions as a platform for expansion.
