Nuvei in advanced talks to acquire Payoneer for $2.7 billion in major cross-border payments push

The race to dominate global payments is entering a new phase.

Canadian fintech company Nuvei is in advanced discussions to acquire cross-border payments provider Payoneer Global in a deal valued at roughly $2.7 billion, according to a Reuters report citing two people familiar with the matter. If completed, the transaction would bring together two payment companies that serve different parts of the global commerce ecosystem at a time when demand for international money movement continues to grow.

“Canadian payments firm Nuvei is in advanced talks to acquire cross-border payments company Payoneer Global (PAYO.O), opens new tab for about $2.7 billion,” Reuters reported, citing two people familiar with the matter.

The sources told Reuters that the proposed purchase price includes Payoneer’s cash holdings, placing the company’s enterprise value at approximately $2.3 billion. A deal could be signed within days, though the talks remain ongoing and there is no guarantee an agreement will be finalized.

The potential acquisition would mark another major move for Montreal-based Nuvei, which has been actively pursuing growth through acquisitions since it was taken private in a roughly $6.3 billion buyout led by Advent International in 2024. Existing investors Novacap and Canadian pension investment manager CDPQ participated in that transaction.

Founded in 2003 by Philip Fayer, Nuvei has grown into one of Canada’s largest fintech companies, offering payment processing, risk management, and payout services to merchants worldwide. The company has pursued an acquisition-driven growth strategy and expanded its presence across North America, Europe, Latin America, and Asia.

Nuvei helps merchants accept and process payments across multiple channels. Payoneer built its business around helping freelancers, online sellers, suppliers, and small businesses receive and send money across borders. Together, the companies would create a broader payments platform spanning merchant acquiring, payouts, business-to-business transactions, and international commerce.

Payments Consolidation Accelerates as Nuvei Pursues $2.7 Billion Payoneer Deal

The deal could give Nuvei deeper access to emerging markets where Payoneer has established a significant customer base. It would open the door to relationships with major online marketplaces that rely on Payoneer’s payment infrastructure, including Amazon, Walmart, and eBay.

The reported negotiations come as payment companies seek new growth opportunities beyond traditional transaction processing. Cross-border payments and business-to-business payment services have become attractive segments for firms seeking higher growth rates and larger transaction volumes.

Payoneer has carved out a niche serving businesses that sell internationally, particularly merchants in emerging markets that export goods and services to customers in North America and Europe. That positioning helped the company build a global footprint, though it has faced headwinds tied to geopolitical tensions and trade uncertainty.

According to company filings, customers in Greater China accounted for 34% of Payoneer’s revenue in 2025. Ongoing tariff disputes and shifting trade policies have created uncertainty for companies that depend heavily on international commerce flows.

Financially, Payoneer generated $1.05 billion in revenue last year, an 8% increase from the previous year. Net income fell 40% to $73.2 million, reflecting lower interest income and higher operating expenses.

The company’s current market capitalization is roughly $1.7 billion, implying that the reported acquisition price would represent a substantial premium over its public market value.

Neither company has publicly confirmed the discussions. Both Advent and Payoneer declined to comment, and Nuvei and CDPQ did not immediately respond to the media’s requests for comment.

If the acquisition moves forward, it would rank among the more significant fintech deals of the year and highlight a broader trend reshaping the payments industry: companies are getting bigger, reaching farther across borders, and competing to become the infrastructure behind global digital commerce.