Report: Canadian Company in Advanced Talks to Buy Payoneer for About $2.7 Billion

According to a Reuters report, the parties could sign an agreement in the coming days. The deal is expected to connect Nuvei's payment processing operations with Payoneer's money transfer systems. Payoneer employs about 1,000 people in Israel.

Payoneer told mako: "We do not respond to speculation, and we routinely evaluate opportunities that may create value for shareholders."

According to Reuters, Canadian payments company Nuvei is in advanced talks to acquire fintech company Payoneer in a deal valued at about $2.7 billion. The report said the price includes Payoneer's cash reserves, meaning the value of the business itself is estimated at about $2.3 billion. The sources said the parties could sign the deal within days, but stressed that talks are still ongoing and may not lead to a final agreement.

Such a deal would connect Nuvei's payment processing operations with Payoneer's money transfer systems, which are used by suppliers, freelancers and sellers around the world. It is also expected to strengthen Nuvei's presence in emerging markets, where Payoneer has a significant customer base, and expand its access to major e-commerce clients, including Amazon, Walmart and eBay.

The payments sector has seen a wave of mergers and acquisitions in recent years, as companies seek to scale up and gain exposure to faster-growing areas such as cross-border payments and business-to-business payments. Payoneer was founded in 2005 by Yuval Tal. Headquartered in New York, it is estimated to employ about 2,500 people, including about 1,000 workers at its development center in Israel, and its market value currently stands at about $1.7 billion. The company reported revenue of $1.05 billion in 2024, an 8% increase from the previous year. However, its net profit fell 40% to $73.2 million, due in part to lower interest income and higher operating expenses.

In a response to mako, Payoneer said: "We do not respond to speculation published in the media. We continue to see significant growth potential ahead of us. Against the backdrop of the changes and shifts currently taking place in the fintech and payments sectors, it is only natural that there is growing interest from strategic buyers and financial investors looking for companies with unique assets and capabilities in the industry.

"Together with the company board, we continuously examine opportunities that may create value for shareholders, and always act responsibly and prudently for the benefit of the company's shareholders."