Payoneer Global Inc

payoneer.com

What Do They Do?

Provides cross-border payment accounts and financial services that help small and medium-sized businesses receive, manage and send money across currencies and countries.

How Do They Make Money?

Payoneer mainly earns transaction and card fees when customers use account funds to pay, make purchases or withdraw money; it also earns fees when some B2B and direct-to-consumer customers receive payments, plus interest on customer balances.

FY2025 revenue

Who Are Their Customers?

Small and medium-sized businesses, including marketplace sellers, exporters, service firms and online stores, use Payoneer to receive and send cross-border payments. They reach customers through marketplaces, their own webstores or direct business relationships; marketplace partners, enterprise clients and direct sales channels also connect businesses to Payoneer.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 20 cents into free cash flow.

Operating income, FY2025

12% of revenue

▼ −16% vs FY2024 ($149M, 15%)

Net income, FY2025

7% of revenue

▼ −40% vs FY2024 ($121.2M, 12%)

Free cash flow, FY2025

20% of revenue

▲ +22% vs FY2024 ($168.7M, 17%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +5%; vs $260.6M in Q2 FY2025
Net income: ▼ Now a loss; vs $19.5M in Q2 FY2025

Sep 8, 2026 Payoneer agreed to be acquired by Nuvei The planned merger would make Payoneer a wholly owned Nuvei subsidiary, subject to shareholder and regulatory approvals.
Jun 15, 2026 Nuvei agreed to acquire Payoneer The agreement provides for $7.40 in cash per share; closing is expected in mid-2027, subject to approvals and other conditions.

Growing. Revenue grew 2.2x in 4 years, from $473.4M in FY2021 to $1.1B in FY2025, about 22% a year.

Who Do They Compete With?

Competes with PayPal, Ant Group, Airwallex, Wise, Bill.com, Adyen, Braintree, and Stripe

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