Nuvei Looks to Acquire X-Border Payments Firm Payoneer for $2.7 Billion

Canadian payments company Nuvei is in talks to acquire Payoneer for approximately $2.7 billion, Reuters reported Tuesday (June 9).

The purchase price includes Payoneer’s cash, implying an enterprise value of roughly $2.3 billion, according to the report, which cited unnamed sources who said a deal could be signed within the coming days.

Reached by PYMNTS, Payoneer declined to comment on the report. Nuvei did not respond to PYMNTS’ request for comment.

A purchase would meld Nuvei’s payment acceptance business with New York-based Payoneer’s networks for transmitting funds to suppliers, freelancers and sellers, the report said. It would also give Nuvei more of a presence in emerging markets and access to Payoneer’s large online marketplace customers, which include Amazon, Walmart and eBay.

Payments firms are increasingly looking to scale through mergers and acquisitions, along with exposure to faster-growing segments such as cross-border and B2B payments, as growth in traditional payment processing slows, according to the report.

Last week, cross-border payments company OpenFX announced plans to acquire Dutch payments infrastructure firm Embed. The company said the deal offers OpenFX its first “regulated presence” in the European Economic Area and the United Kingdom, as Embed holds licenses in all EEA states and the U.K.

“As we continue to pursue our mission to bring modern financial rails to the entire world, we are proud to be joined by the team at Embed,” OpenFX Founder Prabhakar Reddy said in a June 2 news release. “They have built a spectacular product that will help grow our capabilities, particularly in Europe.”

PYMNTS took a closer look at the acquisition trend in the FinTech space in April, following a series of deals by Stripe, Mastercard, Flutterwave and Airwallex targeting areas like billing, settlement, data and licensing.

Each of these categories connects to a “control point within the transaction lifecycle,” the report said, while the repetition across acquisitions demonstrates that companies are not experimenting. Rather, they’re putting together the same set of capabilities to control how transactions are constructed from beginning to end. Payments remain key, but they are no longer sufficient by themselves.

“The pace of acquisitions suggests that firms are moving quickly to secure these capabilities while they remain available,” the report said. “Building them internally would require time and coordination across multiple systems. Acquisitions provide a direct path to integration. The result is a market that is organizing around platform control.”