Canadian payment technology company Nuvei has reached an agreement to acquire cross-border payments firm Payoneer for approximately $2.75 billion in cash, marking one of the biggest consolidation moves in the global payments industry this year.
Under the terms of the deal, Nuvei will pay $7.40 per share for all outstanding Payoneer stock, representing a premium of roughly 44 percent above Payoneer's closing price on June 8. Payoneer currently holds a market capitalisation of about $2.26 billion, according to LSEG data.
Nuvei CEO Phil Fayer said the deal brings together two complementary businesses to create a more complete payments platform for clients operating across multiple markets. The combined company is expected to generate around **$3 billion** in annual revenue and process more than **$500 billion** in annual payment volume once the transaction is completed.
The acquisition positions Nuvei for growth in stablecoin transactions and AI-driven commerce, two rapidly evolving areas of the global payments landscape. It also gives Nuvei direct access to Payoneer's roster of major marketplace clients, including Amazon, Walmart, eBay and Airbnb.
Payoneer enables businesses to send and receive cross-border payments and manage multi-currency transactions, holding payment licences in several major markets. The regulatory footprint Payoneer brings will significantly extend Nuvei's global reach.
The transaction is expected to close in mid-2027, subject to Payoneer shareholder approval and regulatory clearances in relevant jurisdictions. BMO Capital Markets, RBC Capital Markets, Barclays, UBS and Wells Fargo are providing committed financing for the deal. Goldman Sachs is acting as lead financial adviser to Nuvei, with Barclays Capital also advising, while Qatalyst Partners is serving as exclusive financial adviser to Payoneer.
The planned acquisition reflects a broader wave of consolidation sweeping the global payments sector, as companies race to expand into faster-growing segments such as cross-border and business-to-business payments. For Nigerian businesses and freelancers who rely on Payoneer for receiving international payments, the deal could signal changes in fee structures, service offerings, and platform integration in the medium term, depending on how Nuvei integrates Payoneer's operations.
