Nuvei, which is backed by private equity firms Advent International and Novacap alongside investor CDPQ, is in advanced discussions to acquire cross-border payments provider Payoneer in a deal valued at around $2.7bn, according to a report by Reuters.
The report cites unnamed people familiar with the matter as highlighting that the transaction, if completed, would combine Nuvei’s merchant acquiring and payments infrastructure with Payoneer’s established global payout network serving freelancers, online sellers and marketplace participants. Sources said the headline consideration includes Payoneer’s cash, implying an enterprise value of approximately $2.3bn.
The talks remain ongoing and no final agreement has been reached, with the structure and timing still subject to change.
A deal would further underscore the growing role of private equity in shaping the payments consolidation cycle, with sponsor-backed platforms increasingly using M&A to scale capabilities in cross-border and business-to-business payments.
Nuvei itself was taken private in a roughly $6.3bn buyout led by Advent International, with Novacap and CDPQ continuing as key investors. Since then, the group has pursued a growth strategy centred on expansion into higher-margin and higher-growth payment verticals.
Payoneer, which has a market capitalisation of about $1.7bn, has built a significant presence in emerging markets, with a large proportion of revenues tied to cross-border flows and customers in Greater China. The company has also expanded relationships with major online marketplaces including Amazon, Walmart and eBay.
The sector has seen increasing M&A activity as payments firms seek scale, broaden geographic reach and diversify away from slower-growing traditional processing revenues.
Both Nuvei and its private equity backers, as well as Payoneer, reportedly declined to comment.
