# Payoneer's B2B volume jumps 59% to $5 billion as Nuvei deal heads toward a mid-2027 close

By MarketScale Newsroom · Published 2026-11-05 · Business Services on MarketScale
Canonical: https://www.marketscale.com/industries/business-services/payoneer-b2b-volume-59-percent-q3-2026-nuvei

> Payoneer's third-quarter B2B payment volume rose 59% year over year to $5 billion, led by larger customers in China and EMEA, as it works toward closing its acquisition by Nuvei.

## Key points

- B2B volume rose 59% to $5 billion; total volume rose 13% to $25.3 billion.
- Revenue rose 2% to $276.9 million and net income rose 6% to $14.9 million; StockStory reported revenue below the roughly $285 million consensus.
- Payoneer added payment licenses in Canada and Israel and is targeting a mid-2027 close of its acquisition by Nuvei.

Payoneer's B2B payment volume rose 59% year over year to $5 billion in the third quarter of 2026, the cross-border payments company reported on November 5. Payoneer said the growth came from accelerating volume across all major regions and continued momentum with larger customers, particularly in China and EMEA.

The results are Payoneer's latest as a standalone public company while it works toward its acquisition by Nuvei. Nuvei agreed in June to buy Payoneer for $2.75 billion, PYMNTS reported. Payoneer stockholders approved the merger on September 14, and the company said it is targeting a mid-2027 close and making progress on the required regulatory approvals.

> Payoneer's Q3 results show our upmarket strategy is working: B2B volume growth accelerated to 59% year-over-year, ARPU ex. interest expanded 20%+ year-over-year for a 9th consecutive quarter, and the percentage of our revenue from larger customers continues to grow. — John Caplan, CEO, Payoneer

## Where the volume came from

Total volume across Payoneer's platform rose 13% to $25.3 billion. Within that, volume from small and midsize businesses that sell on marketplaces rose 1% to $12.6 billion, enterprise payouts rose 14% to $7.4 billion, and Checkout volume rose 48% to $330 million.

On the revenue side, B2B SMB revenue rose 13% to $70 million and Checkout revenue rose 60% to $14 million. Revenue from SMBs that sell on marketplaces fell 5% to $115 million. Average revenue per user rose 18% to $555, and 21% excluding interest income, which the company said was the ninth straight quarter of 20%-plus growth on that measure.

## Revenue and profit

Total revenue rose 2% to $276.9 million. Revenue excluding interest income rose 5% to $222.2 million, while interest income on customer balances fell 8% to $54.7 million as interest rates came down. Customer funds grew 6% to $7.5 billion, which Payoneer said partly offset the lower rates.

Net income rose 6% to $14.9 million, or $0.04 per diluted share. Adjusted EBITDA was $68.3 million, down 4%. StockStory reported that revenue came in below the analyst consensus of about $285 million and that earnings per share were $0.01 below consensus.

The quarter's expenses included $2.7 million of third-party M&A costs, which Payoneer said include costs related to the pending Nuvei acquisition.

## New licenses in Canada and Israel

Payoneer added payment licenses in Canada and Israel during the quarter. According to PYMNTS, the Israel license lets Payoneer help businesses collect funds, hold balances and make payments in Israel, and the Canadian registration as a payment service provider is meant to serve Canadian businesses and companies expanding into Canada.

## What it means for businesses that pay across borders

For finance teams that use Payoneer to pay suppliers or collect from overseas buyers, the quarter shows the company leaning further into larger B2B customers. Caplan said Payoneer's customer relationships, regulatory infrastructure, and wallet and payout capabilities complement Nuvei's, and that together the companies plan to build end-to-end money movement infrastructure for large digital commerce ecosystems.

## Sources

- [Payoneer Reports Third Quarter 2026 Financial Results](https://www.prnewswire.com/news-releases/payoneer-reports-third-quarter-2026-financial-results-302929805.html) (Payoneer)
- [Payoneer B2B Volume Surges 59% Ahead of Nuvei Acquisition](https://www.pymnts.com/earnings/2026/payoneer-b2b-volume-surges-59-ahead-of-nuvei-acquisition/) (PYMNTS)
- [Payoneer (NASDAQ:PAYO) misses Q3 2026 sales expectations](https://www.tradingview.com/news/stockstory:476198d5f094b:0-payoneer-nasdaq-payo-misses-q3-2026-sales-expectations/) (StockStory)

Tags: Payoneer, Nuvei, B2B Payments, Cross-Border Payments, Fintech, Earnings

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