13% of the trading volume growth was mainly driven by B2B, with a year-on-year increase of 59%.
Shareholders approved the Nuvei merger agreement proposal on September 14, 2026.
New York, November 5 (Reuters/ PR Newswire ) – Payoneer Global Inc (“Payoneer” or “the Company”) (Nasdaq ticker: PAYO) today announced its financial results for the third quarter ending September 30, 2026. Payoneer is a global fintech company that provides support for cross-border businesses.
Financial Highlights of the Third Quarter of 2026
Payoneer CEO John Caplan stated: "The third-quarter results of Payoneer show that our strategy of expanding into new markets is working: B2B transaction volume has accelerated year-over-year to 59%, and ARPU for the ninth consecutive quarter, revenue excluding interest income has grown by more than 20% year-over-year. The proportion of revenue from major customers is also continuing to increase. In addition, we have obtained payment licenses in Canada and Israel, extending our global regulatory infrastructure to more markets to serve our customers."
"We continue to advance our goal of completing the Nuvei transaction by mid-2027. We obtained shareholder approval in September and are currently working on obtaining the necessary regulatory approvals. Our customer relationships and distribution capabilities, regulatory infrastructure, as well as wallet and payment capabilities, complement those of Nuvei highly. After the merger, we will create an end-to-end capital flow infrastructure for the world's largest digital business ecosystem."
John Caplan, Chief Executive Officer
Business Highlights for the Third Quarter of 2026 (unless otherwise specified)
- Revenues excluding interest income amounted to $222 million, representing a year-on-year increase of 5%.
- The trading volume was 25.3 billion US dollars, a year-on-year increase of 13%, reflecting:
- The trading volume of SMB sold on the market platform reached 12.6 billion US dollars, a year-on-year increase of 1%.
- The trading volume of B2B reached $5 billion, a year-on-year increase of 59%, mainly driven by accelerated growth in major regions and continuous expansion of key customers, especially in China and the EMEA region.
- The trading volume of Checkout reached 330 million US dollars, a year-on-year increase of 48%.
- Enterprise payment transactions amounted to $7.4 billion, a year-on-year increase of 14%.
- SMB Customer revenue amounted to 199 million US dollars, a year-on-year increase of 4%, reflecting:
- The revenue from SMB sold on the market platform amounted to 115 million US dollars, a year-on-year decrease of 5%.
- B2B SMB reported revenue of $70 million, a year-on-year increase of 13%.
- Checkout reported revenue of $14 million, a year-on-year increase of 60%.
- ARPU grew by 18%, and ARPU grew by 21% after excluding interest income. This is the 9th consecutive quarter that ARPU has achieved growth of over 20% after excluding interest income.
- As of September 30, 2026, customer funds amounted to $7.5 billion (including both short-term and long-term funds). Customer funds increased by 6% year-on-year, which partially offset the impact of lower interest rates on year-on-year interest income.
- On September 14, 2026, the company obtained the approval of the shareholders for the Nuvei transaction.
- Payoneer continues to strengthen its global regulatory infrastructure by obtaining payment licenses in Canada and Israel.
About Payoneer
Payoneer is a financial platform for cross-border business and global payments. Payoneer provides the necessary financial tools and services to millions of enterprises, helping them to grow and conduct transactions with confidence on a global scale. Payoneer makes it easier for enterprises, especially those in emerging markets, to connect to the global economy, facilitating cross-border payments, managing multi-currency funds, and expanding their businesses.
Forward-looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Except for the historical information contained in this press release, matters discussed in this document are subject to forward-looking statements that involve risks and uncertainties. Such statements are protected under the “safe harbor” provisions of that act. In certain circumstances, you can identify forward-looking statements by the use of words such as “may”, “will”, “shall”, “should”, “expects”, “plans”, “positioning”, “anticipates”, “could”, “intends”, “target”, “projects”, “contemplates”, “believes”, “estimates”, “predicts”, “potential”, or “continue”, or their negative forms, or other similar terms or expressions relating to the company’s expectations, strategies, plans, or intentions. Forward-looking statements include, but are not limited to: statements regarding recent changes in the company’s management and their effects; expectations regarding demand for the company’s products and cash flow generation; improvements and expansions of the company’s products and platforms, as well as the introduction of new products; statements regarding future operating results, including revenue, trading volume, growth opportunities, expense fluctuations, ability to achieve efficiency, future expenditures and incremental investments, business trends, ability to generate profits, and the ability to bring growth and value to shareholders; and assumptions regarding foreign exchange rates.
Forward-looking statements inherently involve various degrees of uncertainty. For example, statements regarding the proposed transaction (the “Transaction”) under the Merger Agreement and Plan signed on June 12, 2026, which was jointly signed by the company, Neon Maple Parent Inc incorporated under Canadian law (“Nuvei”), and Panda Acquisition Sub Inc (“Merger Agreement”), including the expected time for completing such transaction. All such forward-looking statements are based on current plans, estimates, expectations, and objectives, but these are subject to risks, uncertainties, and assumptions, many of which are beyond the company's control and may result in significant differences between actual outcomes and those stated in the forward-looking statements.Key factors that may lead to significant differences in actual results include, but are not limited to: the expected time and likelihood of completion of the transaction, including any required government and regulatory approvals, the timing of such approvals, and their terms and conditions; any events, changes, or other circumstances that may result in the termination of the merger agreement; the risk that parties may not be able to meet the transaction conditions in a timely manner or at all; the risk that the transaction will distract management from their daily business operations; the risk that any announcements related to the transaction may have an adverse effect on the market price of the company's common stock; the risk that the transaction and its announcements may have an adverse impact on the business relationships of all parties and on the overall business, including the company's ability to retain customers, hire and retain key employees, and maintain relationships with suppliers and customers, as well as on its operating results and overall business; the risk of unforeseen or unknown liabilities; the approval and support of customers, shareholders, partners, regulatory authorities, and other stakeholders; the risk of unexpected future capital expenditures; the risk of litigation related to the transaction, which may be brought against the company or its directors and/or senior management; the risk associated with third-party contracts that contain important agreements, restrictions on transfer, or other provisions related to the transaction, and if these provisions are not exempted or not satisfactorily resolved; the risk of various events that may disrupt operations, including severe weather such as droughts, floods, avalanches, and earthquakes, cyber security attacks, wars, security threats, and government responses, as well as technological changes; the risk of labor disputes, changes in labor costs, and labor difficulties; and other risks arising from changes in industry, market, economic, legal or legislative, political, or regulatory conditions that are beyond the company's control.All of these factors are difficult to predict and are beyond the company's control, including the risks that are described in detail in the company's 10-K annual report for the fiscal year ending December 31, 2025 (available at https :// www.sec.gov / Archives / edgar / data /1845815/000110465926020487/ payo-20251231x10k.htm), the 10-Q quarterly reports, as well as other documents subsequently submitted by the company to the U.S. Securities and Exchange Commission (“SEC”) (available at https :// www.sec.gov / edgar / search /#/ ciks =0001845815& entityName = Payoneer %2520Global%2520Inc.%2520( PAYO )%2520( CIK %25200001845815).
The company's forward-looking statements are based on assumptions that it deems reasonable but that may not be accurate. Other unforeseeable or unknown factors not discussed in this document could also have a material adverse effect on these forward-looking statements. Except as required by applicable law, the company assumes no obligation to update any forward-looking statements. These forward-looking statements are only valid as of the date of this publication.
Financial information; non-GAAP financial indicators
Some of the financial information and data in this press release, such as the adjusted EBITDA, are not prepared in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”). Payoneer uses certain non-GAAP indicators to compare its performance with prior periods for budgeting and planning purposes. Payoneer believes that these non-GAAP financial performance indicators can provide management and investors with useful information regarding certain financial and business trends related to the company’s operating results. Payoneer acknowledges that the methods used to determine these non-GAAP indicators may differ from those of other companies; therefore, they may not be directly comparable to similar indicators used by other companies. Payoneer does not recommend relying solely on these non-GAAP indicators to evaluate its financial performance. Payoneer Management does not consider these non-GAAP indicators in isolation, nor does it use them as a substitute for the financial indicators determined in accordance with GAAP. The main limitation of such non-GAAP financial indicators is that they exclude significant expenses and revenues that are required to be recognized in Payoneer financial statements. In addition, these indicators have inherent limitations as they reflect management’s judgments regarding which expenses and revenues should be excluded or included. To compensate for these limitations, management presents the non-GAAP financial indicators alongside the GAAP results. You should refer to Payoneer’s financial statements, which are contained in the 10-K annual report for the fiscal year ending December 31, 2025, and subsequent 10-Q quarterly reports. You should not rely on any single financial indicator alone to evaluate Payoneer’s business.
Non-GAAP indicators include the following items:
After adjustment, EBITDA: We provide the adjusted EBITDA, which is a non-GAAP financial indicator. It refers to the net profit (loss) after excluding the following items based on applicable circumstances: merger and acquisition-related expenses (revenues), equity incentive expenses, restructuring expenses, losses (gains) arising from changes in the fair value of warrants, as well as net gains (losses) from warrant repurchases/redemptions, financial expenses (revenues), income tax, and depreciation and amortization.
After adjustment, EBITDA excluding interest: refers to the adjusted EBITDA after deducting interest income.
Other companies may calculate the aforementioned indicators in different ways, therefore the indicators of Payoneer may not be directly comparable to those of other companies with the same names.
Supplementary information and definitions
In this financial report, the volume (volume of transactions) mentioned by us is an operational indicator. Volume of transactions refers to the total value in US dollars of transactions that are successfully completed or facilitated through our platform, excluding orchestrated transactions. For customers who receive payment upfront and then make subsequent payments, we count the volume of transactions only once. Note: Orchestrated transactions were discontinued in 2024, which are related to our acquisition of optile and GmbH in 2020.
We also mentioned ARPU (average revenue per user), which is defined as the income of active customers divided by the number of active customers during that period. For this purpose, an active customer is defined as a holder of a Payoneer account who has made at least one financial transaction during that period. Active customer income refers to the revenue generated by the use of the Payoneer platform by active customers, including interest income from the remaining balance, but does not include income that is unrelated to their activities.
Investor Contact:
Michelle Wang
investor @ payoneer.com
Media contact:
Angela Sullivan
PR @ payoneer.com
Revenue Split
The following table shows the confirmed revenue from customer contracts as well as revenue from other sources:
The following table shows the company's revenue broken down by major regional markets. The revenue is attributed to the country where the billing address of the trading customer is located (within that region), except for global bank transfer revenue, which is allocated based on the billing address of the source of the transaction funds.
SOURCE Payoneer
