Payoneer

What Payoneer does

Payoneer is a publicly traded fintech (NASDAQ: PAYO) founded in 2005 and headquartered in New York that operates a global cross-border payments platform spanning 70 currencies and 190+ countries, serving approximately 5 million customers including individuals, freelancers, SMBs, and large online marketplaces. The platform is anchored by the Payoneer Multi-currency Account (receiving accounts in 70 currencies, payment collection, FX conversion, and local bank withdrawals) and extends through a modular suite including Payoneer Checkout (online payment gateway integrated with Shopify, WooCommerce, Shoplazza and migrating to Stripe infrastructure), the Payoneer Business Mastercard commercial card program, a Workforce Management product offering Employer of Record / Agent of Record / Contractor Management services across 160+ countries, a Capital Advance working-capital product, a tax-form compliance suite (1099/W-9/1042/W-8), and the optile payment orchestration platform acquired in 2019.

The business generates revenue primarily through transaction-based fees on cross-border B2B and B2C payouts, supplemented by interest income on customer balances, interchange and FX margin from the commercial card program, fees on Capital Advance repayments, EOR subscription fees (~$199–$699 per employee per month industry range), and marketplace/API revenue. Distribution is hybrid: self-serve/PLG onboarding via payoneer.com (localized in 17 languages), deep native integrations with Amazon, eBay, Walmart, Airbnb, Upwork, Etsy, Fiverr, Shopify, Booking.com, Wayfair and Sephora that funnel sellers directly into Payoneer accounts, plus an API-first channel (Mass Payout API, Mass Payout & Services API, Checkout API) serving enterprise platforms and an emerging direct enterprise sales motion targeting customers with >$600,000 in annual payment volume. Forward product strategy includes stablecoin settlement (PAYO-USD via Bridge) and a pending US national trust bank charter (PAYO Digital Bank, N.A.).

In FY2025 Payoneer generated $1.053 billion in revenue (+8% YoY including interest income; +14% ex-interest to >$900M) and $146 million in free cash flow while processing approximately $87 billion in total payment volume. Q1 2026 revenue was $261.6 million with B2B volume up 44% YoY; FY2026 ex-interest revenue guidance was raised to $900–$940M. In June 2026, Nuvei agreed to acquire Payoneer for $2.75 billion in cash at $7.40/share (deal expected to close mid-2027), which would end its public-company status and combine it with an Advent International-backed payments processor projected at ~$3 billion combined annual revenue and >$500 billion in annual payment volume.

Name

Payoneer

Legal name

Payoneer Inc.

Website

https://payoneer.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Cross-Border Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)

akta.pro secondary industries

Marketplace & Platform Seller Payouts (FSAMAKAE), Contractor / Freelancer Payments (FSAMAKAC), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Cross-border payments
• Multi-currency accounts
• Marketplace payouts
• Global workforce management
• B2B payment platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Cross-border payment transaction fees: Primary revenue stream generated from cross-border B2B/B2C payouts, marketplace payouts, and account-to-account transfers across 190+ countries and 70 currencies. Underpins both freelancer and SMB fee-based revenue.
2. Interest income on customer balances: Interest earned on customer funds held in Payoneer accounts. Contributed materially in 2024-2025, but is a strategic headwind in 2026 as rate cuts compress take rates; 2026 guidance explicitly separates 'revenue ex. interest' as the cleaner growth metric (raised to $900-940M for FY2026).
3. Working capital advance / Capital Advance: Fees from prequalified working capital advances offered to eligible sellers and freelancers inside the Payoneer platform (Capital Advance, Capital Advance Express, and Grow).
4. Workforce Management / EOR services: Recurring service fees from Employer of Record, Agent of Record, and Contractor Management System offerings across 160+ countries.
5. Commercial card interchange and FX: Interchange and FX margin from the Mastercard commercial card program and from currency conversion between balances in multi-currency accounts.
6. Marketplace payout and tax compliance APIs: Service-based revenue from API integrations (Mass Payout API, Checkout API) used by marketplaces and platforms for collection, payout, and tax-form compliance.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels9 records

Core offering

Payoneer operates a global cross-border payments platform that enables freelancers, small and medium-sized businesses, and online marketplaces to send, receive, and manage money across 70 currencies and 190+ countries. Its core offering centers on multi-currency receiving accounts, mass payout infrastructure, an online checkout gateway, a Mastercard commercial card program, working capital advances, and a global workforce management (EOR/AOR) service that together replace slow wires, fragmented local banking, and FX friction with a single unified platform.

Product overview

Payoneer operates a single unified cross-border financial platform for SMBs, freelancers, and marketplaces, centered on the Payoneer Multi-currency Account and complemented by a portfolio of modular products and acquired capabilities. At its core, the Payoneer Account enables receiving, holding, converting, and paying in 70 currencies across 190+ countries and territories, with the Payoneer Business Card (Commercial Cards) and Payoneer Checkout supporting online payments and global expense management, and the Mass Payouts Platform serving marketplace operators. Built on top of this platform are modular offerings including Workforce Management (Employer of Record, Agent of Record, and Contractor Management System — recently extended through the Boundless acquisition), Working Capital Advance (Capital Advance), Payoneer Tax Form Collection (1099/W-9/1042), and an upcoming Stablecoin Payments product (Coming Soon, with PAYO-USD stablecoin issuance planned under PAYO Digital Bank N.A. pending OCC approval). Developer-facing exposure is delivered through the Mass Payout API, the Mass Payout & Services API, and the Payoneer Checkout API, while the optile payment orchestration platform — acquired in 2019 and launched globally in 2020 — underpins merchant services and the Payoneer for Banks program.

Differentiator

Problem solved

Functional benefit

Brands

• Payoneer Checkout: Online checkout payment solution for SMBs to accept global payments, integrated with platforms like Shopify, WooCommerce, and Shoplazza.
• Payoneer Workforce Management
• Payoneer Capital Advance
• Payoneer Commercial Card
• Stablecoin by Payoneer
• PAYO Digital Bank

Products and services

• Payoneer Multi-currency Account

Quantifiable outcome

• 44% YoY B2B volume growth in Q1 2026
• +6 more outcomes

Named customers22 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration37 records

AI capability8 records

Feature9 records

Partnerships

28 partnerships are on record, tiered flagship, core and minor.

• NuveiflagshipStrategic or Co-development Partner · 15 June 2026Nuvei (Montreal-based payments processor) agreed to acquire Payoneer for $2.75 billion in cash at $7.40 per share, ending Payoneer's five-year tenure as a Nasdaq-listed public company. The combined entity is expected to generate ~$3 billion in annual revenue, process over $500 billion in annual payment volume, and serve 2.4+ million customers across 190+ countries and 150 currencies. Expected to close mid-2027.
• UpworkflagshipStrategic or Co-development Partner · 14 May 2026Payoneer and Upwork extended their 15-year strategic partnership. Payoneer remains the primary wallet and 'Direct to Local Bank' payout partner for Upwork freelancers across Africa, APAC, Europe, LATAM, and Middle East. The renewed agreement includes a new Design Partnership to explore stablecoin-enabled payouts (initially for Latin America and emerging markets) and leverages Upwork's talent pool for Payoneer's SMB clients.
• Amazon Global Selling VietnamcoreGTM or Marketing Partner · 18 March 2026Amazon Global Selling Vietnam and Payoneer formed a collaboration to help Vietnamese sellers manage payments, currency, cash flow, and compliance as cross-border operations scale globally.
• FundParkcoreStrategic or Co-development Partner · 11 March 2026Payoneer and FundPark collaborated to expand AI-driven financing access for Hong Kong-incorporated e-commerce businesses. Approved Payoneer customers can access credit offers of up to USD 10 million with AI-powered assessments and disbursement in as little as 24 hours.
• Bridge (stablecoin infrastructure)flagshipStrategic or Co-development Partner · 17 February 2026Payoneer partnered with Bridge to launch stablecoin capabilities (PAYO-USD), embedding stablecoin settlement into Payoneer's platform beginning Q2 2026 to retain higher-value customers on-platform.
• Boundless (workforce management)coreStrategic or Co-development Partner · 20 January 2026Payoneer acquired Boundless for $13 million (Q4 2025 disclosure) to deepen its workforce management capabilities in Europe — Employer of Record services.
• StripeflagshipStrategic or Co-development Partner · 18 August 2025Payoneer and Stripe partnered to deliver an enhanced online checkout experience for SMBs globally. Payoneer is migrating its checkout infrastructure onto Stripe, which created a ~300 bp near-term growth headwind discussed on Q4 2025 earnings call.
• CiticoreTechnology or Integration · 12 August 2025Payoneer leverages Citi's blockchain technology to enable 24/7 global intracompany money transfers.
• Licensed China-based Payment Service Provider (PSP)flagshipStrategic or Co-development Partner · 9 April 2025Payoneer completed acquisition of a licensed China-based payment service provider in April 2025 (regulatory approval received February 13, 2025), giving Payoneer direct in-country payment infrastructure in China.
• Nequi (Colombia)minorChannel Partner/ Reseller/ Distributor · 1 January 2025Nequi and Payoneer announced their integration to offer more flexibility to global entrepreneurs in Colombia.
• Tech MahindracoreStrategic or Co-development Partner · 3 October 2024Collaboration to advance global crowdsourcing payments, combining Tech Mahindra's services platform with Payoneer's cross-border payout infrastructure.
• EtsycoreStrategic or Co-development Partner · 26 October 2023Payoneer supports Etsy in expanding Etsy Payments into emerging markets, providing payout infrastructure for sellers in regions underserved by traditional banks.
• AirbnbcoreStrategic or Co-development Partner · 19 September 2023Airbnb retained Payoneer as a preferred global payment provider for another three years, enabling hosts in additional countries to receive payments in their local currencies. Original partnership began in 2013.
• Spott (Israeli data platform)coreStrategic or Co-development Partner · 3 August 2023Payoneer acquired Israeli data platform Spott (announced August 3, 2023) to enhance technological capabilities and strengthen its position in the fintech sector by integrating Spott's data processing expertise into Payoneer's infrastructure.
• ANNA (UK business banking)minorOEM/ Whitelabel/ Licensing Partner · 1 January 2023ANNA is one of the named partners in Payoneer for Banks (launched 2020).
• WooCommercecoreTechnology or Integration · 24 October 2022Partnership to simplify checkout for global sellers by making Payoneer Checkout available via a WooCommerce plug-in.
• Naver Z (Zepeto metaverse)minorChannel Partner/ Reseller/ Distributor · 4 August 2022Naver Z chose Payoneer to pay content creators globally for its Zepeto platform.
• EC21 (Korean B2B marketplace)minorChannel Partner/ Reseller/ Distributor · 28 June 2022Partnership to grow Korean SMBs globally through Payoneer's cross-border payout infrastructure.
• FiservcoreStrategic or Co-development Partner · 7 June 2022Collaboration to streamline cross-border payouts for businesses, leveraging Fiserv's banking/payments infrastructure.
• SEAGM (digital goods platform)minorChannel Partner/ Reseller/ Distributor · 1 June 2022SEAGM, a Malaysian digital goods platform, chose Payoneer to enable direct payments to SMBs worldwide.
• ShopifycoreTechnology or Integration · 1 January 2022Payoneer Checkout integrated with Shopify in 2022, enabling merchants on the platform to accept payments globally.
• Alibaba.comminorGTM or Marketing Partner · 1 January 2022Joint forces with Alibaba.com to offer grants to American SMBs to help boost business growth.
• Booking.comminorStrategic or Co-development Partner · 1 January 2020Partnered in 2020 alongside Sephora and Wayfair as a marketplace payout customer.
• WayfairminorStrategic or Co-development Partner · 1 January 2020Partnered in 2020 alongside Booking.com and Sephora as a marketplace payout customer.
• SephoraminorStrategic or Co-development Partner · 1 January 2020Partnered in 2020 alongside Booking.com and Wayfair as a marketplace payout customer.
• JazzCash (Pakistan mobile wallet)minorChannel Partner/ Reseller/ Distributor · 1 January 2020JazzCash is one of the named partners in Payoneer for Banks (launched 2020), enabling payouts into Pakistan's mobile wallet ecosystem.
• optile (payment orchestration)coreStrategic or Co-development Partner · 1 January 2019Payoneer acquired optile in 2019 and globally launched the optile payment orchestration platform in 2020 to expand into merchant services.
• AmazonflagshipStrategic or Co-development Partner · 1 January 2015Selected as Amazon's trusted payment provider; Payoneer integrations power payments for approximately 70% of Amazon sellers globally.

Scale indicators16 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• Wise plc: Wise (formerly TransferWise) is a UK-listed cross-border payments specialist offering multi-currency accounts and low-fee international transfers to consumers, SMBs, and enterprises. It is the most directly comparable pure-play to Payoneer's multi-currency account and B2B cross-border payouts business, competing head-to-head in corridors like USD-GBP, USD-EUR, and emerging-market payouts.
• Stripe: Stripe is the global online payment processor powering internet commerce; it became Payoneer's checkout infrastructure partner in August 2025 (Payoneer Checkout is migrating to Stripe). Stripe directly competes with Payoneer's checkout/API business while simultaneously being a critical infrastructure dependency, making it a unique partner-competitor peer.
• Remitly Global: Remitly is a Nasdaq-listed digital remittances company focused on cross-border money transfers from developed to emerging markets, serving immigrants and SMBs. It overlaps with Payoneer on cross-border payout corridors into LATAM, APAC, and Africa, particularly for individual and SMB senders, but is more retail-remittance focused.
• Airwallex: Airwallex is a Hong Kong-headquartered cross-border payments and multi-currency account platform serving SMBs and enterprises globally, with strong APAC presence. It competes directly with Payoneer in cross-border B2B payments, multi-currency accounts, and marketplace payouts across APAC corridors where Payoneer's China and Hong Kong operations are concentrated.

Broad incumbents

• PayPal Holdings: PayPal is a broad incumbent in global digital payments offering consumer wallets (PayPal, Venmo), merchant processing, and B2B payouts via Xoom and PayPal Pay Later. It overlaps with Payoneer across cross-border SMB payouts, marketplace seller flows, and multi-currency accounts, but operates at much greater scale across consumer and merchant segments.
• Adyen: Adyen is a global payments platform serving enterprise merchants with unified online, point-of-sale, and marketplace payouts across 200+ markets. It competes with Payoneer's optile-driven merchant orchestration and Payoneer Checkout offering for enterprise marketplace and SMB merchants, but focuses on large enterprise rather than SMB.

Emerging players

• dLocal: dLocal is a Nasdaq-listed payments processor focused on emerging markets (LATAM, Africa, APAC), enabling global merchants to accept and disburse payments locally. It directly competes with Payoneer's emerging-market payout and marketplace strategies, especially in LATAM where Payoneer operates from Buenos Aires and partners with Nequi.
• Brex: Brex is a US-based corporate card and spend management platform targeting startups and SMBs, with cross-border capabilities for global teams. It competes with Payoneer's Commercial Card and SMB-focused multi-currency account offering, particularly for tech-forward US-based SMBs that also need international payout capability.
• Bill.com Holdings: Bill.com is a US SMB-focused accounts payable and receivable automation platform with a direct integration into Payoneer (USD receiving account). It is comparable as a partner-adjacent SMB financial infrastructure peer, sharing the SMB target customer with overlapping treasury and payment workflows.
• Mercury: Mercury is a US-based digital business banking platform serving startups and SMBs with multi-currency accounts, ACH/wire transfers, and treasury tools. It is comparable as an SMB-focused fintech with multi-currency and cross-border payment ambitions, though its geographic footprint is more US-centric than Payoneer's 190+ countries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/payoneer
• Facebookfacebook.com/Payoneer
• LinkedInlinkedin.com/company/payoneer

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds15 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Payoneer