Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, announced that it has received the regulatory approvals in China required to “complete its previously announced acquisition of a licensed China-based payment service provider.”
The transaction is expected to close in the first half of 2025, “subject to customary closing conditions.”
As covered, Payoneer is the financial technology company empowering the world’s small and medium-sized businesses “to transact, do business, and grow globally.”
Payoneer was founded back in 2005 with the belief “that talent is equally distributed, but opportunity is not.”
The company claim that it is their mission to “enable any entrepreneur and business anywhere to participate and succeed in an increasingly digital global economy.”
Since their founding, they have built a global financial stack “that removes barriers and simplifies cross-border commerce.”
They aim to make it easier for SMBs, particularly in emerging markets, to “connect to the global economy, pay and get paid, manage their funds across multiple currencies, and grow their businesses.”
As covered in August 2025, Payoneer reported its second quarter 2024 financial results and also raised 2024 guidance.
Payoneer reported 22% volume growth accelerates “for a sixth consecutive quarter, reflecting consistent execution.”
Payoneer also reported 40% B2B volume growth “driving continued SMB take rate expansion.”
The firm further revealed that it is expanding into global workforce management services for SMBs with the acquisition of Skuad.
As noted in the update:
“Payoneer is driving accelerating growth across our entire SMB customer business. We delivered a second consecutive quarter of 21% growth in revenue excluding interest income and $7.5 million of certain non-volume fees earned in the prior year period. ”
As reported last year, Payoneer announced new features to “improve the customer experience and help entrepreneurs easily connect with the global economy.”
Oren Ryngler, Payoneer Chief Product Officer, said:
“SMBs trust us and grow with us because we’re constantly evolving to help them in ways that give them more control and flexibility. Our new ‘Add Funds’ feature gives customers more control of their finances by allowing them to add money into their Payoneer accounts directly from their bank accounts, ensuring they always have the necessary funds at their fingertips to make payments globally. Our new updates to Payoneer Checkout help customers accept online payments via their webstores safely and easily, and can contribute to a higher rate of customer conversions. Our commitment to always upleveling the customer experience enables SMBs to scale to new markets and thrive.”