PANews reported on June 15th, citing Bloomberg, that payments company Nuvei Corporation announced it will acquire Payoneer Global Inc. for approximately $2.75 billion. The transaction will integrate the two North American payments companies, bringing their combined annual transaction volume to over $500 billion. Under the agreement, Payoneer shareholders will receive $7.40 in cash per share, representing a premium of approximately 10% over its previous closing price of $6.75.

Both parties stated that the merger will strengthen their presence in cross-border payments, merchant acquiring, and global fund settlement networks, further enhancing their competitiveness in the global digital payment infrastructure sector. Payoneer previously disclosed a partnership with Citibank to implement blockchain-based fund transfers through Citi Token Services, and will also integrate with Bridge to provide its customers with stablecoin sending, receiving, and holding services.