On February 17th, Payoneer announced that it has received approval from Chinese regulatory authorities to complete its previously announced acquisition of a licensed Chinese payment service provider.

It is reported that this transaction is expected to be completed in the first half of 2025, but it must meet the usual transaction conditions, including changes in equity. As of now, Payoneer has not publicly disclosed the specific name of the acquired company.

Image source: Payoneer official website

Data shows that Payoneer is a global fintech company founded in 2005, headquartered in New York, USA. It focuses on providing cross-border payment solutions to help businesses and individuals make payments globally. At present, Payoneer serves millions of customers worldwide, with business offices in 35 countries/regions and over 2000 employees worldwide. It supports more than 22 languages and over 70 currencies, providing 24/7 customer support. Payoneer successfully listed on NASDAQ in the United States in 2021.

Payoneer's Q3 2024 financial report shows that the company has achieved accelerated business growth for seven consecutive quarters, with revenue of $248 million, a year-on-year increase of 19%; Net income increased significantly to $41.57 million, and operating income increased to $35.16 million. It is reported that the transaction volume for the quarter reached a record high of 20.4 billion US dollars, a year-on-year increase of 25%, with B2B business growing by 57%.