Payment firm Nuvei to acquire Payoneer for $2.75 billion

Payment technology company Nuvei disclosed its intention to purchase Payoneer. The deal is valued at US$2.75 billion. Payoneer, a U.S.-based payments provider, will become part of Nuvei’s portfolio. The acquisition aims to broaden Nuvei’s global payment capabilities. Financial terms of the transaction were outlined in the announcement. The news was reported by The Canadian Press. Regulators will need to review the merger for approval. The combined entity could compete more aggressively in the fintech market.