Canadian Payments Corporation Novi Acquisition talks are underway Pioneer For $2.7 billion, according to Reuters I mentioned Tuesday (June 9).
The purchase price includes Payoneer cash, meaning the enterprise value is about $2.3 billion, according to the report, which cited unnamed sources who said a deal could be signed within the coming days.
Payoneer, contacted by PYMNTS, declined to comment on the report. Nuvei did not respond to PYMNTS’ request for comment.
The purchase would consolidate Nuvei’s Accept payment The report said the company works with New York-based Payoneer networks to transfer money to suppliers, freelancers and vendors. It will also give Nuvei greater presence in emerging markets and access to large Payoneer customers in the online market, including Amazon, Walmart and eBay.
Payments companies are increasingly looking to expand through mergers and acquisitions, along with exposure to faster-growing sectors such as cross-border and business-to-business payments, as growth in traditional payment processing slows, according to the report.
Last week, the cross-border payments company OpenFX Plans announced for acquires Dutch payments infrastructure company inclusion. The deal provides OpenFX with its first “regulated presence” in the EEA and the UK, as Embed holds licenses in all EEA countries and the UK, the company said.
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“As we continue to pursue our mission of bringing modern financial pathways to the entire world, we are proud to have the Embed team joining us,” OpenFX Founder Prabhakar Reddy He said in a press release dated June 2. “They have built an amazing product that will help grow our capabilities, especially in Europe.”
PYMNTS took a closer look Direction of acquisition In the fintech space in April, after a series of deals before tape, MasterCard, Flutter wave and AirWalex Target areas such as invoices, colonyAnd data and Licensing.
Each of these categories is associated with a “control point within the transaction lifecycle,” while repetition across acquisitions shows that companies are not experimenting, the report said. Instead, they bring together the same set of capabilities to control how transactions are created from start to finish. Payments remain essential, but they are no longer sufficient in and of themselves.
“The pace of acquisitions suggests that companies are moving quickly to secure these capabilities while they remain available,” the report said. “Building them internally will require time and coordination across multiple systems. Acquisitions provide a direct path to integration. The result is a market organized around control of the platform.”
