Payoneer Completes Acquisition of a Licensed China-Based Payment Service Provider

Rhea-AI Summary

Payoneer (NASDAQ: PAYO) has successfully completed its acquisition of Easylink Payment Co., , a licensed China-based payment service provider. This strategic move positions Payoneer as the third foreign payment platform to obtain licensing for providing online payment services in China.

The acquisition strengthens Payoneer's global regulatory infrastructure and enhances its ability to serve Chinese businesses with localized products and services. CEO John Caplan emphasized the company's commitment to supporting diverse Chinese companies in their global business expansion efforts.

Positive

• Obtained strategic payment service license in China
• Became third foreign payment platform licensed in China
• Enhanced regulatory infrastructure in key market
• Expanded capabilities for localized services in China

Negative

• None.

Through its acquisition of Easylink Payment, Payoneer becomes the third foreign payment platform licensed to provide online payment services in China

NEW YORK--(BUSINESS WIRE)-- Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, today announced it has completed its previously announced acquisition of a licensed China-based payment service provider, Easylink Payment Co., Ltd.

“We serve a diverse range of companies in China, allowing them to grow their business globally,” says John Caplan, CEO of Payoneer. “We are honored to be a licensed payment service provider in China. Our acquisition strengthens our global regulatory infrastructure and positions us to better serve those customers with enhanced and localized products and services.”

About Payoneer

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 in 2005 with the belief that talent is equally distributed, but opportunity is not. It is our mission to enable any entrepreneur and business anywhere to participate and succeed in an increasingly digital global economy. Since our founding, we have built a global financial stack that removes barriers and simplifies cross-border commerce. We make it easier for millions of 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.

Forward-Looking Statements

This press release includes, and oral statements made from time to time by representatives of Payoneer, may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Payoneer’s future financial or operating performance. For example, projections of future revenue, transaction cost and adjusted EBITDA are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “plan,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in applicable laws or regulations; (2) the possibility that Payoneer may be adversely affected by geopolitical events and conflicts, such as Israel’s ongoing conflicts in the Middle East, and other economic, business and/or competitive factors, such as trade policies (including tariffs); (3) changes in the assumptions underlying our financial estimates; (4) the outcome of any known and/or unknown legal or regulatory proceedings; and (5) other risks and uncertainties set forth in Payoneer’s Annual Report on Form 10-K for the period ended December 31, 2024 and future reports that Payoneer may file with the SEC from time to time. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Payoneer does not undertake any duty to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250409849596/en/

Investor Contact:

Michelle Wang

investor@payoneer.com

Media Contact:

Angela Sullivan

PR@payoneer.com

Source: Payoneer

FAQ

What company did Payoneer (PAYO) acquire in China?

Payoneer acquired Easylink Payment Co., , a licensed China-based payment service provider.

What significance does the Easylink acquisition have for Payoneer's China operations?

The acquisition makes Payoneer the third foreign payment platform licensed to provide online payment services in China.

How will the Easylink acquisition benefit Payoneer's Chinese customers?

It will enable Payoneer to provide enhanced and localized payment products and services to Chinese businesses.

What is the strategic importance of the Easylink acquisition for Payoneer (PAYO)?

It strengthens Payoneer's global regulatory infrastructure and expands its licensed payment services in the Chinese market.