Payoneer Reports 9% YoY Revenue Growth in Q3 2025
APAC revenue increased by 21% in the same period.
Financial service company Payoneer has released a financial report on its third quarter performance, which ended on September 30, 2025.
The company continues to benefit from its broad and diverse customer base despite ongoing shifts in the global economy. The Asia-Pacific (APAC) region was a standout growth engine in the third quarter, with revenues reaching approximately $57 million and increasing by 21% year-over-year and outpacing other major regions.
This momentum reflects the continuous rise of digital entrepreneurship in Southeast Asian markets, including the Philippines.
“Payoneer delivered a record revenue quarter, and three consecutive quarters of mid-teens revenue growth ex. interest, demonstrating the strength of our business in the dynamic macro environment,” said Payoneer CEO, John Caplan.
Payoneer’s customer-centric approach has allowed the company to build products that respond to the needs of businesses operating across borders and support them as they scale. This strategy has led to greater adoption of Payoneer’s suite of financial tools, from payments to working capital solutions.
“Our mission is straightforward: remove friction between an entrepreneur’s ambition and their achievement by delivering a financial stack that is secure, easy to use, and built for global commerce,” Kaplan added.
“We are executing against our strategy and have driven over 10 consecutive quarters of year-over-year ARPU (Average Revenue Per User) and SMB (Small and Medium Business) take rate expansion as we move upmarket, increase adoption of multiple products and services, and align our pricing with the value we offer customers.”
SMB customer take rate represents revenue from SMBs that sell on marketplaces, B2B SMBs, and Checkout (previously known as Merchant Services), divided by the associated volume from each respective channel.
Q3 2025 Financial Highlights
Payoneer’s quarterly report highlights the following key points:
Increased revenue
In Q3 2025, Payoneer delivered approximately $271 million in revenue, representing 9% revenue growth year-over-year. This was driven by strong growth with its SMB customers, partially offset by a 9% decline in interest income revenue as lower interest rates year-over-year more than offset strong growth in customer funds
Revenue by region
Asia-Pacific revenue in Q3 2025 was approximately $57 million, an increase of 21% year-over-year
Profitability
Payoneer reports $36 million of operating income and $14 million of net income in Q3 2025.
Total volume
Payoneer generated over $22 billion of total volume in Q3 2025, 9% higher than the prior year. This reflects the following:
- B2B (business to business) volume of $3.1 billion in Q3 2025 – an increase of 11% year-over-year
- SMBs that sell on marketplaces volume of $12.5 billion in Q3 2025 which increased 4% year-over-year
- Checkout (formerly known as Merchant Services) volume of $223 million in Q3 2025 – an increase of 46% year-over-year
- Enterprise payouts volume of approximately $6.5 billion in Q3 2025 which increased 19% year-over-year
Strong market positioning
Payoneer increased its 2025 Guidance on November 5, 2025, reflecting our strong market position, differentiated assets, and confidence in our strategy.
Accelerated shares
Payoneer accelerated share repurchases to $45 million in Q3 2025, at a weighted average price of $6.73, bringing year-to-date repurchases (through 9/30/25) to $94 million.
Payoneer had nearly two million total active customers and 548,000 customers who meet the company’s ideal customer profile (ICP) as of September 30, 2025. Active ICPs are defined as customers with a Payoneer Account that have on average over $500 a month in volume (including intra-network transactions with other Payoneer customers) and were active over the trailing twelve-month period
In the third quarter of 2025, ICPs declined by 2%, reflecting a shift within Payoneer’s ICP portfolio upmarket towards larger customers. Payoneer is moving from casting a wide net to prioritizing quality–defining quality as larger, more complex customers with scale, ambition, and global reach. The company is focusing on industries and countries where it has the strongest product market fit.
In the same period, ARPU excluding interest income grew by 22% year-over-year, representing the fifth consecutive quarter of 20%+ growth. This was driven by a sustained momentum with larger customers, growth in higher take rate B2B, Checkout and Card franchises, and strategic pricing initiatives.
Meanwhile, high levels of customer trust are evidenced by approximately $7.1 billion of customer funds as of September 30, 2025, indicating a 17% increase year-over-year.
The report notes a record spend of $1.6 billion on Payoneer cards in the third quarter of 2025, which denotes a 19% increase year-over-year, driven by higher usage per customer.
Payoneer, a financial platform for cross-border business and global payments, empowers millions of businesses with the financial tools and services they need to grow and transact globally with confidence. The platform makes it easier for SMBs, particularly in emerging markets, to connect to the global economy, pay and get paid across borders, manage their funds across multiple currencies, and grow their businesses.
For more information, visit www.payoneer.com.
