Payoneer Reports 9% YoY Revenue Growth in Q3 2025 as APAC Revenue Surges 21%
Payoneer Global Inc. (“Payoneer” or the “Company”) (NASDAQ: PAYO), the global financial technology company powering business growth across borders, today reported financial results for its third quarter ended September 30, 2025.
“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.
Amid ongoing shifts in the global economy, Payoneer continues to benefit from a broad and diversified customer base. The Asia-Pacific (APAC) region remained a standout growth engine in the third quarter. APAC revenue reached approximately $57 million, increasing 21% year-over-year and outpacing other major regions—reflecting the continued rise of digital entrepreneurship in markets such as the Philippines and Southeast Asia.
This momentum underscores the Company’s customer-centric approach: building products that respond to the needs of businesses operating across borders and supporting them as they scale. Payoneer’s strategy has led to greater adoption of its 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,” Caplan stated.
Caplan added: “We are executing against our strategy and have driven over 10 consecutive quarters of year-over-year ARPU and SMB take rate expansion as we move upmarket, increase adoption of multiple products and services, and align our pricing with the value we offer customers.”
Q3 2025 Financial Highlights
- 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 our 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 of 17%.
- By region: Asia-Pacific revenue in Q3 2025 was approximately $57 million, an increase of 21% year-over-year
- Profitable: In Q3 2025, Payoneer reported $36 million of operating income and $14 million of net income.
- Volume: Payoneer generated over $22 billion of total volume in Q3 2025, 9% higher than the prior year period which reflects:
- B2B 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
- Payoneer increased its 2025 Guidance on November 5, 2025, reflecting our strong market position, differentiated assets, and confidence in our strategy.
- 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.
Business Highlights
- As of September 30, 2025 Payoneer had nearly 2 million total active customers and 548K customers who meet our ideal customer profile, or ICPs. 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 our ICP portfolio upmarket towards larger customers
- As John highlighted on our Q3 2025 earnings call, we are moving from casting a wide net to prioritizing quality. We define quality as larger, more complex customers with scale, ambition, and global reach. And we are focusing on industries and countries where we have strongest product market fit.
- In the third quarter of 2025, ARPU excluding interest income grew 22% year-over-year, representing the fifth consecutive quarter of 20%+ growth, driven by continued strength with larger customers, growth in higher take rate B2B, Checkout and Card franchises, and strategic pricing initiatives.
- In the third quarter of 2025, ICPs declined by 2%, reflecting a shift within our ICP portfolio upmarket towards larger customers
- High levels of customer trust evidenced by approximately $7.1 billion of customer funds as of September 30, 2025, up 17% year-over-year
- Record $1.6 billion of spend on Payoneer cards in the third quarter of 2025, up 19% year-over-year, driven by higher usage per customer.
