Payoneer Global Inc. reported 9% year-over-year revenue growth in the third quarter of 2025, helped by strong activity from small and midsize businesses and faster growth in the Asia-Pacific (APAC) region.
The financial technology company posted revenue of about $271 million for the quarter ended Sept. 30, 2025. APAC revenue reached about $57 million, up 21% from a year earlier, making it the fastest-growing region for the company. Payoneer said growth in markets such as the Philippines and across Southeast Asia show the growing digital trade and cross-border business activity.
“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 John Caplan, CEO, Payoneer.
Revenue growth was partly offset by lower interest income, which fell 9% year over year as interest rates declined. This drop came despite a 17% increase in customer funds held on the platform. Excluding interest income, revenue increased 15% from the same period last year.
Payoneer reported operating income of $36 million and net income of $14 million for the quarter. Total transaction volume reached more than $22 billion, up 9% year over year.
Business-to-business transactions totaled $3.1 billion, an 11% increase. Volume from small businesses selling on online marketplaces reached $12.5 billion, up 4%. Checkout services, previously called Merchant Services, posted $223 million in volume, a 46% increase. Enterprise payouts grew 19% to about $6.5 billion.
“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 said.
Payoneer said it continued to shift its focus toward larger and more complex customers. As of Sept. 30, the company had nearly 2 million active customers, including about 548,000 that meet its “ideal customer profile,” or ICP. These are customers with average monthly volume above $500 who were active over the past year. The number of ICPs fell 2% year over year as the company moved upmarket.
“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,” Caplan said.
Average revenue per user, excluding interest income, rose 22% from a year earlier. Payoneer said this was driven by higher usage among larger customers, growth in B2B and Checkout services, and pricing changes.
Customer funds held on the platform reached about $7.1 billion, up 17% year over year, pointing to continued trust in the service. Spending on Payoneer cards totaled a record $1.6 billion in the quarter, up 19%.
During the quarter, Payoneer accelerated share repurchases to $45 million, bringing year-to-date buybacks to $94 million. The company also raised its full-year 2025 guidance in early November, citing steady demand across its core markets.