Payoneer Reports Record Q3 2025 Revenue, Reinforces Support for Pakistan’s Growing Digital Economy
Payoneer (NASDAQ: PAYO), the global financial technology company powering business growth across borders, today announced its third quarter 2025 financial results, reporting record quarterly revenue and continued momentum in supporting small and medium-sized businesses (SMBs) and digital entrepreneurs around the world, including in rapidly expanding markets such as Pakistan.
Payoneer reported $270.9 million in total revenue, marking a 9% year-over-year increase, with revenue excluding interest income reaching $211.4 million, up 15% year-over-year. This performance was driven by 9% volume growth and continued take rate expansion among SMB customers, demonstrating sustained global demand for Payoneer’s borderless financial infrastructure.
The company also delivered adjusted EBITDA of $71.3 million, reflecting ongoing operational scale and disciplined execution. SMB customer revenue reached $192 million, up 17% year-over-year, supported by strong performance across key segments:
• SMBs selling on marketplaces: $121 million, up 11% year-over-year
• B2B SMBs: $62 million, up 27% year-over-year
• Checkout revenue: $9 million, up 49% year-over-year
Payoneer continued to expand card usage globally, reporting a record $1.6 billion of spend on Payoneer cards, up 19% year-over-year. Customer funds reached $7.1 billion, reflecting continued trust and platform growth.
As Pakistan’s digital exports and service-based economy evolve, Payoneer’s global platform, localized support, and multi-currency products continue to enable freelancers, eCommerce traders, IT firms, agencies, and B2B service providers to expand internationally and transact with confidence.
John Caplan, Chief Executive Officer of Payoneer, said: “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. 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. 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. We will continue to navigate short term volatility as our customers adapt their businesses in a dynamic landscape while evolving our business to capture the significant long-term opportunity in front of us, with a clear focus on delivering shareholder returns.”
With millions of Pakistani freelancers and digital businesses exporting services worldwide, Payoneer continues to serve as a critical infrastructure partner supporting cross-border payments, business scalability, compliance, and international market access.