Payoneer acquires China’s Easylink Payment to expand global footprint

Payments platform Payoneer has completed its acquisition of China-based payment service provider Easylink Payment, further expanding its global presence.

While the financial terms of the deal remain undisclosed, the acquisition makes Payoneer the third foreign payment platform licensed to offer online payment services in China.

Payoneer CEO John Caplan says the deal “strengthens our global regulatory infrastructure and positions us to better serve those customers with enhanced and localised products and services”.

Founded in 2005, Payoneer enables cross-border payments for businesses and entrepreneurs in over 190 countries, supporting more than 70 currencies.

Payoneer previously acquired Israeli AI-driven data platform Spott in 2023, before snapping up Singapore-based payroll firm Skuad for $61 million last year.

This M&A for growth strategy has been complemented by a series of regulatory approvals, including an Electronic Money Licence (EMI) granted by the UK’s Financial Conduct Authority (FCA) in 2023, alongside licenses in the US, Japan, Australia, EU, Hong Kong and India.