US-based financial services firm Payoneer has agreed to acquire optile, a Germany-based provider of open payment orchestration platform that facilitates online payment for global commerce, for an undisclosed amount.
Under the terms of the transaction, a team of 75 persons from optile will continue operations as an independent group within Payoneer. optile will continue working on its payment orchestration platform, with supplier and payment provider-independence at the core of its offering.
Payoneer CEO Scott Galit said: “Payoneer and optile share a belief that in today’s fast-changing digital world filled with endless opportunity, businesses all over the globe deserve an open platform that gives them full control over their business and streamlines payments globally – empowering them to accelerate growth today and meet their evolving needs in the future
“optile’s enterprise-grade tech and partner-friendly approach is a great addition to our global platform and we’re excited to welcome the optile team into the Payoneer family.”
Optile’s POP offers transparency, flexibility, redundancy and independence
Established in 2010, optile’s cloud-based payment orchestration platform enables merchants to gain full control, freedom and flexibility to design and optimise the payment experience, and improves the payment conversion and customer retention.
In addition, the company is said to accelerate the time-to-market, lower the costs and complements the tech infrastructure, using a single API.
The payment orchestration platform (POP) offered by the company is said to consolidate all the global payment market players in one unified layer, and enable businesses to quickly scale to new markets.
Optile founder and CEO Daniel Smeds said: “In joining forces with Payoneer, we’re thrilled to have the opportunity to leverage their global infrastructure and team to continue building the world’s leading open payment orchestration platform.
“Payoneer shares our obsession with customer experience, meeting their needs today while preparing them for tomorrow, and are equally committed to bringing simplicity, flexibility and scale to today’s digital business.”
Payoneer said that the transaction complements its plans to develop a platform for enterprises, marketplaces and SMBs across the world. The acquisition is planned to be closed in the next two months.
