Payoneer to Acquire Open Payment Orchestration Platform optile
December 17, 2019
NEW YORK & MUNICH, December 10, 2019 -- Payoneer, the digital payment platform empowering businesses around the world to grow globally, announced today it has agreed to acquire optile, a Munich-based tech company that streamlines payment acceptance processes for merchants worldwide. Founded in 2010, optile's open payment ecosystem puts merchants in control of their business with the flexibility to add payment options and partners as their needs evolve, boosting conversion and improving customer experience. optile's payment orchestration platform (POP) is designed for businesses to scale faster to new markets, consolidating all the players of the global payment market together in one unified layer, ensuring transparency, flexibility, redundancy, and independence. The transaction is expected to close within the next two months.
Payoneer's acquisition of optile is another meaningful step towards realizing its vision of building a platform that drives global growth for enterprises, marketplaces, and SMBs worldwide, democratizing opportunity and reducing complexity in today's borderless world. Payoneer is committed to being a dependable and independent platform -- for its customers, partners, and the entire payment network. This commitment to openness and collaboration are fundamental in today's payment world where merchants need more flexibility and easy access to the best providers as their business grows.
Scott Galit, CEO of Payoneer 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 are excited to welcome the optile team into the Payoneer family."
By implementing optile's cloud-based payment orchestration platform, merchants gain full control, freedom, and flexibility to design and optimize their payment experience, improving payment conversion and customer retention. With a single API, optile accelerates time-to-market, lowers cost, and harmonizes tech infrastructure.
In addition, optile allows merchants to create their own ecosystem of affiliated partners to facilitate cross-selling and open new revenue streams, while providing their customers a superior payment experience. All participating merchants can share the same payment process while maintaining their own backend and independence. For example, airlines can create an ecosystem of merchants that offer travel-related services, where the customer pays for their flight ticket, car rental, hotel, and more -- without the need to re-enter payment information.
Daniel Smeds, Founder and CEO of optile, said, "In joining forces with Payoneer, we are 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."
optile's 75-person team will continue to operate as an independent group within Payoneer, developing its payment orchestration platform with supplier and payment provider-independence at the core of its offering.
Payoneer's mission is to empower businesses to go beyond -- beyond borders, limits, and expectations. In today's digital world, Payoneer enables any business of any size from anywhere to access new economic opportunities by making it possible to transact as easily globally as they do locally.
Payoneer's digital platform streamlines global commerce for millions of small businesses, marketplaces, and enterprises from 200 countries and territories. Leveraging its robust technology, compliance, operations, and banking infrastructure, Payoneer delivers a suite of services that includes cross-border payments, working capital, tax solutions, and risk management. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world's leading digital brands like Airbnb, Amazon, Google, and Upwork, Payoneer makes global commerce easy and secure. Founded in 2005, Payoneer is profitable and has a team based all around the world.
Payoneer -- one world, one platform, endless opportunity.
optile is an open payment orchestration platform that simplifies online payments for global commerce. The cloud-based platform brings together the entire payment market, granting businesses access to any payment method and any payment provider worldwide. With optile, merchants stay in full control over their payments and can optimize their payment setup via one portal. This gives businesses a high degree of independence, flexibility, and freedom in choosing payment solutions that exactly fit their strategy. optile's open platform goes hand-in-hand with a short implementation time and reduces technical and operational costs. End-customers can benefit from a whole new level of personalized payment experience due to optile's advanced checkout architecture. optile serves industry leaders from retail, travel, mobility, and digital. The Munich-based tech company was founded in 2010 by Daniel Smeds and currently employs 75 people.