Partnerships / Acquisitions

NYC’s Payoneer Acquires optile To Bolster Payment Technology

new york city, germany, payoneer, optile, acquisition, orchestration platform, global platform, news

New York City digital payment platform Payoneer is set to acquire the Germany-based open payment orchestration platform optile, Payoneer announced in a press release on Tuesday (Dec. 10).

optile’s orchestration platform was developed for global ventures to quickly expand to additional markets. Founded in 2010, optile streamlines payment acceptance processes for sellers across the globe. Its open payment network lets merchants steer their businesses, adding payment options and partners as necessary. 

Payoneer’s move to acquire of optile aligns with its drive to create a foundation that culminates in international growth for business ventures, marketplaces and small businesses (SMBs). It hopes to balance options, and diminish quandaries in today’s undefined environment. 

“We’re excited to welcome the optile team into the Payoneer family,” said Scott Galit, CEO of Payoneer. “We share a belief that in today’s fast-changing world, filled with endless opportunity, businesses all over the globe are looking for an open platform that empowers them to connect to the providers that meet their growing needs, while simplifying and streamlining the process. optile’s enterprise-grade tech and partner-friendly approach is a great addition to our global platform.”

optile’s orchestration platform gives sellers cloud-based authority and latitude for outlining and guiding their payment setup. Merchants can also direct traffic while managing speculation, evaluating execution and autonomously configuring payment administration. By outlining their payment position and orchestrating routing, its customers can have an outstanding journey, which ups payment success rates.

“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,” said Daniel Smeds, founder and CEO of optile. “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 workforce will maintain its function as a free-standing body within Payoneer, advancing its payment orchestration platform with merchant autonomy at the center of its offering.

In October, Payoneer introduced a new cross-border service that included functionality for SMBs.

——————————–

Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

TRENDING RIGHT NOW