Payoneer Partners With Optty for BNPL Offering

Buy now, pay later (BNPL) integration platform Optty has formed a partnership with payments provider Payoneer, Optty announced in a Wednesday (June 1) press release.

The partnership is designed to meet what the firm calls a growing demand among B2B payment gateway and payment service provider (PSP) customers for multiple BNPL options.

Based in Singapore, Optty works with payment gateways and PSPs to allow for the mass expansion of BNPL in 59 markets around the world, “driving significant acceleration of payments processing growth,” the release said.

The company allows payment gateways to offer BNPL services the same way they would credit card or digital wallet capabilities, helping organizations reduce the time spent on point-to-point integration.

“Payment gateways and service providers recognize the need to offer as many payments as possible, but the complex integration of BNPL has been a difficult barrier,” Optty CEO Natasha Zurnamer said in the release. “Optty eliminates that obstacle and is the superhighway to revenue.”

Read more: Optty Gets $9M to Launch BNPL Provider Platform

Optty says it has integrations with 41 BBNPL solutions, including Afterpay, Affirm, Grab, Klarna, Scalapay and Zip. With this integration with Optty, Payoneer joins a number of other payment gateways and PSPs, including Salesforce, Adobe Commerce and BigCommerce.

Last month, Optty announced it had raised $9 million in “stealth” to develop its integration platform. The company has said it expects that by 2023 the platform will be capable of integrating “more than 100” BNPL brands and digital wallets.

According to Optty, retailers that integrate buy now, pay later technology without using its services typically spend around one week doing the needed internal development, while Optty can be folded into an operation within “a few minutes.”

A recent report by PYMNTS and Zip found that 56% of luxury and specialty store shoppers were highly interested in using installment payment plans to make online purchases. PYMNTS research has also found that the BNPL industry — now worth more than $125 billion — is projected to grow to $3.3 trillion by 2030.