- Digital payment platform Payoneer recently announced it acquired Munich-based company optile. These are the details about the deal.
Digital payment platform Payoneer recently announced the acquisition of Munich-based company optile. optile streamlines payment acceptance processes for merchants worldwide. Launched 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 orchestration platform is designed for international enterprises to scale faster to new markets thus consolidating all the players of the global payment market together in one unified layer, ensuring transparency, flexibility, redundancy and independence.
Payoneer’s acquisition of optile is a big step towards its vision of building a platform that drives global growth for enterprises, marketplaces, and SMBs worldwide. Plus it democratizes opportunity and reduces complexity.
“We’re excited to welcome the optile team into the Payoneer family. 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,” said Payoneer CEO Scott Galit in a statement.
By providing an orchestration platform, optile grants merchants with full cloud-based control and flexibility for designing and managing their payment setup, routing transactions, managing risk, and analyzing performance. And merchants gain the freedom to configure their payment processing independently – defining their payment setup and creating payment routing flows and risk rules that provide their customers with the best possible experience. As a result, this increases payment success rates, improves customer retention, reduces cost, and maintains redundancy.
optile offers merchants a modular solution to create their own open payment ecosystem and achieves a barrier-free payment communication between multiple merchants and end-customers. This solution helps businesses open new revenue streams by facilitating cross-selling while providing customers with a secure, frictionless payment experience across the ecosystem.
“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,” added optile founder and CEO Daniel Smeds.
optile’s 75-person team will continue to operate as an independent group within Payoneer.
