Payoneer announced 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’re 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’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.”
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.