Press Release: Payoneer acquires open payment orchestration platform optile

NEW YORK & MUNICH, December 10, 2019 – Payoneer, the digital payment platform empowering businesses around the world to grow globally, announced today the acquisition of 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 orchestration platform is designed for international enterprises 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.

Payoneer’s acquisition of optile is a meaningful step towards 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 partner – 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, “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.”

In 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. 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. This increases payment success rates, improves customer retention, reduces cost, and maintains redundancy.

In addition, optile offers merchants a modular solution to create their own open payment ecosystem, achieving 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.

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-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. www.payoneer.com

optile is an open payment orchestration platform that simplifies online payment 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. www.optile.net