Payoneer acquiring open payment platform optile

Merchants gain full control, freedom and flexibility to design and optimize their payment experience.

Payoneer CEO Scott Galit, COO Keren Levy, and Optile founder and CEO Daniel Smeds.

Payoneer, the digital payment platform empowering businesses around the world, including the Philippines, has agreed to acquire Optile, a Munich-based tech company that streamlines payment acceptance processes for merchants worldwide. The transaction is expected to close within the next two months.

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. It consolidates all the players of the global payment market together in one unified layer, to ensure transparency, flexibility, redundancy, and independence.

Payoneer’s acquisition of optile is yet another step towards its vision of building a platform that drives global growth for enterprises, marketplaces, and SMB 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 is fundamental in today’s payment world where merchants need more flexibility and easy access to the best providers as their business grows.

“Payoneer and optile share a common belief that in today’s fast-changing digital world, businesses all over the world deserve an open platform that gives them full control over their operations by allowing them to streamline payments globally, empowering them to accelerate their growth today to 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,” Payoneer CEO Scott Galit said.

By implementing Optile’s cloud-based payment orchestration platform, merchants gain full control, freedom and flexibility to design and optimize their payment experience. This also aims to improve payment conversion and customer retention. With a single API, Optile accelerates time-to-market, lowers cost and harmonizes tech infrastructure.

In addition, optile also enables 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.