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Payoneer acquires payment orchestration platform optile

Digital payments platform Payoneer is all set to acquire the Munich-based tech company optile in a bid to further its goal of developing a platform for boosting growth for enterprises, marketplaces and SMBs. The partnership, as the supplier states, is expected to facilitate the streamlining for global commerce for businesses present worldwide.

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.”

The German firm’s payment orchestration platform (POP) is developed for businesses to expand to new markets, consolidating all the players of the payment market together in one unified layer.

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.”

Established in 2010, optile’s open payment ecosystem allows merchants to add payment options and partners depending on their needs. It aims to provide merchants with control and flexibility to design and optimise their payment experience, thus improving payment conversion and customer retention. With a single API, optile accelerates time-to-market, lowers cost and harmonises tech infrastructure.

The transaction is expected to close in the next two months. Post-acquisition, optile will continue to operate as an individual team within Payoneer.

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