Digital payments firm Payoneer has agreed to buy optile, a provider of open payment orchestration platform based in Munich.
optile will retain its operational independence following deal closure, which is anticipated within the next two months.
optile’s platform is said to offer merchants the flexibility to add payment partners and options as per their preferences.
The platform enables businesses to enter new geographies faster by integrating various players of the global payment market in a single layer, noted Payoneer.
Commenting on the deal, optile founder and CEO Daniel Smeds 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 will also absorb optile’s 75 employees. Financial terms of the transaction were not revealed.
Payoneer CEO Scott Galit 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.”
In October this year, Payoneer launched a new service for US businesses of any size to send international payments. The service will enable SMBs to send payments to vendors, suppliers, and contractors worldwide rapidly at low cost.