Checkout.com to acquire ProcessOut
Checkout.com, a London based payments processor has acquired French startup ProcessOut. ProcessOut works with a number of businesses to optimize their international payment processing and it provides a dashboard for companies to monitor and benchmark payment processing capabilities. Along with this ProcessOut also provides a smart router that optimizes payment processing in real-time to improve performance and reduce costs.
In the past 12 months, ProcessOut has analysed over $20 billion of transactions and 10% of total online transactions in France were through the ProcessOut platform.
“We are excited to be joining Checkout.com at such a pivotal moment. I’d like to thank the dedicated team behind ProcessOut and our investors and mentors who have helped and supported us throughout the journey to make the business what it is today,” said Chief Product Officer & Co-Founder at ProcessOut Manuel Huez.
As a part of the acquisition, ProcessOut team will join Chechout.com’s global team and help the company to expand its service offerings for enterprise merchants processing payments globally.