OPN Co., Ltd.
Opn Acquires US Market Leader MerchantE as a Payments Platform With this acquisition, the number of member stores will exceed 20,000, and the scale of payment processing will exceed 19 billion
USD.Starting with a full-scale entry into the U.S. payment market, we will accelerate our global expansion to grow into a global Fintech company.
Opn (Headquarters: Chuo-ku, Tokyo, CEO: Jun Hasegawa, hereinafter referred to as the Company) announced today, November 15 (Tuesday), Merchant eSolutions, Inc. (Headquarters: Georgia, USA, CEO: Sergi Herrero, hereinafter referred to as MerchantE). We are pleased to inform you that we have acquired
[Background of this acquisition]
As a payment platform, MerchantE provides payment solutions for businesses of all sizes and is a driving force in the US market. By providing comprehensive payment solutions that enable smooth transactions, we have supported the business growth of mid-sized and large companies in the United States. The company is a payment platformer and technology company with a proven track record, with a full range of technologies, including back-end technologies such as high-performance servers and databases that support payment
processing. In addition, embedded finance is growing rapidly in the United States, and the market size is expected to reach 50 billion dollars (equivalent to approximately 7 trillion yen) by 2026, more than double the current size. We regard it as a very important market for our company to grow globally.
*Note: The exchange rate between US dollar and Japanese yen is converted at 1 US dollar = 140.17 yen (as of 21:00 on November 14, 2022).
With this acquisition, Opn’s global business expansion will expand to seven countries, including the United States. Together, Opn and MerchantE will have more than 20,000 merchants and more than $19 billion in payment processing by 2022, not only leading the payment sector in the Asia-Pacific region. will also join the top 25 payment providers in the United States. With this acquisition, we will accelerate our growth and innovation in the important market of North America, aiming to become a world-class payment provider.
[Company and MerchantE comments]
■ Opn Founder and CEO Jun Hasegawa
“We are confident that MerchantE and Opn will build a strong partnership and are very proud to welcome the MerchantE team to our company. So this acquisition marks a major turning point, and an important step in our commitment to providing seamless and borderless payment experiences for all people and businesses.In addition to helping businesses grow, Opn and MerchantE share a vision of a relentless commitment to developing innovative solutions to provide the best payment experience for consumers. We will further strengthen our system and accelerate the momentum of global expansion so that we can always provide the best service that meets the needs of our customers.”
■ From Ezra Don Harinsutt, Co-Founder and President of Opn
“By collaborating with Opn, which leads the payment field in Southeast Asia and Japan, and MerchantE, which has reliable server and database processing technology that supports payment processing, we can expand the customer base for a wide variety of companies regardless of size. We will be able to provide the services we need.We are pleased to accelerate the business of both companies with MerchantE’s excellent team and move forward to the next stage of Opn’s expansion in international markets including the United States. increase.” ■ MerchantE CEO Sergi Herrero
“We are very pleased to start a new chapter together with Opn. We believe that this acquisition will bring great benefits in increasing our presence in the embedded financial market. Delivering better products. Therefore, MerchantE will continue to work on technology development, and the collaboration with Opn will enable us to bring our products to more new customers and build a strong foundation in the fast-growing payment market. The closing of this acquisition is the result of the hard work of our staff and we look forward to celebrating this great achievement with you.”
[About the future]
Opn and MerchantE provide digital finance solutions to some of the world’s leading companies, including cloud ERP software Oracle NetSuite, e-commerce platform Magento, and e-wallet with one of the largest users in Southeast Asia. It includes TrueMoney and Toyota Financial Services, which oversees the financial operations of the Toyota Group, the world’s largest automaker. Opn will continue to be headquartered in Tokyo, while MerchantE will maintain its headquarters in Alpharetta, Georgia and continue to operate as its own brand. Going forward, the two companies will share technologies, effective methods and examples, and explore and implement opportunities to jointly develop new services.
Founded in 2013, Opn has offices in Japan, Southeast Asia, and the United States. We specialize in one-stop online payment solutions and digital transformation solutions, serving thousands of merchants worldwide. We are the payments leader in the Asia-Pacific region and are among the top 25 payment providers in the US. With a vision of “Access to the Digital Economy for Everyone”, Opn provides fair and open access to the growing economic ecosystem and innovative ways We will connect people, companies, and society. Major shareholders of Opn include Toyota Financial Services Co., Ltd., which oversees Toyota Motor Corporation’s financial business, and SCB 10X, a venture capital subsidiary of Siam Commercial Bank.
For details, please refer to the website (URL: https://www.opn.ooo). About MerchantE
As a leading company that provides payment and commerce solutions, MerchantE meets the diverse needs of medium-sized B2B companies. From front-end to back-end, our strength lies in our full-stack development capabilities that allow us to work directly with major card brands. In the US market, it ranks among the top 25 payment providers.
For details, please refer to the website (URL: www.merchante.com). Details about this release: