ProcessOut

ProcessOut operates as a payment orchestration platform, providing tools for businesses to manage and optimize their online payment systems. The company was established in 2015 and has its headquarters in Paris, France. The founding team consists of six French entrepreneurs: Cyril Chemla (CEO), Manuel Huez (CPO), Louis-Paul Dareau (CTO), Grégoire Delpit (COO), Jeremy Lejoux (Lead Customer Success), and Guillaume Merindol (Head of Data). The idea for ProcessOut emerged from combining the engineering team's project on payment method aggregation with Grégoire Delpit's background in investment and data's role in payments.

The firm's core business revolves around a single API that gives merchants access to multiple payment service providers (PSPs) globally. This allows clients, typically scale-ups, e-commerce stores, and large enterprises, to route transactions to the most suitable provider in real-time. This smart routing technology uses machine learning to analyze transactions and select the best path based on factors like cost, performance, and geographic location, aiming to increase authorization rates and reduce processing fees. The platform also provides a unified dashboard for monitoring and analyzing payment data from various gateways, offering insights into transaction performance and potential issues. Additional features include fraud detection, management of recurring payments, and automatic card updaters.

ProcessOut's business model is usage-based, with fees typically charged per transaction. A significant milestone for the company occurred in February 2020 when it was acquired by the global payment solutions provider, Checkout.com. Despite the acquisition, ProcessOut continues to operate as a standalone, vendor-agnostic business unit, a condition stipulated in their agreement with Checkout.com. This structure allows them to partner with a wide range of PSPs, including competitors of Checkout.com, to serve the best interests of their merchants. Before the acquisition, ProcessOut had successfully gone through accelerator programs like Techstars NY and 50 Partners and had raised $2.07 million in funding.

Keywords: payment orchestration, smart routing, payment optimization, transaction routing, PSP aggregation, online payments, fintech, reduce transaction fees, increase authorization rates, payment data analytics, merchant services, e-commerce payments, recurring payments, fraud detection, API integration, multi-provider payment, payment infrastructure, Checkout.com, cross-border payments, payment performance, financial technology