France-based Limonetik provides a full-service payment gateway on a white-label basis that acquirers use to give merchants access to 125 payment methods covering 60 countries. By year-end 2019, 185 payment methods will be connected. Newly added countries will be concentrated in Asia and Africa. Acquirers need only a single API to reach all payment methods.
Limonetik’s software-as-a-service model provides processing, acquiring, support for marketplaces, pay-out services, and more. The company has invested heavily in its reconciliation engine, which handles the complex back-office operations associated with alternative payment options and local-only credit and debit cards, including different formats, data, API, and settlement rules. The company’s platform can handle reconciliation for owners of marketplaces, which need to collect funds from buyers and independently make settlement with all sellers net of marketplace fees. Other services include collecting and reconciling funds when individual payments are split between prepaid cards and global credit and debit cards. The company began 11 years ago as a prepaid card processor.
Limonetik, which is PCI DSS level 1 certified and holds a European Payment Institution license, handles payments that originate in 60 countries and manages 100 currencies. It is used by acquirers and others that have in-house capabilities to handle global card processing but need to offer their online merchants alternative payment options as well as collection of those payments. Limonetik can also process QR code payments initiated in a store. Last year the company processed $926 million (€822 million). This year it expects to handle $1.69 billion (€1.50 billion).
Approximately 60% of all transactions Limonetik handles are for acquirers and other gateway providers, including ACI, Ingenico, Worldline, Verifone, Societe Generale, Credit Mutuel, Computop, and BNP Paribas.
The remaining transactions are initiated at ecommerce merchants and marketplaces signed directly by Limonetik, including Rakuten, Conrad, Conforma, and Engie.
Most of Limonetik’s equity is owned by venture capital firms. The company will open offices in the U.S. and Asia this year.
Christophe Bourbier is Chief Executive Officer at Limonetik in Paris, France, www.limonetik.com.
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