E-Commerce and subscription billing platform Avangate has acquired payment processor 2Checkout for an undisclosed sum. The combined company will use the 2Checkout name and will be led by Alex Hart, CEO of Avangate.
The combined company will create an offering that features:
-
Subscription management, e-Commerce and payment services;
-
Flexible payment model options, from the largely outsourced merchant of record model to API-driven payment facilitation and payment gateway models, with the ability to choose the products and services that best fit each customer’s unique needs; and
Advertisement
-
Enhanced customer service globally due to increased operational scale and support.
The combined company also broadens its market reach, now conducting business and settle transactions in more than 30 languages and 130 local currencies. Additionally, it supports both digital and physical goods and services in more than 250 merchant categories in 200 countries and territories worldwide.
Ken Benvenuto, current CEO of 2Checkout, will continue to serve the company as a Board member and advisor.
Upon completion of the acquisition, the company will serve more than 8,000 active merchants worldwide.
