Citron, a mobile payments platform, is acquiring Opay, Inc. a payment company based in Toronto, Ontario, that offers a full range of mobile payment services including an in-store and online payment gateway.
Among Opay’s Canadian clients are big box retailers, luxury auto dealerships and premier retail merchants, according to a press release.
Opay CEO Benjamin Liang will join Citron as the new head of business development in Canada. Liang is also deputy secretary-general of the China Canada Chamber of Commerce, and has experience in digital payment gateway, electric wallet and cross-border digital payment related businesses.
“Fast-growing mobile wallet consumers are revolutionizing the $25 trillion traditional card-based digital payment market,” Liang said in the release. “Citron is a clear leader in the mobile payment space. I am thrilled to join forces with Citron and be part of the team to accelerate success in Canada.”
With the acquisition of Opay, Citron is continuing to build its payment infrastructure that enables global merchants to accept payments from billions of mobile wallet consumers through web, mobile and in-store channels around the world.
“By adding the capabilities of Opay and its founder, our new team will build on several key functions, including sales, customer service, finance and compliance,” Chuck Huang, founder and CEO at Citron, said in the release. “Shelter-in-place, health concerns and social distancing during the pandemic are accelerating the already rapid adoption of mobile devices and digital payments throughout the world, online as well as in store. We are slated to capitalize on this trend, expanding in many other countries and increasing investment in products and technologies.”
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