Venture backed CITCON acquires OPAY

CITCON has acquired OPAY Inc. Financial terms were not disclosed.

Markham, Ontario based OPAY provides QR code-based payment solutions. The company integrates the most adapted payment methods such as Alipay, WeChat payment, and VISA/Master credit card payments, to help Canadian merchants attract Chinese consumers.

Benjamin Liang, founder of OPAY, will join CITCON as Head of Business Development in Canada.

Founded in 2015, Santa Clara, California based CITCON is a payment technology company enabling merchants to accept QR-based mobile wallets in-store and online on a global scale.

CITCON has raised US $15 million from East West Bank, Zhen Fund, HEDA Capital, Cyber Wisdom, Lightbridge Ventures, and TEEC Angel Fund.

photo credit: Markus Winkler via pixabayNews Release

CITCON Continues to Expand QR Payments Across North America with OPAY Acquisition

Expanded Payment Solutions and Customer Support to Help Merchants Drive Business

July 31, 2020 08:00 AM Eastern Daylight Time

SANTA CLARA, Calif.–(BUSINESS WIRE)–CITCON, the leading mobile payment platform, is acquiring OPAY, Inc., a payment company based in Toronto, Ontario. OPAY offers a full range of mobile payment services including an in-store and online payment gateway to help Canadian merchants serve Asian consumers. Among OPAY’s Canadian clients are major super-store groups, luxury auto dealerships, and premier retail merchants. CITCON is also pleased to welcome OPAY’s Chairman Benjamin Liang to our new team as Head of Business Development in Canada. With this acquisition, CITCON takes a further significant step to serve merchants and their customers easily and seamlessly across North America.

Mr. Liang is currently Chairman of OPAY Inc. and deputy secretary-general of the China Canada Chamber of Commerce, with solid experience in digital payment gateway, electric wallet and cross-border digital payment related businesses. Prior to OPAY, he worked at AT&T, Sun Microsystems (ORACLE) and IBM, responsible for the development of ATM systems and deployment of value-added service for telecommunication companies. In his role at CITCON, he will contribute his expertise to lead business development for CITCON in Canada.

“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,” said Chuck Huang, Founder and CEO at CITCON. “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. ”

“CITCON has been serving the Canada market since 2017. We are excited about the acquisition which combines our strengths in business offering and customer support, and demonstrates our commitment to the Canada market with our leading QR payment technology,” said Wei Jiang, President and COO at CITCON. “With expanded business opportunities growing in the eCommerce and retail space, Canadian merchants can take advantage of our full stack payment solutions to grow revenue and thrive in the post-pandemic global marketplace.”

“Fast-growing mobile wallet consumers are revolutionizing the $25 trillion traditional card-based digital payment market,” said Benjamin Liang, Head of Business Development at CITCON Canada. “CITCON is a clear leader in the mobile payment space. I am thrilled to join forces with CITCON and be part of the team to accelerate success in Canada.”

From stand-alone devices, in-person and eCommerce payment APIs, to POS and payment gateway integrations, CITCON’s payment solution makes it easy for merchants to accept alternative payment methods (APMs) across online, mobile app, and physical stores globally. Our easy-to-integrate solution and strong tech service team allows merchants of all sizes to get up and running fast, expand reach and fuel international growth with fraud and chargeback protection.

About CITCON

Founded in 2015, CITCON is a leading payment technology company, building a payment infrastructure that enables global merchants to accept payments from billions of fast-growing mobile wallet consumers through web, mobile and in-store channels around the world. Mobile payment provides a more user-friendly, secure, and safer contactless shopping and payment experience for both consumers and merchants compared to other payment options. CITCON’s secure, scalable and open system allows businesses to quickly and easily accept domestic and international mobile wallets by using a single API suite and an integrated processing and fund settlement platform. Millions of mobile wallet consumers are now able to shop and pay at tens of thousands of merchants, online, mobile and in-store. Headquartered in Silicon Valley, California, CITCON has five regional offices in the U.S., Canada, Europe and Asia. For more information, please visit www.citcon.com

Contacts

Evelyn Yang
Head of Marketing
CITCON
+1 888 254 4887
evelyn.yang@citcon.com