Payoneer Acquires Armor Payments

The financial technology sector is seeming more and more like a full and legitimate industry, with two name brand firms merging.

Payoneer, one of the top business-to-business payment platforms, announced last week that it had acquired Armor Payments.

The peer-2-peer industry has exploded in popularity so much that it has spawned sub-industries such as business-2-business, a sub-industry that both firms belong to.

Armor Payments, based in Sillicon Valley, is a firm that focuses on online payment security and third-party intermediary payment solutions.

Payoneer, on the other hand, focuses on international business transactions and foreign currency exchange.

The merging of the two companies appears to be a perfect match. Not only has the online payment industry grown with enormous speed, but the online payment security industry has growth right along side it to service the growing demand.

One of the primary products being offered by the two companies is an escrow-as-a-service platform.

By integrating their two platforms, Payoneer and Armor Payments will be able to allow companies from across the globe to do business with others, bypassing traditional barriers facing international transactions.

“SMBs all over the world can work and trade globally more effectively knowing both sides are fully protected from fraud,” said Armor Payments CEO and Co-Founder Scott Reynolds.