CHICAGO & PHILADELPHIA--(BUSINESS WIRE)--daVinci Payments and North Lane Technologies announced today that they have become a single, unified payments brand: Onbe. The two payment firms unite over 25 years of experience, a market-leading team and innovative technology to create a dynamic, high-growth company. Onbe, derived from the words ‘on behalf,’ will embark on its new mission to innovate and co-create engaging experiences that deliver value beyond currency for all, seamlessly connecting partners with their recipients across the globe.
With the combined strengths of the legacy companies and a majority equity investment by Centerbridge Partners, Onbe is well-positioned to meet the accelerating demand for digital payments and shape the payments industry's future. The addressable market of the combined company is estimated to be $7.9T in annual payment volume.
“Innovation, co-creation and service are at the heart of everything we do,” said Juli Spottiswood, Onbe’s Chairman and interim CEO. “We’re passionate about ensuring that our products not only meet our customers’ goals, but far exceed them. By combining both daVinci and North Lane’s unmatched teams of payments experts, Onbe is positioned to elevate its industry leadership and capture the massive global opportunity in digital payments.”
As more businesses seek to engage their audiences and augment legacy payment methods, Onbe is capitalizing on the tremendous advancements in digital payments. The company meets the growing demand for digital experiences with a suite of industry-tailored solutions for consumers, workforces, and marketplace payouts. Offering a broad array of payment options across 200 countries and 9 currencies, Onbe is driving the evolution of digital payments through its best-in-class virtual payments offering, which enables seamless, real-time payments along with choice and flexibility for recipients. Payments can be provisioned to digital wallets for online, in-store, and in-app purchases, meeting customers wherever they choose to shop and pay.
Within its new, unified operating model, Onbe brings together the people, platform and products modern businesses need to create better payment programs. Highly configurable and purpose-built for large enterprises, its technology enables the world’s most innovative companies to deliver payments and engage stakeholders flexibly and seamlessly. Onbe’s team of payments experts collaborate with organizations to design strategic solutions that drive business growth and recipient satisfaction. Custom branding helps businesses connect with their most important audiences and turn every payment into a competitive advantage.
Onbe, based in Chicago and Philadelphia, creates engaging payment experiences on behalf of modern brands for consumers, workforces and marketplaces, delivering value beyond currency. Backed by top-tier investors and with over 25 years of industry experience, Onbe's team of experts and purpose-built payment issuing platform seamlessly connect brands to their constituents around the world. www.onbe.com