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OpenTransact logo — A unified platform to consolidate, automate, scale and monit...

OpenTransact

A unified platform to consolidate, automate, scale and monitor payment operations for any business

Founded 2010 United States New York, United States 2 employees Convertible Note Financial Services, Fintech +1

General Information

Company Name OpenTransact
Founded Year 2010
Location United States New York, United States
Employees 2
Industries Financial Services, Fintech, Payments
Funding Stage Convertible Note
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About OpenTransact

OpenTransact, with the slogan "A unified platform to consolidate, automate, scale and monitor payment operations for any business," is a leader in delivering transformative financial solutions for CBD merchants, cannabis businesses, and other high-risk sectors. Founded in 2010 and headquartered in the United States, the company has a proven track record of processing over $1 billion in transactions over the past decade. The last investment, a Convertible Note investment, was made on 01 October 2013 and the investors were Scout Ventures and Bradley C. Harrison. OpenTransact offers a comprehensive platform that allows businesses to connect any payment method, provider, acquirer, or third-party services to their account and send payments to any available processing service without updating their integration. This approach reduces developer workload and offers optionality and flexibility across processors. Additionally, the company provides a robust yet simple rules engine to optimize payment processing costs, detect fraud, and ensure compliance. The rules engine can be configured to map how payment data is validated and processed based on various conditions such as region, currency, transaction size, or customer history. Specializing in the industries of Financial Services, Fintech, and Payments, OpenTransact is positioned as a trusted partner for businesses seeking robust, censorship-resistant financial solutions. With a focus on consolidation, automation, scalability, and monitoring of payment operations, the company presents a compelling solution for businesses operating in high-risk sectors, offering a valuable and timely service in the evolving landscape of financial technology.

Business keywords: Payment operations, Financial solutions, CBD merchants, Cannabis businesses, High-risk sectors, Transaction processing, Integration, Payment methods, Data synchronization, Rules engine, Fraud prevention, Compliance risk, Censorship-resistant, Business partnership, Payment processing

No funding data available for OpenTransact yet.

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FAQ About OpenTransact

A unified platform to consolidate, automate, scale and monitor payment operations for any business
OpenTransact was founded in 2010.
OpenTransact is headquartered in New York, United States.
OpenTransact operates in Financial Services, Fintech and Payments. Its work centres on Payment operations, Financial solutions, CBD merchants and Cannabis businesses.
OpenTransact has approximately 2 employees.
Top alternatives and competitors to OpenTransact include Checkout.com, LINK4PAY, Inspyre Payments, Retrypay, Zodaka. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
OpenTransact and Checkout.com are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for OpenTransact, https://bouncewatch.com/company/opentransact, updated 25 November 2024. When citing, please name BounceWatch and link this page.

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