Checkout.com

British company Checkout.com offers a cloud-based payment infrastructure for businesses to accept and process local and cross-border online payments with embedded transaction insights and fraud prevention (dubbed Fraud Detection Pro). Checkout.com also provides a hosted payment page that collects customer information, processes payment requests, and handles authentication, on behalf of its users. 

The modular platform infrastructure allows users to choose only the payment elements and integrations they need and embed it into websites and mobile apps (Android and iOS). Checkout.com is also integrated with a range of ecommerce website building platforms such as Shopify and BigCommerce . 

In March 2023, ​​Checkout.com launched a card issuing infrastructure (physical, virtual, and on-off cards), “Checkout Issuing.” Checkout claims that its cards rely less on third-party integrations, compared to similar market offerings, thereby offering users greater flexibility. The company further noted that enterprises issuing cards using the platform can also earn a portion of the interchange fees. The company subsequently launched a proprietary AI-based selfie biometric solution , known as Identity Verification, in July 2023, for customer onboarding and digital payments. 

The platform can process transactions in more than 150 currencies and has nearly 20 settlement currencies. It supports global debit and credit cards, digital wallets, domestic cards, and local payment methods. As of August 2021, the company operated through 17 global offices across the US, France, Brazil, Australia, Saudi Arabia, Singapore, and Hong Kong with plans to expand to India and the Philippines in the future. The company also received a Retail Payment Services license from the Central Bank of the UAE in May 2023, incidentally making it the first global payments provider to obtain an acquiring license in the country.

Checkout.com has acquired several smaller firms to boost its cross-border and multi-currency offering including Pin Payments and ProcessOut, both in 2020. In May 2022, the company announced its intent to acquire ubble, a French provider of remote identity verification solutions, to expand its current suite of financial products to help merchants better manage the financial risks involved in accepting and sending payments to and from their customers. 

Key customers and partnerships

The UK-based company reported having thousands of customers as of August 2021—primarily large enterprises including Bloomingdales, Pizza Hut, Swarovski, Curve, Wise, Getty Images, and Klarna—across a range of industries.  As of March 2024, the platform was servicing global brands such as Sony, SHEIN, Wise, Patreon, and GE HealthCare.

In May 2024, Checkout.com partnered with Mastercard to enhance virtual cards to make B2B payments for online travel agents and other travel businesses. In March 2024, Checkout.com partnered with Bolt , a one-click online payment facilitator, to integrate their offerings and enhance cart conversions with ecommerce merchant partners. In February 2024, Checkout.com partnered with Visa and UAE-based Stake , a digital real estate investment platform, to launch a cross-border account funding solution within the GCC region.

Funding and financials

In January 2022, the company noted that the volume of transactions handled by its infrastructure had tripled over the past year (for the third year in a row) and that it had opened new offices in six countries across four continents. Notably, The company has reportedly been profitable since 2012 (within one year of being founded). 

The company raised USD 1 billion in Series D funding in January 2022 (a year after raising USD 450 million Series C funding) at a valuation of USD 40 billion (more than double the USD 15 billion valuation in January 2021). The funds were earmarked for strengthening the company’s balance sheet and to be invested in expanding its presence in the US, product development to launch more marketplace solutions, and develop Web3 solutions.