Purse Acquires ReachFive in Expansion Move

Published about 1 month ago

Purse, a significant player in European payment orchestration, has announced the acquisition of ReachFive, marking its first external growth operation since its founding in Lille in 2021.

Purse’s Role in Payment Orchestration

Purse’s platform personalizes the digital payment experience while simplifying its implementation for merchants like Auchan, Decathlon, and Vertbaudet. It offers these merchants a comprehensive solution to optimize payment performance. The platform, backed by SaaS technology and a team of payment experts, collaborates with over 80 international payment partners. This network allows Purse to manage the entire payment process from one interface, maximizing conversion and guaranteeing optimal transaction acceptance.

About ReachFive and Its Expertise

ReachFive, established in 2015, is a significant force in customer identity and access management (CIAM). Its platform is engineered to enhance the online user experience by offering simplified, secure access to merchant services across multiple touchpoints. With robust consent management and customer data protection, ReachFive is committed to a seamless user experience and regulatory compliance.

The platform allows e-tailers to create password-free customer accounts using phone numbers, email addresses, or social network accounts. This not only enriches the customer journey but also improves the conversion rate.

A Natural Partnership

ReachFive will retain its team of 40 CIAM experts, including founder and CEO Jérémy Dallois. The partnership with Purse, according to Dallois, aligns with their ambition to personalize the shopping experience. The company’s innovative services enable consumers to control their online experience and identity, depending on their equipment, channel, or habits.

Shared Vision for Optimal Customer Experience

As part of the acquisition, Purse will establish a branch in ReachFive’s Paris offices, and ReachFive in Purse’s Lille offices. Rami Salem, CEO of Purse, expressed excitement about the union, viewing it as a milestone for Purse. He acknowledged the talent of the ReachFive teams and founder, expressing anticipation for shared growth. Salem emphasized the shared commitment to deliver an optimal customer experience, which their joint customers will now benefit from.