Paysafe Acquires APM Platform PagoEfectivo

Paysafe, a leading specialized payments platform, announced on Monday that it has entered into a definitive agreement to acquire PagoEfectivo, a popular Peruvian alternative payments (APM) platform.

The latest acquisition is expected to close by the end of August, subject to customary closing conditions. At that time, the two groups will continue to operate as independent organisations. Financial terms of the transaction are not being disclosed. 

According to the official press release, the new acquisition aims to expand the company's footprint in Latin America. As part of the deal, the PagoEfectivo team, including CEO, Juan Fernando Villena, will join Paysafe and become part of the company’s growing global eCash and online banking solutions team. 

PagoEfectivo, a subsidiary of Empresa Editora El Comercio S.A., is a market leader in Latin America in the provision of eCash and online banking payments. Founded in 2009, PagoEfectivo payment options are now used by millions of Peruvians as well as consumers in neighboring Ecuador where it also operates. Its solutions are particularly popular with merchants operating in the iGaming, digital goods, travel and eCommerce industries amongst others.    

As Fazzaco reported earlier, Paysafe has partnered with Bankable​, a global architect of 'banking-as-a-service' solutions, to launch a broad range of integrated, omnichannel banking services from Paysafe.