Paysafe Accomplishes Acquisition of APM Platform PagoEfectivo

Paysafe, a leading specialized payments platform, yesterday announced that it has completed the acquisition of PagoEfectivo, a popular Peruvian alternative payments (APM) platform.

This aquisition was firstly announced in earlier August. According to the official press release, the PagoEfectivo aquisition gives Paysafe a strategic foothold in Latin America.

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.    

The integration process of combining PagoEfectivo with Paysafe’s eCash and Open Banking division under Udo Mueller will now commence with PagoEfectivo CEO, Juan Fernando Villena accepting a new leadership role within the division and the full team transferring over. 

As Fazzaco reported earlier, Paysafe has signed a definitive agreement to acquire SafetyPay​, an eCommerce payment platform, for USD 441 million in an all-cash transaction. The acquisition will enable Paysafe to further strengthen its strategic foothold in the fast-growing Latin America eCommerce market.