Paysafe Completes Acquisition of PagoEfectivo
Summary
For Paysafe, the investment gives it a strategic foothold in Latin America, one of the world’s fastest-growing online markets where merchants and consumers alike are demonstrating an increased appetite for alternative payment methods and open banking solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. In 2018, the paysafecard team developed Paysafecash allowing customers to shop online first and then pay securely for their purchases with cash at convenient, nearby payment points. Formerly a subsidiary of Grupo El Comercio, the payments platform is a market leader in the provision of eCash and open banking solutions in Latin America. This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.