PayRetailers Acquires Chile’s Paygol and Colombia’s Pago Digital in a Move to Unite the $85 Billion LATAM E-Commerce Market

BARCELONA, Spain–(BUSINESS WIRE)–Apr. 7, 2022–

PayRetailers, the leading FinTech payment specialist in LATAM, today announced the acquisition of two online payment platforms, the Chilean Paygol and the Colombian Pago Digital. The two acquisitions reinforce the breadth and depth of PayRetailers as the company moves to realize the potential of e-commerce payments throughout Latin America.

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The founder and CEO of PayRetailers, Juan Pablo Jutgla, announces the acquisition of two online payment platforms, the Chilean Paygol and the Colombian Pago Digital (Graphic: Business Wire)

Paygol and Digital Payment are a perfect fit for PayRetailers’ acquisition criteria, offering innovative technologies and financial product suites, a clear customer focus, strong financial insurance (such as PCI compliance), and cross-border payment capabilities. , in addition to a wide presence in local markets and a great knowledge of them.

Paygol and Digital Payment support a wide range of payment options. These capabilities further strengthen PayRetailers’ card processing capabilities throughout Latin America. The two brands have invested to inform: Paygol is the official sponsor of the Copa Chile Easy 2022; and Pago Digital has announced its sponsorship of the most important soccer competition in Colombia – the BetPlay DIMAYOR league.

Simpler payments in LATAM

To date, LATAM has suffered in a disjointed B2B e-commerce payments environment that forces online merchants to bundle services in different countries, jurisdictions, and currencies.

PayRetailers is simplifying B2B electronic commerce through a unique, intuitive and efficient online payment platform in LATAM. The strategy is to identify, select and acquire the ideal candidate companies, combining local innovation and knowledge, pan-regional reach and world-class FinTech investment.

PayRetailers Founder and CEO Juan Pablo Jutgla said: “Countries, communities, businesses and individuals are being transformed by e-commerce. Hyper-local access to vast international markets will generate new investment, jobs, education and opportunities for millions of people across our continent.”

“Both Pago Digital and Paygol share our vision of democratizing financial inclusion and clearly demonstrate a commitment to local communities through sponsorship. Today’s acquisitions bring us closer to a seamless, barrier-free and open e-commerce payments platform that will lead financial inclusion from Tierra del Fuego to Punta Gallinas.”

Growth of LATAM providers

The acquisition gives Paygol and Pago Digital access to PayRetailers’ extensive FinTech knowledge, as well as marketing resources and financial investment to grow on a large scale.

Paygol CEO Carlos Varas said: “Paygol passionately believes in the power of local knowledge to cross international borders. It’s an understanding we share with PayRetailers as we now move forward together to truly unlock the potential of e-commerce businesses.” throughout LATAM.”

Pago Digital CEO William Talero said: “Pago Digital was founded on a vision of easy and accessible online payments. We’ve come a long way these 10 years and now we’re excited to take PayRetailers to the next level: we’re going to share technologies, experience and knowledge to offer our clients ever better opportunities.”

Royal Park partners acted as exclusive strategic and financial advisors to PayRetailers in the acquisition of Pago Digital.

As part of its strategic growth roadmap, PayRetailers plans to expand its presence in LATAM. This includes deepening existing networks in key LATAM countries, along with the ambition to grow in Central America and the Caribbean.

Harnessing the potential of LATAM

PayRetailers’ mission to unify and simplify e-commerce payments has the potential to boost a market that is currently underperforming. While e-commerce in LATAM is growing rapidly, reaching an estimated $85 billion in 2021, it was slowed down by regions with integrated payment systems such as Europe (around $530 billion) and the United States & Canada (around $500 billion).

Juan Pablo Jutgla concluded: “PayRetailers’ mission is simple: to realize LATAM’s enormous e-commerce potential. This clarity of objectives drives us to acquire the right companies at the right time to offer the right capabilities. Such as Paygol and Pago Digital They give us a powerful new presence in Chile and Colombia, we are ideally positioned to unify and simplify e-commerce to deliver seamless customer payment experiences across LATAM and beyond.”

Final

The original source language text of this release is the official authorized version. Translations are provided as adaptation only and must be checked against the source language text, which is the only version of the text that will have legal effect.

View the original version on businesswire.com:https://www.businesswire.com/news/home/20220407005544/en/

CONTACT: Ryan Carraro

Ryan@milkandhoneypr.com

020 3637 7310

Keyword: spain europe chile south america colombia

Industry Keyword: software finance banking professional services technology online retail mobile/wireless retail

SOURCE: PayRetailers

Copyright Business Wire 2022.

Pub: 04/07/2022 16:41/Disc: 04/07/2022 16:41

http://www.businesswire.com/news/home/20220407005544/en

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