The acquisitions reinforce PayRetailers’ position as the leading FinTech payments specialist for Latin America and efforts to simplify B2B e-commerce across the region.
BARCELONA, Spain, April 07, 2022–(BUSINESS WIRE)–PayRetailers, LATAM FinTech’s leading payment specialist, today announced the acquisition of two online payment platforms, Chile’s Paygol and Colombia’s Pago Digital. The two acquisitions strengthen PayRetailers’ reach and depth as the company moves to harness the potential of e-commerce payments in Latin America.
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Digital Payment, Official Sponsor of Liga BetPlay DIMAYOR & Paygol, Official Sponsor of #COPACHILEEASY (Photo: Business Wire)
Paygol and Digital Payment are a perfect fit for PayRetailers’ acquisition criteria, providing innovative technologies, financial products, a clear customer focus, strong financial guarantees (such as PCI compliance) and cross-border payment capabilities, along with a broad footprint. and understanding of local markets.
Both companies support a wide range of payment options. These solutions further strengthen PayRetailers’ card processing capabilities in Latin America. Likewise, the brands have invested in notoriety: Paygol is the official sponsor of the Copa Chile Easy 2022; and Digital Payment has announced the sponsorship of the main Colombian soccer competition: the BetPlay DIMAYOR League.
Simplifying LATAM payments
To date, LATAM has suffered from a disjointed B2B e-commerce payments environment that sees online merchants forced to join services across multiple countries, regulatory jurisdictions, and currencies.
PayRetailers is simplifying B2B electronic commerce through a unique, intuitive and effective online payment platform for LATAM. The strategy consists of identifying, selecting and acquiring the perfect candidate companies, combining innovation and local knowledge, reaching a regional level 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 opportunity for millions 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 transparent, barrier-free and open e-commerce payments platform that will bring financial inclusion from Tierra del Fuego to Punta Gallinas”.
Scaling LATAM providers
The acquisition gives Paygol and Pago Digital access to PayRetailers’ extensive technical knowledge, marketing resources and financial investment to grow to scale.
Paygol CEO Carlos Varas said: “Paygol passionately believes in the power of local knowledge to bridge international borders. It’s an understanding we share with PayRetailers as we move forward together to truly unlock the potential of e-commerce businesses in all Chile”.
Pago Digital CEO William Talero said: “Pago Digital was founded on a vision of simple and accessible online payments. We’ve come a long way in 10 years and now we’re excited to take PayRetailers to the next level: sharing technologies, experience and knowledge to provide our clients with ever-increasing opportunities.
Royal Park Partners acted as exclusive financial and strategic advisor 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.
Discovering the potential of LATAM
PayRetailers’ mission to unify and simplify e-commerce payments has the potential to catalyze a currently underperforming market. While LATAM e-commerce is growing rapidly, reaching an estimated US$85 billion in 2021, it is dwarfed by regions with integrated payment systems such as Europe (around US$530 billion) and the US and Canada ( about $500 billion).
Juan Pablo Jutgla, concluded: “PayRetailers’ mission is simple: to realize LATAM’s vast e-commerce potential. This clarity of purpose drives us as we acquire the right companies at the right time to deliver the right capabilities. Like Paygol and Digital Payment give us a powerful new presence in Chile and Colombia, we are ideally positioned to unify and simplify e-commerce with seamless customer payment experiences in LATAM and beyond.”
Established in 2017, PayRetailers is a leading payment services company based in Spain with regional offices in Malta, Mexico, Argentina, Brazil, Chile and Colombia.
Its flagship online payment platform is a unified solution that integrates more than 250 payment methods, including online payment alternatives that use local currency, such as cash payments, credit/debit cards, online banking, QR codes and a wide range of electronic wallets.
PayRetailers’ payment platform leverages API technology to connect Latin American consumers with international merchants, offering a seamless payment experience.
From a merchant perspective, the solution has the distinct advantage of removing the hurdles associated with integrating multiple acquirers and payment methods, setting up multiple on-premises entities, and managing payment and payment processors individually.
For more information visit: www.payretailers.com
Paygol is an online payment platform that allows merchants to receive payments through a wide range of payment methods quickly and easily. We offer merchants a variety of local payment methods in Latin America that help consumers pay with the payment method they trust and know.
For more information visit: www.paygol.com
About Digital Payment
Pago Digital is a payment gateway in Colombia that since 2011 has been in the market offering online payment processing solutions for emerging markets, providing innovative and secure technology for online businesses. The company offers a wide range of options for paying in local currency, including cash payments, credit cards, online banking and popular market-specific solutions.
For more information visit: www.pagodigital.co
About Royal Park Partners
Royal Park Partners is a global corporate finance advisory firm that supports ambitious Fintech companies with specialist transaction advice. The firm works in partnership with prominent and emerging fintech companies, providing the expertise to enable entrepreneurs, founders, and funds to build the future of finance.
Royal Park Partners provides advice in the areas of corporate finance, capital raising, private equity, business sales and initial public offerings. Royal Park Partners is a designated representative of Sapia Partners LLP, which is authorized and regulated by the Financial Conduct Authority.
For more information visit www.royalparkpartners.com
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