Paysafe to acquire PagoEfectivo from Grupo El Comercio for c. $109m.

Paysafe, a specialized payments platform, agreed to acquire PagoEfectivo, an alternative payments platform, from Grupo El Comercio, an independent media company, for c. $109m. “I am thrilled we are announcing this acquisition. The APM market in Latin America is a thriving one and PagoEfectivo is a market leader in eCash and online banking solutions and the team also brings deep banking relationships and 140k distributor partnerships across Peru and Ecuador. We continue to see increasing demand from online merchants wanting to integrate the full payments offering into their check-out, be that seamless card, wallet, cash or bank transfer solutions – and to be able to do this internationally across multiple markets. Once integrated, we believe we will have the opportunity to add new revenues as we cross-sell to each other’s international merchant bases,” Udo Mueller, Paysafe’s eCash division CEO.