Paysafe To Acquire Alternative Payments Firm PagoEfectivo For Undisclosed Sum

  • Payments platform Paysafe Ltd PSFE agreed to acquire Empresa Editora El Comercio S.A. subsidiary PagoEfectivo, a Peruvian alternative payments (APM) platform.
  • The financial terms of the transaction remain undisclosed.
  • PagoEfectivo CEO, Juan Fernando Villena, will join Paysafe under the arrangement.
  • It marks Paysafe's strategic foothold in Latin America, one of the world's fastest-growing online markets where merchants and consumers alike demonstrate an increased appetite for alternative payment methods and online banking solutions.
  • The transaction is likely to close by August end.
  • Paysafe held $1.6 billion in cash and equivalents as of Mar. 31.
  • Price action: PSFE shares traded higher by 3.2% at $11.14 on the last check Monday.
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