PayRetailers digs further into Latin America with two acquisitions

abdelaziz Fathi

Barcelona-based payment service provider PayRetailers has bolstered its commitment to Latin America with the acquisition of two online payments platforms, Chile’s Paygol and Colombia’s Pago Digital.

The premier payment platform said the dual takeover strengthens its breadth and depth as the company moves to capture the potential of e-commerce payments across a region with more than 600 million people. According to the growth rates, e-commerce transactions in Latin America are projected to exceed $160 million in 2024.

With innovative technologies and financial product suites, as well as a clear customer focus, Paygol and Pago Digital fit PayRetailers’ acquisition criteria. The transactions also power PayRetailers’ card processing capabilities across Latin America as both brands have extensive presence and understanding of local markets.

Paygol and Digital Payment support a comprehensive range of payment options. They enable merchants to operate in the region with payment gateways that streamline the process of receiving and making payments quickly and securely. The two companies also cover the demand for cash and online payments in their respective regions, as well as payments with cards such as VISA, MasterCard, American Express, MAGNA, JUMBO and many more.

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

Paygol CEO Carlos Varas, added: “Paygol believes passionately in the power of local knowledge to bridge international borders. It’s an understanding that we share with PayRetailers as we now move forward together — to truly unleash the potential of e-commerce businesses across LATAM.”

Pago Digital CEO William Talero also notes: “Pago Digital was founded on a vision of simple and accessible online payments. We’ve come a long way in 10 years and are now excited to move to the next level with PayRetailers: sharing technologies, expertise and insights to bring our customers ever-greater opportunity.”

PayRetailers helps brokers enter the LATAM markets

With offices in Europe and Latin America, operating in more than 25 countries, PayRetailers offers different international industries a combination of tailor-made methods.

Ever since its founding in 2017, the firm decided to put down deep roots around the continent and currently has a physical presence in most of Latin American markets with expansion to other jurisdictions underway.

The locally embedded approach allows the firm to be highly responsive to varied payments preferences of consumers in this highly diverse part of the world and can help its clients by providing a seamless payments solution covering more than 250 local payment methods in all of the region’s currencies, ranging from in-store cash payments to bank transfers and the rapidly growing number of APMs.

Being among popular online payment services in the region, PayRetailers has a network of local brick and mortar offices in multiple Latin American countries with operations spanning population heavy countries, such as Chile, Peru, Mexico, Brazil and Argentina.

PayRetailers also helps FX brokers to enter the LATAM markets with a diverse suite of payment options through a single integration.

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