PayRetailers Acquires Chile’s Paygol and Colombia’s Pago Digital in Move to Unify $85 Billion LATAM E-Commerce Market
PayRetailers, the leading LATAM FinTech payment specialist, today announced the acquisition of two online payments platforms, Chile’s Paygol and Colombia’s Pago Digital. The two acquisitions strengthen PayRetailers’ breadth and depth as the company moves to realise the potential of e-commerce payments across Latin America.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220407005690/en/
Pago Digital, official sponsor of Liga BetPlay DIMAYOR & Paygol, official sponsor of #COPACHILEEASY (Photo: Business Wire)
Paygol and Pago Digital perfectly fit PayRetailers’ acquisition criteria, providing innovative technologies and financial product suites, a clear customer focus, robust financial safeguards (such as PCI compliance) and cross border payment capabilities — alongside extensive presence within, and understanding of, local markets.
Paygol and Digital Payment support a comprehensive range of payment options. These capabilities further strengthen PayRetailers’ card processing capabilities across Latin America. The two brands have invested in awareness: Paygol is the official sponsor of Copa Chile Easy 2022; and Pago Digital has announced its sponsorship of Colombia's premier football 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 piece together services across multiple countries, regulatory jurisdictions and currencies.
PayRetailers is simplifying B2B e-commerce through a single, intuitive and effective LATAM online payments platform. The strategy is to identify, select and acquire the perfect candidate companies — combining local innovation and insight, pan-regional reach and world class FinTech investment.
PayRetailers founder and CEO, Juan Pablo Jutgla, said: “Countries, communities, companies 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 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.”
Scaling LATAM providers
The acquisition brings Paygol and Pago Digital access to PayRetailers’ extensive FinTech know-how, marketing resources and financial investment to grow at scale.
Paygol CEO Carlos Varas, said, “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 said, “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.”
Royal Park Partners acted as exclusive strategic and financial advisor to PayRetailers on the Pago Digital acquisition.
As a part of its strategic growth roadmap, PayRetailers plans to expand its presence in LATAM. This includes deepening existing networks in key LATAM countries – alongside ambitions to grow into Central America and the Caribbean.
Realising LATAM potential
PayRetailers’ mission to unify and simplify e-commerce payments has the potential to catalyse a currently under performing 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 & Canada (around US$500 billion).
Juan Pablo Jutgla, concluded: “PayRetailers’ mission is simple: to realise LATAM’s vast e-commerce potential. This clarity of purpose drives us as we acquire the right companies at the right times to deliver the right capabilities. As Paygol and Pago Digital bring us a powerful new presence in Chile and Colombia, we are ideally placed to unify and simplify e-commerce — for seamless customer payment experiences across LATAM and beyond.”
Established in 2017, PayRetailers is a leading payment service company headquartered in Spain, with regional offices in Malta, Mexico, Argentina, Brazil, Chile, and Colombia.
Its flagship online payment platform is a unified solution integrating over 250 payment methods, including online payment alternatives using local currency, such as cash payments, credit/debit cards, online banking, QR codes, and a wide range of eWallets.
PayRetailers’ payment platform leverages API technology to connect Latin American consumers with international merchants, offering a seamless payment experience.
From the merchant’s perspective, the solution has the distinct advantage of eliminating the hurdles associated with integrating multiple acquirers and payment methods, setting up several local entities and managing pay-in and payout processors individually.
For more information, visit: www.payretailers.com
Paygol is an online payment platform which allows merchants to receive payments through a wide array of payment methods in a fast and easy way. We offer merchants a variety of local payment methods in Latin America that helps consumers to pay with the payment method they trust and know.
For more information, visit: www.paygol.com
About Pago Digital
Pago Digital is a payment gateway in Colombia that since 2011 has been in the market offering online payment processing solutions for emerging markets, supplying innovative and secure technology for online business. The company offers a wide range of options to pay in local currency, including cash payments, credit cards, online banking, and market specific popular solutions.
For more information, visit: www.pagodigital.co
About Royal Park Partners
Royal Park Partners is a global corporate finance advisory firm, supporting ambitious fintech companies with specialist transaction advice. The firm works in partnership with both prominent and emerging financial technology businesses, providing the expertise needed 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, trade sales and initial public offerings. Royal Park Partners is an appointed representative of Sapia Partners LLP, which is authorised and regulated by the Financial Conduct Authority.
For more information, please visit www.royalparkpartners.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IFF to Webcast Fireside Chat at Bernstein Strategic Decisions Conference on June 124.5.2022 23:15:00 EEST | Press release
IFF (NYSE: IFF) today announced that Chief Executive Officer Frank Clyburn will participate in a fireside chat at the Bernstein 2022 Strategic Decisions Conference on Wednesday, June 1, 2022 at 8 am ET. Investors may access the live webcast on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn. View source version on busine
HCL Commits $15 Million to Address Global Freshwater Insecurity24.5.2022 20:16:00 EEST | Press release
Water security has never been more urgent. With the global population set to hit 8.5 billion by 2030, pressure is increasing on the world’s limited supply of freshwater. By 2030, the global demand for water will have exceeded sustainable supply by 40%. In addition to immediate and dire consequences to people’s health and food production, a lack of access to clean water can limit economic growth by up to one-third, as well as have adverse effects on natural biodiversity and social fabrics. Governments and businesses must bring freshwater to the forefront of their strategies, and innovation will play a key role in their success. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005757/en/ People in the picture (from left) – Roshni Nadar Malhotra, CEO, HCL Group & Chairperson, HCL Technologies; Gim Huay Neo, Managing Director, Centre of Nature and Climate, World Economic Forum; William Kwende, Founder of Serious Shea; Inna M
Alcineo Deploys Verimatrix Threat Defense Technology To Protect SoftPOS Terminal Solutions for Banks, Payment Providers24.5.2022 18:45:00 EEST | Press release
Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced its Verimatrix Code Shield was deployed by La Ciotat, France-based Alcineo to protect its best-in-class SoftPOS solutions that are used by banks and payment solutions providers to offer Tap on Phone payments from any contactless card or mobile wallet. As part of Verimatrix’s threat defense offerings, Verimatrix Code Shield plays a pivotal role in progressing the certification process for Alcineo’s SoftPOS SDK, that serves transporation for fare inspection and ticket selling or retail for queue boosting. This SDK also facilitates charity donation and combines contactless payment and digital vouchers acceptance at restaurants. Verimatrix Code Shield works with Alcineo’s solutions that currently hold international payment scheme certifications such as Visa and Mastercard. Domestic payment networks are also supported. “Allowing pay
Linksys Brings Best in Class WiFi Performance to the Home with New Series of Affordable WiFi 6 Mesh Solutions24.5.2022 18:00:00 EEST | Press release
Linksys, a global leader in home and business WiFi networking solutions, today announced two new WiFi 6 mesh systems designed to deliver peak wireless performance for all at-home needs including remote working, streaming content, multi-user gaming and more. The Linksys Hydra 6 and Linksys Atlas 6 are Linksys’ newest entry-level dual-band products in the company's family of WiFi 6 mesh systems and come at the most affordable prices to date for the brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005310/en/ Linksys Atlas 6 (Photo: Business Wire) “There is an increased need for wireless connectivity that can handle the influx of devices on home networks, and deliver reliable, secure and private connections,” said Alan Cohen, VP of Marketing and Head of Product at Linksys. “Our mission is to connect everyone securely and through the launch of these systems, we provide our customers with two new options for fast speed,
Ferring Presents New Analyses of Efficacy, Safety and Microbiome Composition Data at DDW 2022 for RBX2660 its Investigational Microbiota-Based Live Biotherapeutic24.5.2022 18:00:00 EEST | Press release
Ferring Pharmaceuticals today announced the presentation of four abstracts at Digestive Disease Week (DDW) 2022 that further characterize RBX2660, a potential first-in-class microbiota-based live biotherapeutic studied to deliver a broad consortium of diverse microbes to the gut to reduce recurrent C. difficile infection (CDI) after antibiotic treatment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005036/en/ Two of these abstracts reviewed data from PUNCH™ CD clinical program and included subgroup analyses on the potential of RBX2660 to reduce CDI recurrence consistently and safely in adults regardless of their baseline characteristics. The first abstract (RBX2660 Versus Placebo to Reduce the Recurrence of Clostridioides Difficile Infection: Subgroup Analysis; Session number 892), an oral presentation, was a subgroup analysis of integrated data from randomized participants who received one dose of blinded treatment
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom