Spanish payments firm PayRetailers scoops up two LatAm e-commerce platforms
Spanish paytech PayRetailers has acquired two online payments platforms – Chile’s Paygol and Colombia’s Pago Digital.
The deals are intended to shore up PayRetailer’s card processing and e-commerce capabilities across the Latin America (LatAm) region, with the paytech looking to leverage each company’s presence within their respective local markets.
PayRetailer’s online payment platform is a unified solution integrating more than 250 payment methods, including online payment alternatives using local currency such as credit and debit cards, online banking, QR codes and a wide range of e-wallets.
The firm is attempting to simplify B2B e-commerce in the LatAm region. Currently, online merchants must navigate services pieced together across multiple countries, currencies and jurisdictions.
In order to catch up with the unified payments markets in Europe and North America, PayRetailers is pursuing a strong M&A strategy.
Founder and CEO Juan Pablo Jutgla says: “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.”
Established in 2017, PayRetailers is headquartered in Spain, with regional offices in Malta, Mexico, Argentina, Brazil, Chile and Colombia.
Paygol is an online payment platform which allows merchants to receive payments through a wide array of payment methods.
Pago Digital is a payment gateway that offers online payment processing solutions for emerging markets.