SafetyPay offers e-commerce transactions through open banking and ecash solutions in 11 Latin American countries.
This is the latest Latin American acquisition for Paysafe, following its recent deal to acquire Peru-based Pago Efectivo.
The acquisition of SafetyPay allows Paysafe to expand its market-leading payment platform and become the de facto open banking solution for Latin America.
By combining SafetyPay and Pago Efectivo with Paysafe’s existing solutions in processing, digital wallets, and eCash, the company aims to become the true market leader in the region and provide merchants with unique and powerful combinations to grow their business.
Once the acquisition is complete, Paysafe will offer ecash solutions in over 60 countries.
Paysafe’s chairman of the board of directors, Bill Foley, is pleased to see SafetyPay and Pago Efectivo become part of the company and expand their payment solutions across card payment processing, digital wallets, ecash, and online banking payments.
There are exciting synergies in key industry verticals like iGaming that Paysafe aims to capitalize on.
Paysafe went public in March after merging with special purpose acquisition company Foley Trasimene Acquisition Corporation.
