PayRetailers has acquired Chile’s Paygol and Colombia’s Pago Digital as part of its aim to create a seamless, barrier-free and open ecommerce payments platform in Latin America.
The payments fintech said the acquisitions will give Paygol and Pago Digital access to its extensive knowledge, marketing resources and financial investment, all of which will help them to grow at scale.
For Spain-headquartered PayRetailers, the acquisitions expand its presence in Latin America, where it already has seven offices. The fintech also plans to move into Central America and the Caribbean.
PayRetailers aims to simplify B2B ecommerce through a single, intuitive and effective Latin America online payments platform. A key part of its strategy is to identify, select and acquire ideal candidate companies.
Paygol and Pago Digital “perfectly fit” the fintech’s acquisition criteria, providing innovative technologies and financial product suites, a clear customer focus, robust financial safeguards and cross-border payment capabilities, alongside extensive presences within local markets.
PayRetailers founder and chief executive officer Juan Pablo Jutgla said: “Countries, communities, companies and individuals are being transformed by ecommerce. 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.”
Carlos Varas, chief executive officer at Paygol, commented: “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 Latin America.”
William Talero, chief executive officer at Pago Digital, added: “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.”