Paysafe, a leading specialized payments platform, announced the completion of its SafetyPay acquisition. SafetyPay is a leading payments platform operating primarily in Latin America that enables eCommerce transactions via a wide choice of open banking and eCash solutions. For Paysafe, this latest deal further strengthens its strategic foothold in Latin America, building on its recently announced acquisition of Peruvian payments platform, PagoEfectivo. Together the two acquisitions set Paysafe up to be the leading open banking and eCash solutions provider in Latin America, one of the world’s fastest-growing online markets. SafetyPay was founded in 2007 as an eCommerce payments platform with the mission to enable millions of consumers to use alternative payment methods (APMs), most notably bank transfers and eCash solutions, to make online purchases. It now has a presence in 11 Latin American countries and operates via an unparalleled network of banks, with over 90 percent bank coverage and over 180,000 cash collection points. It serves nearly 300 merchants primarily in the travel, entertainment, and digital goods industries.
Paysafe gains further scale in the fast-growing Latin American eCommerce market, where merchants and consumers alike are showing an increasing appetite to use eCash solutions to transact online. Further, with SafetyPay’s unrivalled network of bank relationships in Latin America, Paysafe is uniquely positioned to capture share of the nascent open banking market by integrating further Paysafe services and solutions including its digital wallet and gateway capabilities. Paysafe Limited a leading sspecialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of US $100 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.