GlobalCollect, an e-payment service provider, has acquired Sub1, a Latin America-based payment processor as part of GlobalCollects expansion plans in the region.
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Sub1 is headquartered in Buenos Aires and holds a 70% market share in Argentinas payment processing market, but also has a distribution network in other Latin American countries.
The acquisition will give GlobalCollect instant access into Brazil, Chile, Mexico, Colombia and Peru, as well as other countries.
The plan is to offer e-commerce payment services through local acquirers. The Latin American market is highly lucrative for payment providers.
Read our country surveys and special reports to find out why.
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