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April 8, 2022updated 02 May 2022 12:43pm

PayRetailers bolsters Latin American footprint with double acquisitions

Latin America-based payment processor PayRetailers has acquired Chile-based Paygol and Colombia-based Pago Digital, strengthening its foothold in the Latin American fintech payment segment.

Financial terms of the transactions were not disclosed.

Both Paygol and Pago Digital enables a range of payment options. The addition of these payment platforms is expected to boost PayRetailers’ card processing capabilities across Latin America.

The deals come as the firm seeks to identify and acquire companies with ‘local innovation and insight, pan-regional reach and world class FinTech investment’ to further grow its network in the region.

PayRetailers founder and CEO Juan Jutgla said: “Both Pago Digital and Paygol share our vision of democratising financial inclusion and clearly demonstrate a commitment to local communities through sponsorship.

“As Paygol and Pago Digital bring us a powerful new presence in Chile and Colombia, we are ideally placed to unify and simplify e-commerce — for seamless customer payment experiences across LATAM and beyond.”

As part of the deal, Paygol and Pago Digital will be provided access to PayRetailers’ marketing resources and financial investment to expand their businesses.

Paygol CEO Carlos Varas said: “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 LATAM.”

Pago Digital CEO William Talero said: “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.”

Last year, PayRetailers teamed up with European payment giant Worldline to accelerate growth and expansion into more Latin American countries.

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