PayRetailers has accelerated its expansion efforts in Latin America with the opening of new offices in Peru.

The Spain-headquartered payment processor said its new offices would help it move closer to its customer base and consolidate its presence in the region.

The move is also expected to enable the firm to serve strategic markets across the continent and collaborate with additional financial service providers to provide differentiated digital experiences to its clients.

The latest development follows the firm’s acquisition of two online payment platforms, Chile-based Paygol and Colombia-based Pago Digital.

The acquisitions significantly expanded PayRetailers’ Latin American foothold while positioning it to tap into the region’s e-commerce payments segment.

PayRetailers is currently focusing on expanding its team and technology to develop an inclusive payments infrastructure.

The firm intends to strengthen verticals such as digital services and e-commerce, with a focus on expanding its customer base and product suite.

Founded in 2017, PayRetailers provides a range of payment solutions that allow e-commerce companies to accept online payments through a single API integration.

the firm has teams of over 20 different nationalities and operations across more than 15 countries in Europe and Latin America.

In October last year, PayRetailers and European payment giant Worldline struck a partnership to accelerate their growth and expansion into more countries across the Latin American region.

Meanwhile, payment technology firms are strengthening their focus on the Latin American market, which is said to be home to around 300 million digital shoppers.

In January, Canadian payments firm Nuvei rolled out a new capability enhancement to help international merchants accept local payment methods in 10 Latin American countries.