Paysafe Group Limited, founded in 1996, one of the world's well-known specialized payments platforms, is expanding its influence. On the 16th of August, they announced that a definitive agreement to acquire SafetyPay was signed. The price is 441 million USD, and it is going to be provided in cash.
SafePay has significant coverage in Latin America and provides services in Europe as well. This platform was founded in 2007 and, for now, serves around three hundred merchants. This acquisition, along with an earlier agreement with a Peruvian payments platform PagoEfectivo, allows Paysafe to improve its positions in this part of the world. This is especially important, taking into account the fast growth of the online markets in Latin America.
For now, SafetyPay is available in more than forty countries and offers more than seventy payment types. Further work after the acquisition will make their eCash solution available in more than 60 countries around the world with more than one million distribution points.
The transaction is going to be closed in the fourth quarter of 2021.