PayRetailers, a FinTech payment specialist, announced the acquisition of two online payments platforms, Chile’s Paygol and Colombia’s Pago Digital. The deals strengthen PayRetailers’ depth as it moves to realise the potential of e-commerce payments across Latin America.
Paygol and Pago Digital fit PayRetailers’ acquisition criteria, providing innovative tech and financial product suites, a clear client focus, robust financial safeguards and cross border payment capabilities — alongside presence within, and understanding of, local markets.
What do Paygol and Pago bring to PayRetailers’ portfolio?
Paygol and Pago Digital support a comprehensive range of payment options. These capabilities further strengthen PayRetailers’ card processing capabilities across Latin America.
Paygol is the official sponsor of Copa Chile Easy 2022; and Pago Digital has announced its sponsorship of Colombia’s premier football competition – the BetPlay DIMAYOR League.
LATAM has suffered from a disjointed B2B e-commerce payments that sees merchants forced to piece together services across multiple countries, jurisdictions and currencies.
PayRetailers is simplifying B2B e-commerce through a single LATAM online platform. The strategy is to identify, select and acquire the perfect candidate companies — combining local innovation and insight, pan-regional reach and world class FinTech investment.
PayRetailers founder and CEO, Juan Pablo Jutgla, said: “Communities, companies and individuals are being transformed by e-commerce. Hyper-local access to vast global markets will generate investment, jobs, education and opportunity for millions across our continent.”
“Both these two, Pago Digital and Paygol, share our vision of democratising financial inclusion and clearly demonstrate a commitment to local communities through sponsorship.”
“Today’s acquisitions take us closer to a seamless, barrier-free and open e-commerce payments platform that will bring financial inclusion from Tierra del Fuego to Punta Gallinas.”
What does deal offer to Paygol and Pago portfolios?
The acquisition brings Paygol and Pago Digital access to PayRetailers’ extensive FinTech know-how, marketing resources and financial investment to grow at scale.
Paygol CEO Carlos Varas, said, “Paygol believes 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 are now excited to move to the next level with PayRetailers: sharing technologies, expertise and insights to bring our customers ever-greater opportunity.”
How does this deal solve the region’s payment hardships?
Royal Park Partners acted as exclusive strategic and financial advisor to PayRetailers on the Pago Digital acquisition. As a part of its strategic growth roadmap, PayRetailers plans to expand its presence in LATAM. This includes deepening existing networks in key LATAM countries – alongside ambitions to grow into Central America and the Caribbean.
PayRetailers’ mission to simplify e-commerce payments has the potential to catalyse a currently under performing market. While LATAM e-commerce is growing rapidly, reaching an estimated US$85 billion in 2021, it is dwarfed by regions with integrated payment systems such as Europe (around US$530 billion) and the US & Canada (around US$500 billion).
Juan Pablo Jutgla concluded: “PayRetailers’ mission is to realise LATAM’s vast e-commerce potential. This drives us as we acquire the right companies to deliver the right capabilities. As Paygol and Pago Digital bring us a powerful new presence in Chile and Colombia, we are ideally placed to simplify e-commerce — for seamless customer payment experiences.”
