Paysafe To Acquire Alternative Payments Firm PagoEfectivo For Undisclosed Sum

Payments platform Paysafe Ltd PSFE agreed to acquire Empresa Editora El Comercio S.A. subsidiary PagoEfectivo, a Peruvian alternative payments (APM) platform.
The financial terms of the transaction remain undisclosed.
PagoEfectivo CEO, Juan Fernando Villena, will join Paysafe under the arrangement.
It marks Paysafe's strategic foothold in Latin America, one of the world's fastest-growing online markets where merchants and consumers alike demonstrate an increased appetite for alternative payment methods and online banking solutions.
The transaction is likely to close by August end.
Paysafe held $1.6 billion in cash and equivalents as of Mar. 31.
Price action: PSFE shares traded higher by 3.2% at $11.14 on the last check Monday.