PayRetailers acquires Chilean company Paygol and Colombian company Pago Digital in its bid to merge the $85 billion Latin American e-commerce market

PayRetailers founder and CEO, Juan Pablo Jutgla announces the acquisition of two online payments platforms, Chile’s Paygol and Colombia’s Pago Digital (Graphic: Business Wire)

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Paygol and digital payment perfectly fit PayRetailers’ criteria as they offer innovative technologies and financial product suites, a strong customer focus, solid financial safeguards (such as PCI compliance) and cross-border payment capabilities — alongside extensive presence in the region and understanding of local markets.

Paygol and Pago Digital support an extensive range of payment options and these capabilities further strengthen PayRetailers’ card processing capabilities in Latin America. The two brands have invested in public relations: Paygol is official sponsor of the Copa Chile Easy 2022 and Pago Digital has its sponsorship of the first Colombian soccer league, the BetPlay DIMAYOR Leagueannounced.

Simplification of Latin American payments

To date, Latin America suffers from a disjointed B2B e-commerce payment environment that forces e-merchants to stitch together services across countries, jurisdictions and currencies.

PayRetailers simplifies B2B e-commerce through an intuitive and effective Latin single online payments platform. The strategy is to identify, select and acquire the perfect corporate candidates — who combine local innovation and insight, pan-regional reach and excellent FinTech investment.

Juan Pablo Jutgla, Founder and CEO of PayRetailers stated, “Countries, communities, businesses and individuals are being transformed by e-commerce. Hyper-local access to vast international markets will lead to new investments, create new jobs and apprenticeships, and create new opportunities for millions of people across our continent.”

“Pago Digital and Paygol share our vision of democratizing financial inclusion and show a very clear commitment to local communities through sponsorship. The current acquisitions bring us closer to a seamless, accessible and open e-commerce payments platform that will enable financial inclusion from Tierra del Fuego to Punta Gallinas.”

Scaling Latin American Service Providers

The acquisition gives Paygol and Pago Digital access to PayRetailers’ extensive expertise, marketing resources and financial investments to grow at the right scale.

Paygol CEO, Carlos Varas, stated: “Paygol strongly believes in the power of local market knowledge to transcend international borders. It is an understanding we share with PayRetailers, as we now move forward together — to truly unlock the potential of e-commerce in Latin America.”

William Talero, CEO of Pago Digital, explained: “Pago Digital was founded on the vision of simple and accessible online payments. We’ve come a long way over the past decade and we’re excited to take PayRetailers to the next level: sharing technology, expertise and insights to deliver ever-increasing opportunities for our customers.”

Royal Park Partners acted as exclusive strategic advisor and financial advisor to PayRetailers as part of the acquisition of Pago Digital.

As part of its strategic growth roadmap, PayRetailers aims to expand its presence in Latin America. This also includes the expansion of existing networks in important Latin American countries – in addition to further objectives to also grow in Central America and the Caribbean.

Unlocking Latin American potential

PayRetailers’ mission to unify and simplify e-commerce payments has the potential to catalyze a currently underperforming market. While Latin American e-commerce is growing rapidly and in 2021 a volume of 85 billion US dollars reached, it is used by regions with integrated payment systems, such as Europe (about 530 billion US dollars), USA and Canada (roughly $500 billion) eclipsed.

Juan Pablo Jutgla concluded, “PayRetailers’ mission is simple: Realize the vast Latin American e-commerce potential. This clear objective drives us, acquiring the right companies at the right time to provide the right opportunities. With Paygol and Pago Digital giving us a powerful new presence in Chile and Colombia, we are ideally placed to unify and simplify e-commerce — for seamless customer checkout experiences in Latin America and beyond.”

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