Fintech & Ecommerce

Paysafe acquires e-commerce payments platform

Paysafe offers over 70 payment methods in over 40 currencies worldwide

Paysafe

Paysafe acquires e-commerce payments platform. Source: shutterstock.com

According to Ecommerce News, London-based Paysafe has signed an agreement to acquire SafetyPay for about €375 million in an all-cash transaction.

SafetyPay, founded in 2007, is an e-commerce payments platform that enables online transactions via several open banking and electronic cash solutions. It operates primarily in Latin America but with additional coverage in Europe.

The payments platform operates via a network of banks, with over 90 percent bank coverage, and over 180,000 cash collection points. It serves nearly 300 merchants primarily in the travel, entertainment, and digital goods industries.

Paysafe considers this acquisition as a great way to strengthen its presence in Latin America, after it recently announced the acquisition of the Peruvian payments platform PagoEfectivo.

Besides, Paysafe wants to enable businesses and consumers to transact seamlessly with the help of payment processing, digital wallets, e-cash and online banking solutions.

We’ve reported that South Korea’s e-commerce market to exceed $240 billion in 2025.

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