Paysafe finalises acquisition of SafetyPay

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/02/Paysafe.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>With its acquisition, <a target="_blank" href="https://www.leaprate.com/tag/paysafe/" rel="noopener">Paysafe</a> gains further access in the fast-growing Latin American eCommerce market, where merchants and consumers have growing interest in using use eCash solutions to transact online. With SafetyPay’s network of bank relationships in Latin America, Paysafe is positioned to take part in the open banking market through integrating further its services and solutions including its digital wallet and gateway capabilities.</p>
<p>Following the completion of the deal, SafetyPay’s entire team will transfer in Paysafe’s eCash and open banking solutions team. SafetyPay’s CEO, Gustavo Ruiz Moya, becomes CEO, eCash for Latin America and Global Head of Open Banking. He will report directly to Paysafe eCash CEO, Udo Mueller.</p>
<p>Philip McHugh, Paysafe’s CEO, commented:</p>
<div><img aria-describedby="caption-attachment-441354" class=" wp-image-441354" src="https://www.leaprate.com/wp-content/uploads/2021/08/Philip-McHugh.jpg" alt="Philip McHugh, Paysafe" width="113" height="97" srcset="https://www.leaprate.com/wp-content/uploads/2021/08/Philip-McHugh.jpg 300w, https://www.leaprate.com/wp-content/uploads/2021/08/Philip-McHugh-245×209.jpg 245w" sizes="(max-width: 113px) 100vw, 113px" /><p>Philip McHugh</p></div>
<blockquote><p>We’re very excited by what SafetyPay adds to our group as part of our global real-time banking solutions. We believe that together we will find extensive cross-sell opportunities for online merchants who are looking to expand into new markets. We also see huge potential to offer SafetyPay solutions to some of our largest existing customers, particularly those looking for growth in fast-growing Latin America.</p></blockquote>
<p>Gustavo Ruiz Moya, SafetyPay’s CEO, added:</p>
<blockquote><p>Becoming part of the Paysafe Group will help us build on SafetyPay’s leadership to date and accelerate our future growth. It’s also an immense opportunity being able to join forces with PagoEfectivo in Latin America, as well as the wider eCash team, to exploit the many opportunities we see as the nascent open banking ecosystem continues to open up across the continent.</p></blockquote>
<p>Paysafe signed the $441 deal to acquire <a target="_blank" href="https://www.leaprate.com/payments/paysafe-signs-a-441-deal-to-acquire-safetypay/" rel="noopener">SafetyPay back in August.</a></p>
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