SafetyPay is a payments platform that enables ecommerce transactions via Open Banking and e-money solutions, operating primarily in Latin America. According to the official press release, this latest deal is supposed to strengthen Pasysafe’s foothold in Latin America, building on its recently announced acquisition agreement with PagoEfectivo.
The SafetyPay transaction is expected to close in the fourth quarter of 2021. Paysafe’s banks have provided financing commitments and Paysafe intends to refinance these bridge facilities with new debt contemporaneously with the completion of the acquisition.
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