Paysafe Pay Later previously operated under the name Payolution, and it provided white-label invoice and instalment payment solutions for online merchants and brick-and-mortar retailers, such as Decathlon, Teufel, and Schuhcenter.de.
In addition, the CEO of Paysafe Pay Later and the entire team will join Heidelpay. Terms of the deal were not disclosed, however, it will allow Paysafe to focus on its core business of payment processing, digital wallets, and e-cash. The agreement is expected to close by Q3, so the two companies will operate independently until then.
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