Following this announcement, the transaction is still subject to approval by the Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil, and it represents a part of PayRetailers’ overall strategy of developing in the region. The company received a license from the Central Bank of Brazil to operate as a payment institution (IP) back in April 2024.
In addition, both financial institutions will focus on meeting the needs, preferences, and demands of customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry.
Throughout this deal, Transfeera is expected to continue to operate its services normally, while it will also become part of the PayRetailers group after the closing of the transaction is completed. This process is set to reinforce its technological capabilities and accelerate its overall development process.
Following this announcement, PayRetailers will focus on announcing new acquisitions on other continents in the future, which is set to consolidate its strategy of providing customers and clients with secure, efficient, and fast payment methods.
Transfeera will continue to provide platform and technology solutions for payment processing and bank data validation, aiming to remain aligned with the industry’s efficient and safe practices as an entity supervised by the Central Bank of Brazil. The company is set to gain access to a vast expertise in the development and offering of banking products, while also having the possibility to accelerate the process of building competitive advantages against the market. The deal aims to further grow its technological development, while also providing customers with safe and optimised products.
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