LatAm Evertec acquires commercial payments enabler PlacetoPay
Evertec, the Puerto Rico-headquartered firm which offers transaction processing and business management, has acquired Colombia-based commercial payments enabler PlacetoPay for an undisclosed amount.
The acquisition is a gateway for Evertec to tap Colombia and Ecuador
The acquisition acts as a gateway for Evertec to “strengthen” its presence across markets in Colombia and Ecuador where PlacetoPay – known also as EGM Engineering Without Borders – processes transactions for more than 900 businesses.
The Puerto Rican acquirer expects its revenues, which currently stand at an annual close of $475 million, will increase as a result.
With a focus on its digital payment solution, Evertec’s vice president of products and marketing Guillermo Rospigliosi tells La Republica the acquisition of PlacetoPay will mean a “more integrated experience” for its customers.
Evertec’s CEO Mac Schuessler added in a company statement: “While this [the acquisition] will not materially impact our 2020 results, we anticipate this gateway will become our primary digital offering in the region and contribute to our Latin America growth strategy.”
In July 2017, Evertec acquired Chile-based lending company PayGroup which was also in line with the company’s Latin American investment strategy.
