Multinational online payments company Paysafe (PSFE) has agreed to acquire SafetyPay in an all-cash deal worth $441 million. The transaction is expected to close in the fourth quarter of 2021. With this deal, Paysafe is poised to benefit from SafetyPay’s relationships with banks in Latin America. SafetyPay provides payments platform that allows E-commerce transactions through alternative payment methods. The company operates primarily in Latin America. As per the terms of the deal, SafetyPay team will join Paysafe’s expanding eCash and online banking solutions’ team. The enlarged Paysafe eCash business will be able to offer eCash and open banking solutions in more than 60 countries with over one million distribution points.
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Paysafe (NYSE:PSFE)
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