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Paysafe to Acquire PagoEfectivo
Payment solutions provider Paysafe has signed a definitive agreement to acquire the Peruvian alternative payments (APM) platform PagoEfectivo.
For Paysafe, this latest investment is a strategic foothold in Latin America, one of the world’s fastest-growing online markets where merchants and consumers alike are demonstrating an increased appetite for alternative payment methods and online banking solutions.
PagoEfectivo, a subsidiary of Empresa Editora El Comercio S.A., (Grupo El Comercio), is a market leader in Latin America in the provision of eCash and online banking payments that allow merchants to offer alternative payment methods (APMs) at the check-out, in turn enabling more consumers in the region, many of whom are underbanked, to transact online.
As part of the deal, the PagoEfectivo team, including CEO, Juan Fernando Villena, will join Paysafe and become part of the company’s growing global eCash and online banking solutions team.
“I am thrilled we are announcing this acquisition. The APM market in Latin America is a thriving one and PagoEfectivo is a market leader in eCash and online banking solutions and the team also brings deep banking relationships and 140,000 distributor partnerships across Peru and Ecuador. We continue to see increasing demand from online merchants wanting to integrate the full payments offering into their check-out, be that seamless card, wallet, cash or bank transfer solutions – and to be able to do this internationally across multiple markets. Once integrated, we believe we will have the opportunity to add new revenues as we cross-sell to each other’s international merchant bases,” Udo Mueller, CEO of Paysafe’s eCash division, said.
“This acquisition reinforces our strategy of investing in, and growing our core, specialized offering in payments processing, digital wallets, eCash and online banking solutions and gives us an important, strategic foothold in Latin America; a region which is expanding fast in eCommerce in general and specifically in the specialized vertical industries such as iGaming, travel, entertainment and digital goods which are very much our sweet spot. Our cloud-based technology stack and global enterprise relationships will only help accelerate PagoEfectivo’s very strong growth. We very much look forward to welcoming the PagoEfectivo team onboard,” Philip McHugh, CEO of Paysafe, said.
“The sale of PagoEfectivo has generated high levels of interest because of PagoEfectivo’s excellent performance over recent years as well as its future growth potential. This performance is the result of the continuous growth of eCommerce in this region as well as our Group’s ability to create compelling new digital brands and products. I’m excited for the PagoEfectivo team as they embark on this next stage of their journey, now as part of a specialized payments company that is investing in alternative payments around the world. On behalf of the entire Grupo El Comercio team, we wish the team all the very best for the future; I believe this sale will be a success story for all concerned,” Mariano Nejamkis, Grupo El Comercio’s General Manager of Press and Digital Businesses, said.
Estudio Rodrigo is serving as Paysafe’s legal and regulatory counsel on the acquisition. The transaction is expected to close by the end of August, subject to customary closing conditions. Until then, the two groups will continue to operate as independent organizations. The financial terms of the transaction were not disclosed.
Award-winning fast-betting content provider strengthens its position in the region with the latest hire
BETER, the in-demand provider of fast-betting content, data, and live streaming for esports and sports, has strengthened its team with the appointment of Juliana Querino as LatAm Business Development Manager.
Juliana, a seasoned business development specialist based in Brazil, has extensive experience in the Latin American iGaming industry. She has previously held various business development positions at Better Collective, Endorphina, Salsa Technology, and other companies. Her expertise was recognized by the G&M News platform, which included her in its Top 5 Women in the Industry 2024 list—highlighting women making significant contributions to the growth of iGaming in the region.
In her new role at BETER, she will drive the company’s expansion across Latin America, forging new partnerships with regional operators and aggregators, particularly in Brazil, where demand for BETER’s content continues to grow.
She will also drive BETER into new LatAm markets where the provider does not currently have a presence while managing relationships with existing partners to ensure they get the most out of the provider’s next-gen content offering.
Chuck Robinson, Chief Revenue Officer at BETER, said: “Latin America is a fast-moving market with opportunities opening up all the time. To capitalize on these, we need an exceptional specialist, and in Juliana, we have found exactly that. Her expertise and deep market knowledge make her a valuable addition to our team.
“We are already experiencing strong demand for our fast-betting products and solutions across the region. With Juliana on board, we can further identify key operators that would benefit from partnering with us, driving even greater growth.
“I’m delighted to welcome Juliana to the BETER team.”
Juliana Querino commented: “Fast-betting content has become essential for operators in Latin America and beyond, and I’m thrilled to join BETER in expanding awareness of its award-winning portfolio.
“BETER is renowned for its ESportsBattle and Setka Cup tournaments, which are already popular among bettors in LatAm. But our offering goes far beyond that, and I’m eager to showcase the full suite of products and solutions to operators from Brazil to Peru.”
“I look forward to helping BETER maximize the full potential of the LatAm market.”
BetBreak.org has published “When and How to Take a Time-Out from Sportsbetting,” a brand-new workbook designed to help readers understand how taking a break – of any duration – from sports betting can be transformational for their mental health, financial health, and relationships with friends and family.
“This workbook and self-study guide is for anyone who wants to explore their relationship with gambling and it’s especially for those who are wondering whether it might be time for a break from sports betting,” said addiction expert Dr. Jeffrey Reynolds.
The workbook includes information about how to know if you are ready to change, tips for curbing your sports betting if you aren’t ready to quit, setting SMART goals, and limiting access to the three things necessary to gamble. The guide also contains proven tools for managing cravings and urges, resources to regain control over your finances, strategies for dealing with guilt and shame as well as stress management tips.
“The BetBreak workbook is based on the science of behavior change and helps readers make the sustainable shifts in habits necessary to live life with more presence, focus, well-being and happiness,” Dr. Reynolds said.
SCCG Management, a global leader in gaming advisory, business development, and investment strategies, has secured membership to the Fantasy Sports & Gaming Association (FSGA). As the premier organization dedicated to advancing fantasy sports and sports betting, FSGA provides a collaborative environment where industry leaders, innovators, and pioneers shape the future of these rapidly growing sectors.
By joining FSGA, SCCG Management reinforces its commitment to staying at the forefront of industry trends, market developments, and emerging opportunities within fantasy sports and sports gaming. The partnership will allow SCCG to engage with key stakeholders, participate in thought leadership discussions, and contribute strategic insights to the evolving landscape of fantasy sports, sports wagering, and interactive gaming experiences.
With the fantasy sports and sports betting industries experiencing unprecedented growth and innovation, SCCG’s expertise in business development, technology integration, and investment strategy will bring valuable insights to the FSGA community. As a member, SCCG will actively participate in industry conferences, working groups, and networking events, including the upcoming 2025 FSGA Winter Conference, which serves as a hub for leaders, visionaries, and top executives shaping the future of fantasy sports and sports betting.
“FSGA is at the center of innovation in fantasy sports and gaming, and we are excited to join this influential community. At SCCG, we are always looking to align with industry leaders who are shaping the future of interactive sports entertainment. Through this partnership, we look forward to collaborating with fellow members, exchanging insights, and driving innovation across fantasy sports and sports betting,” Stephen Crystal, Founder & CEO of SCCG Management, said.
As SCCG continues to expand its global impact in fantasy sports, sports betting, and gaming technology, its membership in FSGA further solidifies its position as a trusted advisor and partner to the industry’s most innovative companies.
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