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Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion | Fintech InShorts: Latest fintech news, analysis by experts

Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

BankingBusinessFinTech

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Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion

June 2, 2024

Acquisition Announcement: PayRetailers is set to acquire Transfeera, a Brazilian payment processing and bank data validation platform.
Operational Continuity: Transfeera will continue to operate normally post-acquisition.
Approval Requirements: The deal is pending approval from the Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil.
Strategic Importance: The acquisition will enhance PayRetailers’ position in Brazil, solidifying its status as a leading processor of high-complexity payments.
PayRetailers’ Expansion: The company recently received its Brazilian payment institution (PI) license and plans to double its Brazilian workforce by next year.
Previous Acquisitions: PayRetailers has previously acquired Paygol in Chile and Pago Digital in Colombia.
Future Plans: PayRetailers is planning further acquisitions to expand its global presence.
Transfeera’s Background: Founded in 2017 and based in Curitiba, Transfeera provides payment management and processing services, including bank account and Pix key validation.
Benefits for Transfeera: As part of PayRetailers, Transfeera will gain access to extensive expertise in developing and offering banking products.

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