Business

US-based EVO acquires Chilean fintech Pago Fácil targeting Latin America's expansion

Chilean regulator recently allowed the joint venture made in 2020, and now EVO began its operations in Chile through Pago Fácil's acquisition

Photo: Evo/Courtesy
  • The deal is expected to close in early June;
  • Pago Fácil offers digital payment solutions, including acquiring services, and e-commerce software integrations.

US-based EVO Payments, a payment technology integrations and acquiring solutions, announced the acquisition of Chilean e-commerce payment gateway Pago Fácil in partnership with EVO’s newly joint venture with Chilean Banco de Credito e Inversiones, Bci Pagos.

Chilean regulator recently allowed the joint venture made in 2020, and now EVO began its operations in Chile through Pago Fácil’s acquisition, in which the company says it delivers nearly 3,000 merchants to the joint venture.

According to the companies, Pago Fácil will expand its in-market integrated payment solutions and technology capabilities which will enhance EVO’s acquiring services and attract new customers.

Founded in 2018 by Cristian Tala Sanchez, Pago Fácil offers digital payment solutions, including acquiring services, and e-commerce software integrations. EVO says it will leverage Pago Facil’s gateway capabilities to enhance its business in Mexico as well as other markets across Latin America EVO enters in the future.

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“We are very pleased to announce the acquisition of Pago Fácil following the recent operational approval of our joint venture in Chile,” stated James G. Kelly, EVO’s CEO, in a press statement.

“E-commerce has experienced enormous growth globally during the pandemic, and we expect an enduring change in consumer spending habits. We are excited to leverage Pago Fácil in Chile and across Latin America as we look to expand our footprint in the region.”

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Eugenio von Chrismar, CEO of Bci, said this acquisition also demonstrates the company’s commitment to find spaces for collaboration and development of synergies between banks and fintechs in Chile.

The deal is expected to close in early June.

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