Paysafe Climbs 5%; Completes Acquisition Of PagoEfectivo

(RTTNews) - Shares of specialized payments platform Paysafe Limited (PSFE) are up more than 6% Wednesday morning after the company said it has completed the acquisition of Peruvian-based PagoEfectivo, an alternative payments platform.

Paysafe believes the acquisition of PagoEfectivo, along with recently-announced SafetyPay acquisition, which is expected to be completed later this year, will give a strategic foothold for Paysafe in Latin America.

"Once the SafetyPay transaction closes later in the year, the expanded Paysafe eCash business will be able to offer eCash and open banking solutions in over 60 countries with over one million distribution points," the company said.

PSFE, currently at $8.97, has been trading in the range of $8.06- $19.57 in the last one year.