Brazil’s Central Bank has approved PayRetailers‘ acquisition of Transfeera, a fintech specialising in business payment solutions.
Central to this acquisition, PayRetailers gains access to Brazil’s widely used instant payment system, Pix. This move supports the company’s strategy to grow its presence in Brazil, building on its recent acquisition of a payment institution licence from the Central Bank of Brazil in April.
By tapping into Pix, PayRetailers will be able to offer more efficient, real-time payment services to Brazilian businesses.
In addition to strengthening its position in Brazil, PayRetailers will benefit from Transfeera’s expertise in payment processing and bank data validation. Founded in 2017, Transfeera has already built a strong reputation in Brazil’s fintech ecosystem, offering innovative solutions tailored to businesses’ payment needs.
Juan Pablo Jutgla, Founder and CEO of PayRetailers, commented: “Transfeera stands out as a technological and innovative powerhouse in Brazil, aligned with the best practices in risk management and security, being an entity supervised by the Central Bank of Brazil.”
Transfeera is also set to benefit from this agreement, gaining access to PayRetailers’ extensive network and infrastructure, which includes a broad range of payment methods across Latin America and Africa.
Fernando Nunes, Co-Founder and CEO of Transfeera, stated: “This positions us even more strongly to enhance our competitive advantages in the market. Together, we aim to accelerate our journey of technological innovation, offering innovative, secure, and efficient solutions to meet market demands.
“We are excited about the opportunities this acquisition brings and confident that Transfeera will become even more robust and competitive. Security, which has always been a fundamental pillar for Transfeera, now extends to new markets, such as sports betting.
“Our goal is to offer the same security and quality we’ve always provided to our partners and clients to these new sectors as well.”
The companies first revealed information about the deal in May, though this announcement confirms the acquisition.