Brazilian paytech Pagsmile acquired a 49% stake in Brazilian fintech a55, acquiring a55’s credit license. Pagsmile is in the process of acquiring 100% of a55, pending approval from the Brazilian Central Bank.
Pagsmile provides cross-border payment infrastructure that allows global companies to accept and process local payment methods across Latin America.
a55 holds a credit license, as a Sociedade de Crédito Direto (SCD), but currently offers a payment orchestration platform that helps companies process and manage payments across multiple payment networks and methods from a single system.
“This move reinforces our strategy of structured and responsible growth, expanding our presence in the financial ecosystem,” said Pagsmile’s co-founder and CEO Marlon Tseng.
Founded in 2017 as a spin-off from Chinese game publisher X-Cloud Game, Pagsmile processes over $800M transactions a month across 11 countries in Latin America.
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