Global payment processor for Latin America, PayRetailers, has expanded its payment solution, in line with its international ambitions, following the acquisition of the next-generation orchestration platform headquartered in Amsterdam, Celeris.
Following the acquisition, PayRetailers will now have a stronger in-house unified payment platform, which includes global credit card processing, a critical component of the region’s payments landscape, and multi-region orchestration. The payment processor will now further its capabilities to simplify back-end processes such as reporting, financial consolidation and reconciliation for merchants and partners.
By combining intelligent payment routing, automated reconciliation and real-time analytics, the platform offers improved authorisation rates across multiple payment providers. This enables PayRetailers’ partners to optimise payment conversion, improve cost-efficiency, and ultimately boost sales.
The integration further positions PayRetailers as a global partner of choice for regulated industries, while also laying the foundation for expansion into new verticals and new geographies across LatAm to make it more accessible for both existing merchants and new entrants.
Juan Pablo Jutgla, CEO at PayRetailers, said: “This acquisition marks a significant step forward in our strategy to build a best-in-class, full-service payments ecosystem. By bringing Celeris’ orchestration and credit card capabilities in-house, we’re able to offer our clients a more seamless, global solution through a single integration.
“As we continue to leverage our deep regional expertise and proven track record to scale across Latin America, these capabilities will be essential in enabling our customers to move faster, operate smarter and access new markets with confidence.”
Why Celeris?
Celeris’ orchestration gateway enables partners to connect to a single platform and access over 75 acquiring partners globally, which simplify and improve access for new and existing merchants, allowing them to expand in the region with greater ease. It offers white label services to PSPs, banks, and fintech businesses, alongside direct-to-merchant full-service payment solutions.
With over 30 professionals, the company has developed a scalable, modular infrastructure that supports high-growth industries such as video-on-demand, streaming, online retail, subscriptions, and digital communication services.
Sunil Jhamb, founder and CEO of Celeris, said: “This acquisition marks a super exciting new chapter for Celeris. Building Celeris has been a journey of a lifetime. Thanks to my rockstar team, valued customers, and trusted partners who believed in me and made Celeris a success! We always wanted to make online payments more secure, highly scalable, and user-friendly. Joining forces with PayRetailers will allow us to scale that vision further.”
Deloitte provided legal advice to PayRetailers on the acquisition. Pinsent Masons provided legal counsel to Celeris, while Royal Park Partners acted as their financial adviser.
Source: https://thefintechtimes.com/
