GlobalCollect Acquires Latin American PSP Sub1
GlobalCollect has acquired Sub1, a payment service provider (PSP) in Latin America. Headquartered in Buenos Aires, Sub1 has a 70% market share in Argentina and is growing throughout the Latin America region. The acquisition facilitates GlobalCollect’s intention to expand in Latin America and further contributes to the growth and ambition of GlobalCollect to be the leading electronic PSP (e-PSP) in the region.
Thomas Staudt, chief executive officer (CEO) of GlobalCollect, said: “Sub1 provides access to almost 50 payment connections throughout the Latin American region. Being one of the broadest levels already, they continue to add more. Through this acquisition, GlobalCollect will be able to accelerate the growth and offering in its primary countries in Latin America, notably Brazil, Chile, Argentina, Mexico, Colombia and Peru, and provide full service e-commerce PSP solutions through local acquirers for all regional or global payment methods and products.”