Acquisition Expands Worldpay Presence in Latin America
Worldpay Group has acquired Cobre Bem Tecnologia, a provider of payment solutions in Latin America, for an undisclosed amount. The payments and risk services provider said that with the transaction, its e-commerce division will further strengthen its global reach, giving its customers access to a wide range of payment products in Brazil, Argentina, Colombia, Chile and Mexico.
Established in 1995, Cobre Bem is a payment service provider that offers single point access to popular local payment methods in Latin America, including eight different credit/debit card types and more than 20 banks for direct online transfers, direct debit and Boleto Bancario. The company is headquartered in Brazil and has offices in Rio de Janeiro and Sao Paulo.
Following the acquisition, Cobre Bem will continue to operate its current business model, and its existing management team will join the senior leadership of Worldpay’s eCommerce business unit.
Worldpay added that it has also committed to further investments in Cobre Bem’s technology and product offering, as well as to bringing its functions such as relationship management, corporate support and implementation to Sao Paulo and Buenos Aires – guaranteeing a consistent customer engagement model around the world.