Paysafe, a payment technology company, has officially launched its first digital wallet product in Latin America, "PagoEfectivo Wallet," in Peru, marking a key step in its digital financial layout in the region. This product supports user top-ups, shopping, peer-to-peer transfers, and instant payments using the code-based CIP (Código de Pago) system, providing Peruvian consumers with a multifunctional, integrated digital payment experience.
This is the first time Paysafe has introduced a digital wallet service in the Latin American market, and it is an important part of its global growth strategy. Esteban Sarubbi, Vice President for Latin America at the company, cited internal research indicating that up to 81% of consumers in Peru are willing to use the PagoEfectivo Wallet, fully demonstrating market acceptance.
Bruce Lowthers, CEO of Paysafe, stated: "PagoEfectivo has become a widely used brand in Peru's iGaming, digital goods, travel, and e-commerce industries. Now, we are elevating the payment experience to a higher level with our new digital wallet, offering a more convenient and secure way to serve our users."
The launch is backed by Paysafe's refocus on its core business. In the fiscal year 2024, the company's digital wallet business revenue reached $766 million, a 4% increase year-over-year, outperforming other business lines and providing momentum for this product launch. The company's overall revenue grew by 6%, reaching $1.71 billion, and it announced the divestiture of its direct sales payment processing business to fully bet on the high-growth digital wallet track.
To coincide with the wallet launch, Paysafe initiated a nationwide marketing campaign, inviting well-known Peruvian actor Carlos Alcántara to serve as the brand ambassador, and set up a temporary offline experience center "PagoEfectivo Universe" in Lima. Consumers can experience wallet functions, participate in interactive activities, and meet influencers and opinion leaders to strengthen brand awareness.
John Crawford, Chief Financial Officer, pointed out in the latest financial report meeting: "The digital wallet business has become our growth engine, and its stable performance in 2024 fully aligns with our strategic expectations."
This expansion in Latin America follows the company's layout in European and North American markets. Notably, Paysafe also won the "Best Payment Solution of the Year" award at the 2025 EMEA (Europe, Middle East, and Africa) Global Gaming Awards, further consolidating its position as a global leader in payment innovation.
