Paysafe launches first Latin American digital wallet, expanding PagoEfectivo in Peru
New product offers code-based payments, P2P transfers and instant payouts as part of broader growth strategy.
Key points:
– PagoEfectivo wallet launched in Peru, offering users instant payments, transfers and code-based transactions
– The product marks Paysafe’s first digital wallet rollout in Latin America
– Launch follows FY24 growth in digital wallet revenue and a strategic refocus on core business segments
Paysafe has launched a new digital wallet product under its PagoEfectivo brand in Peru, expanding its offerings in one of Latin America’s most rapidly digitising payment markets.
The wallet enables users to load funds, make purchases, receive instant merchant payouts and transfer money using a CIP (Código de Pago) system.
This is the company’s first digital wallet rollout in the region. According to Esteban Sarubbi, VP, Head of Latin America at Paysafe, internal research showed that 81% of surveyed Peruvian consumers would use a digital wallet from PagoEfectivo.
Paysafe CEO Bruce Lowthers said: “Consumers in Peru already trust PagoEfectivo for everything from iGaming and digital goods to travel and eCommerce. With the launch of our new digital wallet, we’re giving them a more convenient way to pay.”
Good to know: The digital wallets segment accounted for $766m in Paysafe’s FY24 revenue, growing 4% year-on-year and outperforming other divisions
The launch includes a high-profile national marketing campaign featuring Peruvian actor Carlos Alcántara as brand ambassador. Paysafe also opened a temporary promotional space in Lima called the PagoEfectivo Universe, allowing consumers to engage with the app, participate in interactive events and meet local influencers.
The expansion comes after Paysafe reported a 6% increase in total FY24 revenue to $1.71bn. The company also announced plans to divest from its direct marketing payment processing business, signalling a strategic shift toward high-growth verticals like digital wallets.
In the company’s most recent earnings update, CFO John Crawford noted: “It’s important to highlight that the core businesses performed in line with our expectations for 2024, including 4% revenue growth from our digital wallets segment.”
Paysafe’s expansion in Latin America follows earlier growth initiatives in Europe and North America. In 2025, the company won “Payment Solution of the Year” at the EMEA Global Gaming Awards.
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