The acquisition delivers approximately 3,000 merchants to the JV and expands its in-market integrated payment solutions and technology capabilities which will enhance EVO’s acquiring services and attract new customers.

Founded in 2018 by Cristian Tala Sanchez, Pago Fácil offers an array of digital payment solutions, including acquiring services, eCommerce software integrations, and value-added solutions. EVO will also leverage Pago Facil’s gateway capabilities to enhance its business in Mexico as well as other markets across Latin America EVO enters in the future.

“We are very pleased to announce the acquisition of Pago Fácil following the recent operational approval of our joint venture in Chile” stated James G. Kelly, EVO’s CEO. “Pago Fácil will enhance our position in the market by providing us additional gateway customers to target for acquiring services and integrations to eCommerce referral partners to augment the JV’s bank referral channel. Cristian and his team will bring significant eCommerce expertise across product, technology, sales and support. eCommerce has experienced enormous growth globally during the pandemic, and we expect an enduring change in consumer spending habits. We are excited to leverage Pago Fácil in Chile and across Latin America as we look to expand our footprint in the region.”

Eugenio von Chrismar, CEO of Bci, highlighted that the incorporation of Pago Fácil will bring benefits for SMEs and other businesses, adding, “With this acquisition we are strengthening our payment platform and our ability to support thousands of businesses to strengthen and develop their eCommerce capabilities. We believe that this is key to improve the competitiveness and productivity of enterprises, SMEs and other businesses that operate in Chile. This acquisition also demonstrates our commitment to find spaces for collaboration and development of synergies between banks and Fintech companies in Chile.”

Cristian Tala Sanchez, Founder, Pago Facil, added, “Throughout 2020, our business demonstrated tremendous growth, including significant increases in processed transactions and payment volumes. We are excited to work with EVO and Bci, leveraging their payment capabilities and extensive customer base, to continue to grow our business and provide best-in-class eCommerce solutions in Chile and across Latin America. By joining forces with two leading organizations, we will greatly enhance our financial technology offering, which will benefit our existing relationships and enable us to attract new customers as well.”

The acquisition is expected to close in early June.