AMSTERDAM--(BUSINESS WIRE)--GlobalCollect today announces a definitive agreement to acquire Sub1, the leading 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 of Sub1 facilitates GlobalCollect’s strategic intention to expand in Latin America and further contributes to the growth and ambition of GlobalCollect to be the leading e-PSP in the region. B2C e-commerce sales in Latin America are expected to grow from $33.9 Billion in 2012 to $55.4 Billion in 2015, according to research firm eMarketer.
Sub1 has over 15 years of experience in both Card Present (POS) and Card Not Present transaction processing in Latin America. The company is regarded in Latin America as the “gateway to gateways” with the highest number of payment connections in the region. Sub1 has built a reputation noted for its strong client service, platform reliability and speed to market.
“I am very excited about the acquisition. The combination of in-depth knowledge and experience regionally and globally makes Sub1 and GlobalCollect the forerunners in the Latin American ePayments market. I am convinced that this will be a game changing collaboration for ePayments in the region” said Bernardo Menendez , Chief Executive Officer of Sub1”.
Thomas P. Staudt, Chief Executive Officer of GlobalCollect: - “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, Columbia and Peru, and provide full service e-commerce PSP solutions through local acquirers for all regional or global payment methods and products.
About Sub1
Sub1 is a leading technology and services company specialized in transactional processing systems, focused in financial and payment services. During the past 15 years, Sub1 has provided various implementations for several leading companies in the Latin American region. www.sub1.com.
About GlobalCollect
GlobalCollect is the world's premier Payment Service Provider of local e-payment solutions for international Customer Not-Present (CNP) channels such as internet, mail, and telephone orders, and specializes in a wide range of industries such as travel, retail, online gaming, financial services, telecommunications, publishing, portals, and digital content. While most providers limit their services to a technical link with payment acquirers, GlobalCollect is a full service partner consulting clients on how to increase transaction volumes, expand distribution channels, and reduce costs by streamlining back office processes. Through a single-interface online payment platform, we offer access to an unrivalled portfolio of local and international payment methods in almost 200 countries, including all major credit and debit cards, direct debits, bank transfers, real-time bank transfers, eWallets, cash at outlets, prepaid methods, checks, and invoices. www.globalcollect.com