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News » EVERTEC closes acquisition of paySmart

EVERTEC closes acquisition of paySmart

HJ Suroy suroy

Last updated: March 3, 2023 1 min read
EVERTEC acquires paySmart
Photo from EVERTEC

SAN JUAN, PUERTO RICO — EVERTEC announced it had acquired 100% of Brazilian payments company Paysmart Pagamentos Eletronicos (paySmart).

The total purchase price is BRL$130 million, or US$25 million at current exchange rates.

“We are pleased to announce the acquisition of paySmart, which helps us accelerate our expansion in Brazil and compliments our current product offering in this important market,” said EVERTEC’s President and Chief Executive Officer (CEO) Mac Schuessler.

paySmart is headquartered in Porto Alegre, Brazil. It offers issuer processing services and Banking Identification Number (BIN) Sponsorship services for prepaid programs operating under domestic and international schemes in the country.

EVERTEC is a leading full-service transaction processing business based in Puerto Rico and operates in 26 Latin American countries. It offers technology outsourcing in all the regions it serves. 

The company also owns and operates the ATH network,  a leading personal identification number (PIN) debit network in Latin America.

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