Leading global provider of payment and risk services WorldPay has announced it has acquired Latin American payment solution provider Cobre Bem Tecnologia. The aqcquiisotion was completed this last Wendsday April 30th, 2014.
The acquisition will help WorldPay strengthen its Ecommerce presence in Latin America and its overall global presence. Acquiring Cobre Bem Tecnologia will give WorldPay immediate access to countries which Cobre is already present in with supporting local financial tools. These countries include Brazil, Argentina, Colombia, Chile and Mexico.
Cobre Bem was established in 1995 and offers single point access to popular Latin American payment methods including 8 types of payment cards and direct transfers from over 20 different Latin American banks, direct debit, and Boleto Bancario. Cobre Bem Tecnologia is headquartered in Brazil and has offices in Rio de Janeiro and Sao Paulo.
“The acquisition of Cobre Bem underlines our commitment to offering our customers maximum global reach through a single technical connection. The combined Worldpay / Cobre Bem product offering is unrivalled on a global scale and allows our customers to reach any consumer, anywhere, in a currency and with a payment method that they are familiar with,” said Floris de Kort, Managing Director of Worldpay’s eCommerce division.
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No word has been said on the branding and affiliation of the payment firm after the acquisition. Cobre Bem Tecnologia will continue to operate with its current business model, while the management team will join WorldPay’s senior leadership team within its Ecommerce business unit.
As part of the agreement, WorldPay is committed to further investing in Cobre Bem’s technology and product offerings, as well as to bringing Worldpay functions such as Relationship Management, Corporate Support and Implementation to Sao Paulo and Buenos Aires.
“We are delighted to be joining the Worldpay team and see a unique window of opportunity to create a truly differentiated, market-leading proposition for global merchants,” Cobre Bem founder and CEO, Fernando Monteiro, commented.