Visa, a global titan in digital payments, has struck a definitive deal to acquire a majority interest in Prosa, a pivotal player in Mexico’s payment processing sector. This move aims to fast-track the adoption of innovative and secure digital payments in Mexico.
This strategic acquisition, of which the financial terms are not disclosed, intends to bolster the digital payment infrastructure in Mexico. Visa plans to inject new digital solutions into Prosa’s offerings while leveraging its global network expertise.
Visa’s stature as a world leader in digital payments is well-established, connecting various stakeholders across over 200 countries. Prosa, on the other hand, has over five decades of experience in the Mexican market, processing upwards of 10 billion transactions annually.
Prosa will maintain its operational independence and technology infrastructure post-acquisition. The transaction awaits regulatory approvals, targeting completion in the latter half of 2024.
Visa’s venture into Prosa is set to introduce an array of benefits to Mexico’s payment ecosystem. These include enhanced technology and innovative payment solutions, fostering greater efficiency and security in transactions.
Reflecting on this strategic move, Visa Latin America and the Caribbean Regional President, Eduardo Coello, emphasized the importance of innovation and technology in Visa’s business approach. “Technology and innovation are the foundation of our business and at the core of what we do. As such, this investment is part of our ‘network of networks’ strategy where we leverage best-in-class technologies from around the world to complement our own.
“With the enhanced technology infrastructure provided by Visa’s global payments network, we are setting the groundwork to develop new, innovative ways to pay and be paid for consumers and small businesses alike alongside local issuers and acquirers in Mexico.”
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