Minsait Payments signs a binding agreement to acquire chilean firm Nexus and consolidates its operating model and its positioning in the payments sector in Latin America
Together with the acquisition, it has signed service provision agreements with the selling banks to guarantee the continuity of the services over the coming years
The agreement will enable Nexus’ customers to operate their payment businesses via the Minsait Payments platform, which complies with the highest standards in the payments industry and generates significant operational synergies
Minsait Payments consolidates its position as one of the leading payment method firms with a presence in Latin America, with the capacity to provide services to companies in any sector
Minsait Payments, an Indra company, has signed a binding agreement to acquire Nexus, the Chilean company that is the chief technological partner of the country’s largest financial institutions engaged in the processing of credit cards.
The effective closure of the transaction is subject to the usual regulatory approvals of the Chilean authorities for these kinds of transactions. It is expected to be completed in the first half of 2022.
The value proposition of Nexus, which works for banking and non-banking entities, is clearly aligned in industrial terms with the activity of Minsait Payments, which focuses on the integrated management of payment methods. Nexus also complements the Minsait Payments portfolio with additional services such as fraud management and control and advanced back office services.
Indra CEO Cristina Ruiz states: “With this deal, Minsait Payments, one of Indra’s pillars of growth, enhances its competitive positioning in the payment services industry in Latin America while consolidating its operating model in the region, which is based on providing these services via its payment services hub in Chile. Accordingly, we aspire to becoming prescribers in the industry, promoting new payment methods and services such as Open Banking, at a time when the main market players perceive these services as essential in their relationships with their customers”.
In tandem with the acquisition, service provision agreements have been signed with the selling banks to guarantee the continuity of the services in the coming years and consolidate the status of Minsait Payments as a technological partner of the country’s leading banks.
Minsait Payments has operational centers in Spain and Chile from which it provides services to Europe and Latin America. The Minsait Payments platform will enable Nexus’ customers to reinforce their businesses, complying with the highest standards in the payments industry while achieving significant operational efficiencies.
Indra’s Managing Director Borja Ochoa indicates: “The acquisition of Nexus is highly attractive for strategic and operational reasons, as it’s one of the few pure-play payment method integrated management companies and it’s located in the country where we operate as a regional hub for Latin America. Combining Nexus’ operations with those of Minsait Payments will enable us to offer an excellent service to our customers by providing them with the most distinctive innovative elements in the sector”.
About Minsait Payments
Minsait Payments (https://mediosdepago.minsait.com/es) is Minsait’s payment method subsidiary that offers processing capabilities and innovative digital payment solutions. The company is committed to a crossover processing model geared towards companies of a technological nature, whether they be fintechs, banks, retailers or large technological firms. Minsait Payments has over 25 years’ experience and a team of more than 1,000 professionals specializing in payments. It currently provides services to more than 50 customers in over 15 countries in Latin America and Europe and processes more than 220 million cards worldwide.
About Indra
Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for the core business operations of its customers world-wide. It is a world-leader in providing proprietary solutions in specific segments in Transport and Defence markets, and a leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America through its affiliate Minsait. Its business model is based on a comprehensive range of proprietary products, with a high-value, end-to-end focus and a high innovation component. At the end of the 2020 financial year, Indra achieved revenue of 3.043 billion euros, had nearly 48,000 employees, a local presence in 46 countries and business operations in over 140 countries.
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