Visa Accelerates Digital Payments in Mexico with Prosa Acquisition

Visa has finalized an agreement to acquire a majority stake in Prosa, a significant player in Mexico's payment processing market. The strategic acquisition, with undisclosed financial details, aims to accelerate the adoption of cutting-edge digital payments in Mexico. Leveraging Visa's global networks, Prosa, processing over 10 billion transactions annually, is poised to benefit from innovative solutions. Post-acquisition, Prosa will retain its technological infrastructure and operational independence, bringing advanced payment methods and enhanced technology to Mexico. The transaction, subject to regulatory clearances, is set to conclude in the second half of 2024.

With its global leadership in digital payments, Visa intends to strengthen Mexico's digital payment system through this tactical move. The acquisition aligns with Visa's 'network of networks' strategy, incorporating global best-in-class technologies to enhance its offerings. Eduardo Coello, Regional President of Visa Latin America and the Caribbean, emphasizes the importance of innovation and technology in Visa's business strategy. The enhanced technological infrastructure aims to introduce creative payment methods for small businesses and consumers in Mexico, collaborating with local issuers and acquirers.

Visa's proven ability to connect stakeholders in over 200 countries complements Prosa's 50 years of experience in the Mexican industry. The collaboration is set to bring multiple benefits to Mexico's payment environment, including advanced payment methods, improved technology, increased transaction security, and efficiency. The joint initiative underscores Visa's commitment to driving innovation in the digital payment landscape and fostering a secure and efficient payment ecosystem in Mexico.