Minsait Payments Consolidates Acquisition of Nexus and Strengthens Its Leadership of the Payment Services Industry in Latin America
Minsait Payments is the key partner for our clients in the revolution of payment methods
Minsait Payments Press Release
- This completes the operation announced by the company in November 2021, when it signed a binding agreement to acquire Nexus, the main technology partner of large financial institutions in Chile for credit card processing
- With the consolidation of this operation, Nexus customers will be able to operate their payments business through the Minsait Payments platform, a technology that meets the highest standards in the payments industry
- Minsait Payments becomes the main technological partner of the largest financial institutions in Chile for payment processing and strengthens its competitive positioning in Latin America, where it has already been consolidating its operating model with other acquisitions such as Credimatic in Ecuador
Madrid, October 17, 2022 - Minsait Payments, Minsait’s payment services subsidiary, an Indra company, has consolidated the acquisition of Nexus, the main technological partner of the largest financial institutions in Chile engaged in the processing of credit cards. This is the effective closing of this operation, which was already announced in November 2021 and was then subject to obtaining the customary regulatory authorizations for transactions of this kind by the Chilean authorities.
With the integration of the two companies, Minsait Payments becomes the main technological partner of the largest financial institutions in Chile for payment processing. Moreover, the company strengthens 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.
This year, the payments company has also acquired 100% of the Ecuadorian company Credimatic, one of the leading payment operators in Ecuador, thus increasing its capacity to serve companies in any sector. Today, in its operating centers in Spain and Chile, it develops solutions for all of Europe and Latin America.
Nexus works for banking and non-banking entities, and its value proposition has a clear industrial fit with the activity of Minsait Payments and completes the latter's portfolio with additional services such as fraud management and control and back office services. Moreover, the Minsait Payments platform in Chile will enable Nexus’ customers to reinforce their businesses, complying with the highest standards in the payments industry while achieving significant operational efficiencies.
In tandem with the acquisition, agreements have been signed with the selling banks that guarantee the continuity of the service provision in the coming years and consolidate the relationship of Minsait Payments as a technological partner of the country’s leading banks.
Ernesto Terríquez, Director of Business Development for Minsait Payments in Latin America, highlighted the value of this deal: “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. With this acquisition, we consolidate our leadership in the Latin American payment services industry, which is one of the pillars of growth for our company. What’s more, we will be able to provide more innovative solutions and the latest technologies for the payments industry, as well as provide cutting-edge services related to Open Banking.”
Today, in its hub in Chile, Minsait Payments develops projects for clients throughout the region. Since 2020, it has added more than 50 new clients, including fintechs, neobanks, financial institutions and non-financial verticals. Of these new additions, 15 were made in 2022, confirming the positive performance of the processing business in Latin America. The company also has another operational center in Spain from which it serves all of Europe.
About Minsait Payments
Minsait Payments (https://www.minsaitpayments.com) is Minsait’s payment services 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.
Minsait, an Indra company (www.minsait.com), is a leading firm in digital transformation and Information Technologies in Spain and Latin America. Minsait possesses a high degree of specialization and knowledge of the sector, which it backs up with its high capability to integrate the core world with the digital world, its leadership in innovation and digital transformation, and its flexibility. Thus, it focuses its offering on high-impact value propositions, based on end-to-end solutions, with a remarkable degree of segmentation, which enables it to achieve tangible impacts for its customers in each industry with a transformational focus. Its capabilities and leadership are demonstrated in its product range, under the brand Onesait, and its across-the-board range of services.
Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for core business operations of its customers world-wide. It is a world-leader in providing proprietary solutions in specific segments in Transport and Defense markets, and a leading firm in digital transformation 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 focus and with a high innovation component. In the 2021 financial year, Indra achieved revenue of €3.39 billion, more than 52,000 employees, a local presence in 46 countries and business operations in over 140 countries.