The Mexican company FEMSA acquired the payment aggregator Netpay. FEMSA acquired in 2019 a minority stake in the company and has now reached an agreement with its majority shareholders to acquire the remaining shares.
Netpay offers various payment products and services to Mexico’s micro, small and medium-sized businesses. The company provides payment terminals, electronic wallets, electronic vouchers, credit and debit cards in VISA, MasterCard, and more.
Digital@FEMSA is FEMSA’s technological innovation division that offers digital solutions to simplify customers’ lives. The CEO of this division, Jose Antonio Fernández Garza, shared an insight of the strategy behind this deal:
“With NetPay, Digital@FEMSA advances its goal of transforming the relationship Mexicans have with their money (…) This acquisition will enable us to extend our value proposition to micro, small, and medium-sized companies, as well as independent entrepreneurs, to strengthen and make their businesses more profitable”
With this acquisition, Digital@FEMSA continues to build an omnichannel portfolio of diverse financial and digital products and services. NetPay will be a fundamental part of the Business-to-Business element of this portfolio, complementing other key products such as the Spin by OXXO wallet.
The transaction is subject to customary closing conditions and governmental approvals and is expected to be completed during the first quarter of 2023.
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