Itaú Chile has agreed to acquire Chilean payments company Klap in a $40B transaction, subject to regulatory approval.
Itaú Chile signed a share purchase agreement to acquire, directly and indirectly, 100% of the outstanding shares of Multicaja S.A. and I-Switch S.A., which operates as a regulated payment card operator under the Klap brand.
Founded in Chile, Klap provides payment services for in-person and e-commerce transactions. The company operates one of the country’s largest point-of-sale networks, alongside Transbank, Red Global, Redelcom, Getnet, and SumUp.
The acquisition expands Itaú Chile’s footprint in payments and merchant services, a core growth area for banks seeking higher exposure to transaction volumes, digital commerce, and small and medium-sized businesses.
Read more on Forbes Chile
