Visa expands product offering with Prosa interest, says Baird

Baird noted Visa announced it will acquire a majority interest in Prosa, a payments processor in Mexico. Under the agreement, Prosa will continue to operate as an independent company with its own technology infrastructure, while Visa looks to expand Prosa’s product offerings with new digital solutions, as well as share its experience and knowledge managing a global network and set of technology capabilities. The transaction is expected to close during the second half of 2024. Baird maintains its Outperform rating and $284 price target on Visa shares.