Visa to acquire a majority interest in Prosa, terms not disclosed

Visa announced it has entered into a definitive agreement to acquire a majority interest in Prosa, a payments processor in Mexico, to accelerate the adoption of secure and innovative digital payments in the country. 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. Prosa will continue commercially providing its brand-agnostic solutions, with its current leadership team staying on to lead the organization. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close during the second half of 2024. Over the coming months, Visa will work closely with participants in the Mexican payment ecosystem, including regulators, current shareholders and the management and board of directors of Prosa to ensure a smooth closing of the transaction.