- Together with the acquisition, it has signed service provision agreements with the selling banks to guarantee their continuity over the coming years
- The agreement will enable Credimatic’s customers to operate their payment businesses via the Minsait Payments platform, which complies with the highest standards in the payments industry and generates significant operational synergies
- Minsait Payments will thus consolidate its position as one of the leading payment method firms in Latin America, with the capacity to provide services to companies in any sector
Minsait Payments, an Indra company, has acquired 100% of Credimatic, one of the leading payment operators in Ecuador. Credimatic’s value proposition is clearly aligned in industrial terms with the activity of Minsait Payments, focusing on the integrated management of payment methods. Credimatic will also complement the Minsait Payments portfolio with additional services such as interoperability and payment acquisition.
Cristina Ruiz, Indra Chief Executive Officer stated: “The acquisition of Credimatic will enable Minsait Payments to consolidate its leadership in the payment method industry in Latin America, which constitutes one of the pillars of Minsait’s growth. This deal will allow us to enter Ecuador, one of the few countries in the region where our presence is limited, and promote our highly innovative payment solutions and the new Open Banking services”.
In tandem with the acquisition, service provision agreements have been signed with the selling banks (Banco Bolivariano, Produbanco and Banco Internacional) for ten years to guarantee their continuity and consolidate the status of Minsait Payments as a technological partner of the country’s leading banks.
Minsait Payments has operational centers in Spain and Chile, from which it provides services to Europe and Latin America. The integration of Credimatic’s operations into the Minsait Payments platform will enable its customers to boost their businesses, complying with the highest standards in the payments industry while achieving significant operational efficiencies.
Borja Ochoa, Indra’s Managing Director, indicated: “The technological capabilities of the Minsait Payments platform, together with the outflow of Credimatic’s capital from the banks, will generate growth opportunities for the company, as some of the leading financial institutions in the region have shown an interest in becoming customers of the new project, while the possibility of new payment businesses is opened up for current ones”.
The acquisition of Credimatic is a further step in the growth process of Minsait Payments in Latin America. The operation comes just a few weeks after Minsait Payments announced in November that it had signed a binding agreement to purchase Chilean company Nexus, thus becoming the main technological partner of the country’s largest financial institutions for payment processing.
About Minsait Payments
Minsait Payments (https://mediosdepago.minsait.com/es) is Minsait’s payment method 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.
About Indra
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 Consultancy 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 end-to-end focus and with a high innovation component. In the 2020 financial year, Indra achieved revenue of €3.043 billion, near 48,000 employees, a local presence in 46 countries and business operations in over 140 countries.
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