Visa To Acquire A Majority Interest In Prosa; Prosa Will Continue To Operate As An Independent Company With Its Own Technology Infrastructure, While Visa Looks To Expand Prosa's Product Offerings
Portfolio Pulse from Benzinga Newsdesk
Visa (NYSE:V) has announced a definitive agreement to acquire a majority interest in Prosa, a leading payments processor in Mexico. Prosa will operate independently, maintaining its technology infrastructure, while Visa aims to enhance Prosa's offerings with new digital solutions. The acquisition is part of Visa's 'network of networks' strategy to leverage global technologies and is expected to close in the second half of 2024, subject to regulatory approvals. This move is anticipated to make payment transactions in Mexico more efficient and secure, and to foster innovation and competition in the local market.
December 15, 2023 | 9:09 pm
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Visa's acquisition of Prosa is expected to strengthen its position in the Mexican payments market, offering potential for growth through new digital payment solutions and enhanced security. The transaction aligns with Visa's global strategy and may positively influence its revenue and market share in Latin America.
The acquisition of Prosa by Visa is likely to have a positive short-term impact on Visa's stock price due to the potential for revenue growth and market expansion in Mexico. The deal is in line with Visa's strategy to enhance its global payments network, which could lead to increased investor confidence in the company's growth prospects in the region.
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