Following this announcement, Prosa is expected to continue to operate as an independent firm with its own technology infrastructure. At the same time, Visa will expand Prosa’s product offerings with new digital services, as well as share its experience in the process of managing a global network and launching new technology capabilities.
The transaction is currently subject to regulatory approvals and other customary closing conditions, while also being expected to close during the second half of 2024. In the following months, Visa will work closely with participants and businesses that are part of the Mexican payment ecosystem (such as current shareholders, regulators, or the management and the board of directors of Prosa) in order to ensure a secure and efficient closing of the acquisition procedure.
According to the information provided in the press release, an important percentage of the payment transactions that take place in Mexico will be expected to continue to be increasingly efficient and secure with Visa’s global experience.
The transaction is expected to offer payment ecosystem players around the world the possibility to be more actively involved in Mexico’s payment landscape, while also increasing the range of capabilities for both customers and businesses. Prosa will be enabled to provide a suite of new benefits to the Mexican payment ecosystem as well.
After the transition closed, Prosa will work together with issuers and other participants in the payments market in order to promote more benefits amongst the cardholders in Mexico, including a secure plan to optimise the needed technology for brand-agnostic tools, as well as Visa’s brand services. Prosa will also aim to push for new solution development, such as the possibility to send and receive payments in near real-time, and technology that offers an optimised efficiency to payments. Moreover, the companies will focus on the development of new services in order to meet the needs, preferences, and demands of their customers, while remaining compliant with the requirements of the local industry at the same time.
Furthermore, the deal will allow Prosa’s partners to provide micro and small business products in order to give them the benefit of new digital methods from which they can expand their overall acceptance. This will include Visa tools to improve transaction data into actionable information that can be leveraged in the process of making informed business decisions, as well as optimise the overall cardholder experience and the revenues or procedures. New solutions will be rolled out in time, including those aimed at enabling both clients and businesses to count on more efficient and reliable ecommerce transactions through Visa’s comprehensive, AI-driven fraud risk management features.
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