FEMSA, the Mexican retail conglomerate and bottler introduced that it closed the acquisition of NetPay — a digital cost platform for micro, small, and medium-sized enterprises — as a part of its plans to strengthen its participation within the monetary and digital options section.
In an announcement despatched to the Mexican Inventory Alternate (BMV), the corporate stated the deal was closed after Femsa obtained the corresponding regulatory approvals.
The settlement for the group’s acquisition of NetPay was introduced in November 2022. FEMSA has owned minority shares within the fintech since 2019.
Serving to Mexican small companies turn out to be extra worthwhile
On that event, José Antonio Fernández Garza Lagüera, CEO of FEMSA’s digital subsidiary, acknowledged that “this acquisition will permit us to increase our price proposition to micro, small, and medium-sized enterprises, in addition to unbiased entrepreneurs to strengthen and make their companies extra worthwhile.”
The conglomerate now has full management of the fintech’s shares. It plans to enterprise into Mexico’s remittance market, amplifying the mixing of its digital enterprise and creating an ecosystem that coordinates its Spin fintech, Oxxo’s rewards program, and its B2B enterprise.
Based in Mexico in 2012, NetPay gives a digital platform that allows retailers to simply accept credit score and debit card funds, financial institution transfers, and different digital strategies.
An important transfer for FEMSA’s transformation
Along with that, the corporate additionally affords transaction monitoring and analytics instruments to assist retailers handle and optimize their operations.
In latest months, the fintech has expanded its operations in a number of LatAm nations, together with Colombia, Chile, Peru, and Brazil.
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FEMSA has guess large on the fintech sector and its capacity to remodel the funds business.
The group operates greater than 20,000 shops in Mexico below the Oxxo model. However in line with the corporate, 79% of transactions in these shops are nonetheless cash-based — making getting into the fintech business important to the conglomerate’s digital transformation.
