In addition to the acquisition, Minsait has signed service provision agreements with the selling banks to assure their continuity in the future and strengthen its position as their technological partner


Minsait acquires payment operator Credimatic. (Credit: Ahmad Ardity from Pixabay.)

Minsait Payments, a company of Indra Sistemas, has acquired Ecuador-based payment operator Credimatic to enhance its payments offering in Latin America.

According to the company, Credimatic’s value proposition, which focuses on the integrated management of payment methods, is in line with its industrial terms.

Also, Credimatic will complement the Minsait Payments’ portfolio with additional services including interoperability and payment acquisition.

Indra chief executive officer Cristina Ruiz said: “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 addition to the acquisition, the company has also signed ten-year service provision agreements with the selling banks, Banco Bolivariano, Produbanco and Banco Internacional.

Under the terms of agreements, the banks will guarantee the continuity of their services and strengthen Minsait Payments’ position as their technological partner.

Minsait Payments has operational centres in Spain and Chile, from which it provides services to Europe and Latin America.

The merger of Credimatic’s operations would enable the growth of Minsait Payments’ platform in Latin America, and allows its customers to boost their businesses.

Minsait Payments is a payment method subsidiary of Indra that provides processing capabilities and advanced digital payment solutions.

The company claims to provide payment services to over 50 customers in more than 15 countries in Latin America and Europe, processing more than 220 million cards worldwide.

Indra managing director Borja Ochoa said: “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.”

Last month, Minsait has expanded its strategic alliance with Google Cloud to jointly provide sovereign cloud solutions to public and private sector organisations in Spain.

The expanded collaboration is expected to enable the organisations to advance their digital transformation, while meeting the highest levels of trust, security, and privacy standards.