FEMSA agrees to the acquisition of payments firm NetPay

Monterey, NL. Mexican Economic Development (FEMSA) announced that its subsidiaries have signed an agreement to acquire all of the shares of NetPay (NET PAY, SAPI DE CV), a payment aggregator that offers various services and payment solutions (payment terminal) for micro, small and medium enterprises (SMEs) in Mexico.

In 2019, FEMSA acquired a minority stake in NetPay and now it has reached an agreement with its majority shareholders to acquire the rest of the company’s shares, to bring its ownership to 100 percent, indicates a statement from the Monterrey company.

“With NetPay, Digital@Femsa advances in its objective of transforming the relationship of Mexicans with their money; for example, how they manage their income, send money to family, friends or suppliers, receive payments from customers, and generally benefit from reliable and efficient transactions.

“This acquisition will allow us to extend our value proposition to micro, small and medium-sized companies, as well as independent entrepreneurs, to strengthen and make their businesses more profitable,” said José Antonio Fernández Garza Lagüera, CEO of the Digital division of FEMSA.

He added that in FEMSA For more than 130 years, they have been encouraging small businesses to earn more, either by expanding the variety of their products with their beverage portfolio, or by providing convenient access to financial services in local stores.

Today we are taking a step forward to help these small entrepreneurs to offer more payment solutions that allow them to attract and retain more customers”, highlighted the manager.

With this transaction, the digital division of FEMSA continues with the construction of an omnichannel portfolio of different financial and digital products and services that simplify the lives of millions of people.

NetPay It will be a fundamental part of the Business-to-Business (B2B) element of this portfolio, enhancing the payment solutions service and complementing other key elements, such as the Spin by OXXO wallet and the OXXO Premia loyalty strategy.

The transaction is subject to customary closing conditions and government authorizations for this type of operation and is expected to be completed during the first quarter of 2023. FEMSA it’s a statement.

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