View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
March 3, 2016updated 04 Apr 2017 3:59pm

EVERTEC closes acquisition of 65% stake in Processa

EVERTEC, a payment processing and switching solutions provider in Puerto Rico, has completed the acquisition of 65% of the share capital of Colombian payment processor Processa.

By Verdict Staff

EVERTEC, a payment processing and switching solutions provider in Puerto Rico, has completed the acquisition of 65% of the share capital of Colombian payment processor Processa.

The remaining 35% of stake will be retained by Caja de Compensación Familiar, the second largest social funds administrator in Colombia.

EVERTEC president and CEO Mac Schuessler said: "We are pleased to have completed the acquisition of Processa and welcome the Processa team and customers to EVERTEC."

In September 2015, EVERTEC agreed to pay nearly $5.4m to purchase 65% stake in Processa.

EVERTEC offers a variety of merchant acquiring, payment processing and business solutions services, while Processa offers electronic payments processing and business solution processing for financial institutions, nongovernmental welfare funds and merchants.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International