Minsait Payments, an Indra company, has bought Credimatic, a payment operator in Ecuador for undisclosed amount.

The value proposition brought by the acquired entity aligns with the activity of Minsait Payments, and focuses on the integrated management of payment methods.

Furthermore, Credimatic will complement Minsait Payment’s portfolio with additional services such as payment acquisition, and interoperability.

Indra CEO 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 line with the acquisition, service provision agreements have been also signed with the selling banks – Banco Bolivariano, Produbanco and Banco Internacional – for a period of 10 years to guarantee their continuity as well as consolidate the positioning of Minsait Payments as a technological partner of the banks.

Minsait Payments operates centers in Spain and Chile, through which it offers services to Europe and Latin America.

According to Minsait Payments, the integration of Credimatic’s operations into its own platform will allow customers to boost their businesses, comply with standards in the payments industry and achieve operational efficiencies.

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, as some of the leading financial institutions in the region have shown an interest in becoming customers of the new project, while the possibility of new payment businesses is opened up for current ones”.

The Credimatic acquisition comes after Minsait Payments announced in November 2021 that it had signed a binding agreement to acquire Nexus, a Chilean company that serves as technological partner for financial institutions engaged in the processing of credit cards.