EVO Payments International has done a successful completion of the purchase of Citigroup’s merchant acquiring business in Mexico, conducted through Banco Nacional de Mexico S.A. (Banamex), a wholly-owned subsidiary of Citigroup.
As part of the transaction, Banamex and EVO entered into a 10 year strategic marketing alliance that includes an exclusive referral arrangement covering card acquiring and related products for Banamex’s merchant customers. Financial terms are not being disclosed.
Banamex is the second largest merchant acquirer in Mexico by transaction volume with nearly 100,000 merchant locations, long-standing merchant relationships and a proven track record of innovation and best-in-class customer service. The business will market under the name Servicios de Pago Banamex provided by EVO Payments International.
EVO Payments International is a leading payments service provider of merchant acquiring and processing solutions for merchants, Independent Sales Organizations (ISOs), financial institutions, government organizations, and multinational corporations located throughout North America and Europe. A principal member of Visa and MasterCard, EVO offers an array of innovative, reliable and secure payments solutions, backed by an uncompromising commitment to exceed the needs of its customers and partners.
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