The new national policy for financial inclusion by Mexico’s government could accelerate the country’s progress toward financial inclusion. While the goal of achieving 40% loan to GPD is challenging, the new policy, if promptly executed, could support credit for the private sector and bring lending to GDP closer to the government goal by 2018. The…
Password manager, Dashlane, has topped $5 billion in online consumer spending. The Company recently inked a deal with Banamex, Mexico’s largest bank. Through the deal, exclusive to Banamex customers in Mexico, Dashlane will provide 6 months of Dashlane Premium for free and VIP access to its Spanish-language support, as well as the ability to shop…
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.
Banco Nacional de México, Integrante del Grupo Financiero Banamex (Banamex), Japan’s JCB have inked a deal for a JCB merchant acquiring business in the Mexican market. With this partnership, JCB cards will be accepted at more than 70,000 Banamex merchants in Mexico starting this year.
Mexico’s largest electronic payments processor has implemented NCR’s Authentic from Alaric as its new payments transactions platform. E-Global provides switching and card processing services to nearly two-thirds of Mexico’s 350,000 point-of-sale (POS) devices.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Manuel Medina-Mora, Co-President of Citi overseeing Global Consumer Banking.
Gemalto has signed a definitive agreement to acquire 100% of the share capital of SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.SafeNet technology protects over 80% of world’s intra-bank fund transfers and its 1,500+ employees, including 550 cryptographic engineers, serve more than 25,000 customers, both corporations and government agencies, in over 100 countries. In 2013, SafeNet recorded revenues of US$337 million and profit from operations of US$35 million and expects revenues of US$370 million and profit from operations of US$51 million for 2014. The purchase price of US$890 million is self-funded with US$440 million from available cash, and US$450 million drawn from existing long-term credit facilities. The closing of the transaction is expected to occur in Q4 2014, after approval from the relevant regulatory and antitrust authorities.
Citi is adjusting downward its 4Q/FY/13 financial results, from those earlier reported by an estimated $235 million due to fraudulent activity through its Mexican subsidiary. This will lower Citi’s 2013 net income from $13.9 billion to $13.7 billion. Citi subsequently intends to release a revised 4Q/13 Quarterly Financial Data Supplement. As of December 31, 2013,…
BANAMEX launched iAcepta Móvil Banamex, an application developed by Stratus Technologies Mexico / Central America called S-Pay mobile POS. Compatible with handheld devices to make completely secure mobile payments, the immediate benefit is that those providing goods or services can take payment from their clients immediately and securely using credit or debit cards with an incorporated chip. This is the first mPOS solution from BANAMEX that meets EMV certifications and can accept payments from MasterCard or Visa chip cards. To build this solution Stratus worked with its Ecuadorian partner B-Wise (Business Wise), which is a pioneer using this technology in the continent.
Ingenico payment solutions will support, along with Banco Nacional de México, Banamex, one of the leading financial institutions in Mexico, the deployment of the new contactless payment technology. After some months performing on-field tests with different technology providers, Banamex will continue with the massive introduction with the Ingenico countertop iCT220 and iCT250, portable iWL220 and the PIN Pad iPP320. Making this technology available for 30 thousands retailers and customers during 2013, this initiative will allow the retailers from the different productive sectors serving sundry segments of the population to accept over 1.000.000 contactless cards recently issued in the country.
VeriFone Systems is set to provide the Banamex Bank merchant payment solution to deploy contactless payment. Banamex is implementing a full-scale contactless payment deployment, under which several thousand VeriFone contactless-enabled card acceptance systems will be deployed to 1,900 merchants in the Mexico City metropolitan area. The bank is also issuing 100,000 contactless credit and debit cards to begin the transition to the new innovative way of payment. The bank will deploy the VeriFone VX 520 to merchants who use traditional standalone countertop systems, and the VX 820 advance PIN pad to larger retailers that integrate payment systems to electronic cash register systems. The bank expects to have issued 1 million contactless cards and to have deployed 12,000 payment acceptance systems before 2013.
Gemalt digital security was selected as the technology provider for “Transfer,” the service to be offered by the joint venture between América Móvil/Telcel, Citibank´s Mexican unit Banamex and Banco Inbursa in order to turn the mobile phone into an innovative and efficient payment instrument for carrying out transfers and air time purchasing. It allows financial transactions in real time, 24 hours a day, from a mobile device through SMS messaging. América Móvil is the leading telecommunications services provider in Latin America with around 242 million mobile phone subscribers and operations in 18 countries. Gemalto is the technology provider in Mexico of Transfer´s transactional platform and is responsible for the service development, support and operation.