YellowPepper, Latin America’s leading Mobile Payment and Banking solutions provider, announced the latest development in expanding their mobile payment footprint in Latin America. YellowPepper will increase its existing reach through a new partnership in Latin America with the largest financial group in Colombia, Grupo Aval (Banco de Bogota, Banco de Occidente, Banco Popular and Banco AV Villas), powering their Aval Pay offering.
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.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Gonzalo Gortázar, Chief Executive Officer of CaixaBank.
MoneyGram may have turned the corner following the loss of the Walmart account as U.S.-to-U.S. transactions declined 37% in Q1, compared to a 40% decline in the fourth quarter. MoneyGram says lower pricing and self-service products in December was the primary driver.
In a continuing effort to exit international consumer banking Citi inks a final deal to unload its Citi Cards Japan business to Sumitomo Mitsui Trust Bank for an estimated US$350 million. The deal, with began negotiations in December, includes 743,000 customer accounts and an exclusive franchise for Diners Club cards in Japan, according to CardData.
Citibank unloads another international unit including its credit card business in Nicaragua. Grupo Financiero Ficohsa (GFF) is buying 100% of Banco Citibank de Nicaragua.
Latin America is the fourth largest region worldwide by B2C E-Commerce sales. Two of the emerging B2C E-Commerce markets in the region, Brazil and Mexico, rank among the top twenty countries by the size of the online retail market.
Western Union is hooking up with Grupo Financiero Banorte’s UniTeller network to launch international direct to bank money transfers to Mexico from the U.S.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Manuel Medina-Mora, Co-President of Citi overseeing Global Consumer Banking.
CT-based Gramercy Funds Management has made a siazble investment in Credivalores-Crediservicios, its affiliates and subsidiaries. Grupo Credivalores) is anindependent consumer finance company in Colombia and one of the country’s fastest growing non-banking financial institutions. Grupo Credivalores is comprised of four complementary companies including: Credivalores (non-regulated consumer finance company), Credifinanciera (regulated consumer finance company), Microfinanzas &…
Banco Ficohsa completed the purchase of Banco Citibank de Honduras, S.A and Cititarjetas de Honduras, S.A., after receiving the required regulatory approvals. The acquisition is the largest transaction of its kind undertaken by a Honduran bank. Ficohsa now becomes the largest bank in Honduras and one of the top 10 banks in Central America. The deal included an US$ 80-million capital contribution, which brings Ficohsa’s total net worth to approximately US$ 350 million, which represents 21% of Honduras’ total financial system’s net worth. The contribution is comprised of tier 1 and tier 2 capital. The combined entity will have a loan portfolio of US$2 billion, a deposit base of over US$1.6 billion and US$ 2.7 billion in assets, which represent 20% of the total assets of the Honduran financial system (using pro forma figures of the companies combined as of March 31, 2014.)
First Data Corporation today announced that Grupo Unicomer, a leading retailer of furniture, appliances and electronics in Central America, South America and the Caribbean, will use VisionPLUS® Flex as their core processing system for all their retail brands in the 19 countries in which they operate.