Overview
PROSA is a prominent electronic transaction processor in Latin America, established over 50 years ago, with headquarters in Mexico City. It processes more than 10 billion transactions annually, supported by a strong client base of issuers and acquirers. The company is strategically owned by a consortium of major financial institutions, including HSBC México, Santander México, Scotiabank, Banorte, Invex, and Banjército, positioning it as a key player in Mexico's financial ecosystem.
Partnerships and Collaborations
PROSA's collaboration with Utimaco underscores its dedication to enhancing security solutions. Known for its technological infrastructure, Utimaco assists PROSA in technological advancements like the replacement of technological infrastructure and file system encryption projects. This partnership ensures high-quality service continuity for PROSA's customers.
Recent Developments
In a significant strategic move, Visa announced on December 15, and formalized on December 18, 2023, plans to acquire a majority stake in PROSA. This aligns with Visa’s intention to augment digital payment adoption in Mexico and offer advanced technological solutions. Despite this acquisition, PROSA will continue to operate independently, with its current leadership intact and existing shareholders retaining their stakes. This development is poised to leverage Visa’s global payments network, enhancing innovative and secure payment solutions in the Mexican market.
Management Team
- Salvador Espinosa Felix, CEO, leads PROSA with substantial experience in the financial sector, having received his education from Duke University. Felix operates from the headquarters in Mexico City.
- Liliana Marcos holds the position of Head of Legal Affairs, bringing over two decades of expertise in the Mexican financial system, including significant roles in the Comisión Nacional Bancaria y de Valores (CNBV).
Industry Standing and Achievements
Recognized as one of Mexico's most innovative companies, particularly in payment method security, PROSA continually sets industry benchmarks due to its adaptability and strategic partnership choices. The company's efforts and proactive client engagement are expected to further evolve following Visa's acquisition, enhancing the digital payment landscape in Mexico.
Key Competitors
Muutech Monitoring Solutions
Muutech specializes in real-time monitoring solutions for IT and industrial sectors. The SaaS platform offers data collection, analysis, alarming, and visualization, optimizing business operational efficiencies.
Synop
Synop provides a leading software platform for the management of commercial electric vehicle fleets. Utilizing AI-driven analytics, it ensures maximized fleet uptime and minimized energy costs, operating as a front-runner in vehicle-to-grid technology across North America and Europe.
Cinetix Group
Cinetix Group is a major cybersecurity solution provider in Latin America, offering comprehensive services that bolster security strategies and support digital transformation, with operations extending to Colombia, the US, and Venezuela.
Additional Competitors
Emailage (now LexisNexis Risk Solutions)
Emailage, under LexisNexis Risk Solutions, excels in fraud prevention and risk management through proprietary data and machine-learning technologies. It delivers predictive solutions that enhance global fraud detection.
Payveris
Payveris operates a cloud-based digital payment platform, offering services such as P2P money movement and interbank transfers. Acquired by Paymentus in 2021, it ensures financial institutions remain pivotal in commerce while simplifying digital financial processes.
Market Position
With a solid foundation and significant bank ownership, PROSA holds a robust position in Mexico's financial sector. The majority acquisition by Visa underscores its strategic importance and growth potential within the Latin American digital payment landscape. Keeping abreast of the competitive dynamics with firms like Muutech, Synop, Cinetix Group, Emailage, and Payveris will be crucial for navigating future market opportunities and challenges.
