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Press Release

Minsait creates a payment systems subsidiary to boost its growth potential

Bnamericas Published: Wednesday, February 19, 2020
Minsait creates a payment systems subsidiary to boost its growth potential

Minsait, an Indra company, has created a payment systems subsidiary called Minsait Payments. It brings together all its products, solutions and services in this market, and more than 1,000 professionals specialized in payment systems of Minsait in Spain, United States of America, Dominican Republic, Chile, Peru, Brazil, Mexico and Colombia.

Minsait Payments aims to increase its leadership in the Spanish and Latin American markets, as well as fully benefit from the growth potential of the payment systems market, a sector in constant growth and one of the areas that generates more value and has the highest profitability indicators within Indra. The subsidiary will therefore increase its capacity to consolidate as an Indra accelerator and add more value to the company.

Minsait’s new subsidiary expects to reach a double-digit annual growth in revenues in the following five years in its business, focused on Minsait’s core markets in Latin America and Southern Europe.

The payments global market revenue is projected to growth annually by 6% during the next years (8% in Latin America), growing from €1.29tn in 2018 to €1.86tn in 2024. It means a 44% accumulated growth in this period.

The main vectors of growth for the following years in the payment systems market are the transition to non-cash economies, the boom of e-commerce, and the growing of the online payments channel (with an increasing focus on alternative payment systems).

In Latin America, the cash payments will go from 58% of the total amount of payments in 2018 to 36% in 2022, and this trend will be from 47% to 30% in the EMEA region (Europe, Middle East, and Africa) according to estimations. This shift will also imply a significant increase in the volume of payments through alternative channels.

The total amount of online payments compared with physical points of sale are expected to increase from 23% in 2018 to 31% in 2024.

With this new structure, Minsait Payments aims:

  • To increase its strategic flexibility in business management, thus enhancing the assurance of security and consolidating the best efficiencies for its clients.
  • To scale the issuance business and diversify its portfolio in the acquisition business, due to a major competitive advantage in the processing of transactions thanks to its differential software and the operative excellence in its processing centers network. This will increase its capacity to conduct cross selling and obtain other revenue synergies with companies from the Airlines or Hospitality industries, to name some examples.
  • To strengthen a unique, differential, high added-value range based on digital services for payment systems built upon data and analytics, based on intelligence generation and machine-learning algorithms supported by Minsait’s experience, capacities and leadership in digital transformation consulting, products, and solutions.
  • To strengthen innovation in products and specialized business models. A commitment that has been recently reaffirmed with the acquisition of Afterbanks, a fintech with a differential technology that allows data to be extracted and aggregated from different banks in real time and secure, instant payments to be made.

And all of the above in combination with the constant innovation and efficiency in its processing and digital payment solutions applied to the issuance and acquirer business, instant payments, and payment gateways.

Minsait Payments was launched at the event introducing Minsait’s report of Trends in Payment Instruments.

Leading Payment Systems provider in Latin America and Southern Europe

Minsait Payments is a leader in the South of Europe and Latin America in the payment systems market. It provides a comprehensive, differential and high added value offer, that allows it to add leaderships in the issuance and acquirer business, instant payments, payment gateways, processing, and innovative solutions for digital payments.

The company combines that leadership with a high capacity to lead innovation in this market and to facilitate clients the best use of the benefits provided by the new business models in payment systems, thus becoming their trustworthy partner.

Minsait Payments current leading position is based on its high degree of knowledge in this business. It has more than 25 years of experience in the sector, offering proprietary and specialized solutions, and a large portfolio of personalized services, which gives the company a strong position in the issuance and acquirer business, in security and cryptography, fraud prevention, and network connections, among others.

Minsait has a strong presence in leading banks in 17 countries, it has more than 220 million processed cards, manages more than 100,000 points of sale, and 15,000 ATMs with more than 100 million transactions carried out through its systems every month. With products, solutions, and services such as:

  • Payments as a Service
  • Analytics and data intelligence
  • Payment processing and transactional data intelligence
  • E-commerce
  • Cloud-based payments reconciliation
  • Alternatives to direct debits
  • Payment treatment - Switching - Multichannel
  • Customer loyalty programs
  • Services for airlines, agencies, retailers, and hotels.
  • Online services and Call Centers
  • Development of physical payment strategies

About Minsait

Minsait, an Indra company (www.minsait.com), is a leading consulting company in digital transformation and Information Technology in Spain and Latin America. Minsait has a high degree of specialization and sector knowledge, which complements its high capacity to integrate the core world with the digital world, its leadership in innovation and digital transformation and its flexibility. In this way, it focuses its offer on high-impact value proposals, based on end-to-end solutions, with notable segmentation, which allows it to achieve concrete results for its customers in each industry with a transformational approach. Its capabilities and leadership are demonstrated in its product range, under the brand name Onesait, and its across-the-board range of services.

About Indra

Indra (www.indracompany.com) is one of the main global technology and consultancy companies and the technological partner for its customers’ key business operations around the world. It’s a major global supplier of proprietary solutions in specific segments of the Transportation and Defense markets and a leading company in digital transformation and information technology consultancy in Spain and Latin America by means of its Minsait subsidiary. Its business model is based on a comprehensive range of proprietary products, with an end-to-end approach that has high value and a significant innovative component. In 2018 Indra received income totaling 3.104 billion euros and had 43,000 employees, a local presence in 46 countries and business operations in more than 140 countries.

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