Mastercard (MA) Divests Mexico Digital Payment Unit

Mastercard Incorporated (NYSE:MA) is one of the 13 best blue-chip stocks to buy according to analysts. On June 27, Argentina-based fintech startup Tapi announced its acquisition of the bill payment and cash-handling divisions of Arcus, a Mastercard-owned company, expanding its footprint in the Mexican market.

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The acquisition will give Tapi access to a vast network of cash-in and cash-out locations across Mexico. The acquisition will also enable the company to expand its digitization efforts in a market with growing fintech adoption.

Tapi expects the expansion to allow them to process more than 270 million transactions in Latin America by year-end. Mastercard, Arcu’s parent company, will retain the brand and payment processing and reconciliation technologies through Mexico’s real-time interbank network.

Mastercard Incorporated (NYSE:MA) is a financial technology company focused on the payments industry. It facilitates electronic funds transfers (EFTs) through its network, enabling transactions using branded debit, credit, and prepaid cards.

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