Thursday, August 6, 2009

Prosa Tackles Mexican Prepaid Card Market

The Wall Street Journal reports that prepaid card issuer, Prosa is about to take hold of the Mexican prepaid card market. Prosa's shareholders include some of the country's largest banks. HSBC Mexico, Grupo Financiero Banorte SAB (GFNORTE.MX), Banco Invex, Grupo Financiero Santander SAB (SANMEX.MX) and Grupo Scotiabank each own 19.7% of the firm, with state-run bank Banjercito holding the rest. Prosa Chief Executive Jose Molina sees untapped potential for prepaid products like store gift cards, prepaid debit cards and payroll cards that businesses can use to pay employees.

Mexican Electronic Payments Co Prosa Sees Growth In Card Mkt

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