© Reuters. FILE PHOTO: The logo of Mexico’s Coca-Cola FEMSA, the world’s biggest Coke bottler, is pictured at its headquarters in Monterrey, Mexico, August 19, 2018. Picture taken August 19, 2018. REUTERS/Daniel Becerril/File Photo
MEXICO CITY (Reuters) – Mexico’s FEMSA has signed an agreement to purchase financial services company NetPay as the retailer and Coke bottler expands its digital payments portfolio into business-to-business transactions, the company said on Monday.
“This acquisition will allow us to extend our value proposition to micro, small and medium-sized companies,” Digital@FEMSA Chief Executive Jose Antonio Fernandez said in a statement to Mexico’s main stock exchange.
FEMSA had purchased a minority stake in NetPay in 2019, it added, and hopes to complete the full purchase by the first quarter of 2023.
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