5 Chile banks sell shares in payment processor Nexus

Five Chilean banks divested their shares in card processor Sociedad Operadora de Tarjetas de Crédito Nexus SA, or Nexus, to Minsait Payments Systems Chile.

Nexus processes credit and prepaid cards, among others, for Banco del Estado de Chile, Banco de Crédito e Inversiones, Banco de Chile, Itaú Corpbanca, and Scotiabank Chile SA.

The five banks did not indicate the amount of the transaction in their filings. Banco de Chile owns 29.6% of Nexus. Scotiabank owns 25.9%, BancoEstado owns 14.8%, and so do BCI and Itaú Corpbanca.

In 2019, Santander Chile sold most of its ownership stake in Nexus to Banco de Chile, BancoEstado and BCI.

Minsait, a unit of Spanish company Indra Sistemas SA, was created to increase Indra's presence across payment methods in Spain and Latin America.