Mexican microfinance company Gentera SAB de CV has agreed to sell a 100% stake in its family remittances payment business, Pagos Intermex SA de CV, to Transnetwork Services LLC.

The transaction is subject to the signing of closing documents, which is expected to be completed in the first months of 2020.

The operation is part of Gentera's strategy to focus its efforts on strengthening its financial products and services offered through its different subsidiaries.

Transnetwork processes payments to financial networks and retail chains. The company has headquarters in Houston and currently operates in Mexico and Central and South America.