NovoPayment’s president and chief executive officer Anabel Perez said the company believes that the Mexican prepaid card market has tremendous potential, and it has have made the strategic decision to focus NovoPayment’s efforts on its service provider business.
"We are very pleased to be working with FleetCor on this transaction, and believe that Tebca and Servitebca’s Mexican clients and employees will find a great organization with FleetCor," Perez said.
The deal will enable FleetCor to increase the size of its fuel and food card client portfolios in Mexico.
NovoPayment, which started its Mexican operations in 2009, caters prepaid card programs in Latin America, with operations in Venezuela, Peru, Colombia, and Mexico.
