E-Global and Prosa are not sold

AFTER FOUR years, two of which without a plenary session of the Federal Competition Commission (Cofece), finally looked into the case of the market for processing payments by credit or debit card.

This service is provided through so-called clearinghouses, companies that move money between consumers and businesses.

In our country there are four clearing houses approved by the Bank of Mexico: E-Global, which manages Francisco Zagoand the Prose, which captain Salvador Espinosa.

Also think about Visa and MasterCard, although they did not start their operations in national transactions and were the most interested in Cofece solving the lack of conditions of effective competition in this market.

E-Global and Prosa are the two clearing centers currently operating in Mexico and belong to different banking groups.

The first comes from BBVA, which chairs Edward Osunaand Citibanamex, which manages Manuel Romo, while the second is from Banorte, from Marcos Ramírez; HSBC, Jorge Arce; Santander, Felipe Garcia; Scotiabank, Adrien Otero; Invex, from Juan Guichardand Banjercito, from Manuel Ramirez.

The decision left all parties satisfied. The plenary session of the autonomous body, chaired by Andrea Marvan, makes recommendations to the Bank of Mexico, which carries Victoria Rodriguezand the National Banking and Securities Commission, Jesus of the Fountainto remove obstacles to competition and restore competitive conditions in this market.

The resolution places particular emphasis on Banxico taking a more active role in the formation, supervision and monitoring of the regulation of the card payment system.

Regarding clearing houses, he ordered them to implement compliance programs and designate a person responsible for verifying their compliance at the senior management level, but not to work or provide services to issuing banks, owners brands or clearing houses.

Contrary to what some believed, and as was proposed in a preliminary draft, Cofece did not order the sale of E-Global and Prosa.

Judicious resolution, since the lack of competition in the market has decreased more in the area of​​Banxico and CNBV than in companies; In addition to the fact that the sale would have put them at a disadvantage compared to Visa and MasterCard.

Cofece hopes that the recommendations and regulations concluded will contribute to greater entry of competitors into the card payment processing services market, with differentiated services, better quality and lower costs.

A LITTLE MORE THERE IS of a month, the Fonatur, still in control of Javier Mai, awarded directly to the construction company Mota-Engil the contract PTM-TRAMO1/23-0I/02, for the “Extraordinary works for the preparation of the executive project, the supply of materials and the construction of the platform and of the Maya train track, corresponding to the Palenque-Escárcega section”. The name of the company that has particularly benefited from it is the Latam Tranche 1 Consortium, delivered by the Portuguese company that introduced into the country João Parreira, and the Eastern China Communications Construction Company, a duo that had already received an additional 13.4 billion for the construction of the aforementioned section. The new one we are talking about now was delivered in the first days of August and amounts to 2 thousand 921 million 556 thousand 657 pesos.

ABOUT Mota-Engil, its president in Mexico is Jose Miguel Bejosvery present in public procurement over the last six years, but with the arrival of Andrés Manuel López Obrador and the 4T was even much better. We are not only talking about the infrastructure works that he is developing, but now he has also become a successful businessman of what could well be considered today as the “national sport”, due to the importance granted to him by the tenant of the National Palace. . This weekend, the Pericos de Puebla, the team owned by José Miguel himself, were proclaimed champions of the Mexican Baseball League. Something similar happened in 2021, when Cruz Azul was at its peak and its control passed into the hands of those close to the current government.

YESTERDAY HE WAS WITH the members of the Business Coordinating Council, virtual candidate of the Opposition Front, Xochitl Galvez. He did very well on this call. He addressed numerous and varied subjects, although the emphasis was placed on three major aspects: the rule of law, respect for institutions and regulatory bodies and Pemex’s debt. Present were, among others, Salvador Daniel, from Grupo Danhos; Max El-Mann, of Fibra UNO; Paulina Santilli, of PepsiCo; Julio Carranza, of BanCoppel; Alberto de la Fuente, of Shell; Monica Aspe of AT&T; Antonio del Valle Perochena, of Grupo Kaluz; Maria Aiza, from Biva; Albert Figueras, of Banco Sabadell; Tania Ortiz, de Sempra, and Claudio X. González Laporte.

BY DARÍO CELIS ESTRADA

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@DARIOCELISE

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