Itaú Chile announces the acquisition of Klap and takes a decisive step in Chile´s payments ecosystem

Core Insights - Banco Itaú Chile has agreed to acquire 100% of Multicaja S.A. and Iswitch S.A., operating under the Klap brand, for a purchase price of CLP 40 billion [1][2] Group 1: Acquisition Details - The acquisition is aimed at strengthening Itaú Chile's value proposition for merchants, SMEs, and corporate clients by enhancing access to modern payment solutions [2] - The closing of the acquisition is subject to customary conditions and approvals from regulatory bodies including the Comisión para el Mercado Financiero (CMF) and the Central Bank of Brazil [3] Group 2: Strategic Importance - This acquisition is considered a strategic milestone for Itaú Chile, allowing for the integration of issuing and acquiring capabilities and promoting a digitalized commerce ecosystem [4] - The acquisition will help accelerate the development of a robust payments ecosystem tailored to the needs of merchants, enhancing customer satisfaction and employee experience [5] Group 3: Klap's Market Position - Klap has a market share of 8.4% in Chile's payments ecosystem and serves approximately 30,000 affiliated points of sale, with around 70% being small and medium-sized enterprises [6] - The company processes approximately 80 million transactions per month, indicating significant operational expansion [6] - Klap's business model combines traditional acquiring services with digital capabilities, positioning it as a scalable platform in a rapidly transforming market [7]