Grupo Financiero Banorte (Banorte) has finalized the acquisition of the remaining 44.28% stake in Tarjetas del Futuro (TDF), the operating entity behind RappiCard, for US$50 million. The transaction, which gives Banorte 100% ownership of the strategic alliance, received all required regulatory approvals, including authorization from Mexico’s National Antitrust Commission.
The acquisition is accompanied by a 15-year exclusive commercial agreement with Tecnologías Rappi, under which Banorte and TDF will remain the sole providers of financial products and services to users across the Rappi digital platform ecosystem.
Banorte said the transaction is a core component of its broader digital transformation strategy.
“This operation aligns with Banorte’s comprehensive digital strategy, focused on leveraging Banorte’s business and technological scale to increase profitability…
