US Telecom Aims to Use Fintech to Build Mexican Prepaid Market

A US technology service firm wants to boost mobile prepaid sales in Mexico by partnering with financial technology companies, its chief executive officer said.

Earlier this month, a consortium of Oxio Inc. and Newfoundland Capital Management called Melisa Acquisition, announced the purchase of Telefonica Hispanoamerica SA, a unit of Spain’s Telefonica SA, for $450 million. This includes Telefonica’s Mexico business, Movistar.