TransUnion Expands in Mexico With $560 Million Buro de Crédito Deal

TransUnion plans to purchase Mexico’s biggest credit bureau’s consumer credit business for $560 million.

The deal, announced Thursday (Jan. 16), makes it the majority owner of Trans Union de Mexico, an arm of the country’s Buró de Crédito.

“Our expansion in Mexico continues our commitment to making trust possible in global commerce,” TransUnion President and CEO Chris Cartwright said in a news release.

“Credit bureaus are a catalyst for financial inclusion, and we are excited for the opportunity to bring the benefits of our state-of-the art technology, innovative solutions and industry expertise to Mexican consumers and businesses. We also look forward to supporting the country’s digital transformation objectives to empower consumers with increased economic opportunity.”

According to the release, TransUnion already owned around 26% of Trans Union de Mexico, has held seats on its board for more than two decades, and is one of the company’s technology providers. With this deal, it will acquire another 68% from selling shareholders, including several of Mexico’s biggest banks.

The release notes that Mexico has the world’s 12th largest economy — the second largest in Latin America (LatAm) — with a rising population and emerging middle class. The country also has a fast-growing consumer credit space, with more than half of its adults using at least one financial product.

“While credit penetration remains lower in Mexico than other Latin American countries, it has significantly increased in the past decade, from 34% to 42% of GDP between 2013 and 2023,” the company said.

“After the transaction closes, TransUnion intends to leverage its global operating model to strengthen Trans Union de Mexico’s services to the Mexican market, including additional efforts to drive financial inclusion.”

The deal follows TransUnion’s recent announcement of its intent to purchase British credit prequalification/distribution platform Monevo.

Earlier this week, PYMNTS looked at Mexico — and the rest of Latin America — in terms of its place in the digital payments world in an interview with Marcelo Moussalli, managing director and Latin America product head executive at Bank of America.

“After many decades of the status quo in payments, Latin America is going through a major transformation,” Moussalli told PYMNTS.

That shift is being driven by Brazil and Mexico, which make up roughly two-thirds of the total GDP of the region.  Regulators in those countries introduced new payments initiatives to modernize their respective banking systems.