FNE approves Banco Itaú’s purchase of Klap

▤ Summary

Banco Itaú Chile has won FNE approval to acquire control of Multicaja and Iswitch, which operate under the Klap brand. The approval comes with mitigation measures aimed at reducing competition risks in third-party acquiring and payment processing. Itaú must keep its Transbank stake under an independent mandate and avoid sharing sensitive commercial information between the two competitors. The agreement also narrows a non-solicitation restriction to key Klap executives. The deal signals continued consolidation in Chile’s payments ecosystem and may affect partner, integration, and compliance planning.

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