Credomatic International Corp. has acquired the Mondex smart card franchise for Central America, Mondex International of London announced Wednesday.

Credomatic, a major credit card issuer and processor in the region, is the first franchisee outside of Mondex's global ownership group. Unlike the banks in that group, which own 49% to MasterCard International's 51%, Credomatic will not own equity in the Mondex umbrella organization.

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