EVERTEC, the ATH Network’s processing firm for Latin America and the Caribbean, announced an agreement with NYCE Payments Network, LLC, a leading U.S. payments network and a subsidiary of Metavante Corporation, that will enable purchases throughout the U.S. for holders of ATH debit cards issued by ATH Network-affiliated banks and cooperatives in Puerto Rico and the U.S. Virgin Islands.
The new service will allow customers to use their ATH debit card and PIN to pay for purchases at any U.S. merchant that accepts NYCE. “Each year, Puerto Ricans make millions of trips to the U.S. mainland,” said ATH Network’s first vice president, Jorge HernÃÂ¡ndez. “This agreement enables them to make purchases using their ATH debit card as easily as they do in Puerto Rico.”
“By partnering with EVERTEC and the ATH Network, NYCE continues to deliver on its mission of expanding the benefits from electronic payments as broadly as possible,” said Frank D’Angelo, group president, Metavante Payment Solutions.
Added Steve Rathgaber, NYCE president and chief operating officer: “NYCE and EVERTEC together are increasing PIN debit purchasing power for ATH cardholders, and we’re delivering new, cost-effective payment card transactions to NYCE retailers.”
The ATH-NYCE partnership makes a potential 2.2 million PIN debit cards eligible for use at NYCE-affiliated retailers. Additionally, ATH Network affiliated financial institutions, including cooperatives, will offer their clients the flexibility of using their debit cards at any of the more than 1.3 million retailers that accept NYCE.
With this service, the ATH Network is expected to generate more than 1 million annual transactions in the U.S. According to HernÃÂ¡ndez, “Consumers should be confident that all their transactions will be made according to all the same security protocols, using their PIN, as they do in Puerto Rico.”
“This new partnership will be of particular benefit to young Puerto Rican residents studying in the U.S.,” HernÃÂ¡ndez said. “Now they will be able to make secure payments to participating businesses, without first having to find an ATM to withdraw the cash their parents have deposited for them back home. At the same time, the ability to make purchases at most stateside businesses using an ATH debit card eliminates the need for travelers from the Island to carry large amounts of cash or purchase traveler’s checks.”
HernÃÂ¡ndez added, “By using their PIN just as they do in Puerto Rico, ATH Network users can rest assured that their transactions will be processed with the speed and security to which they’re accustomed.”
EVERTEC Inc., a Puerto Rican company with international operations, provides its customers with transaction processing services and technological solutions for business management. It also operates the region’s most extensive network of 4,400 automated teller machines and 84,000 point of-sale payment terminals in Puerto Rico, the Caribbean, Costa Rica, Guatemala, and El Salvador, in addition to over 170 financial institutions. EVERTEC is the Caribbean’s leading processor of electronic transactions, processing more than 35 million monthly transactions. It currently has clients in Puerto Rico, the U.S., the Dominican Republic, Costa Rica, Venezuela, Haiti, Guatemala, El Salvador, Honduras, Bermuda, Belize and Nicaragua.
NYCE Payments Network, LLC, helps its clients grow with innovative new products and strategic alliances that enable them to capitalize on the efficiency, consumer convenience and security of electronic, real-time payments. The NYCE Network provides consumers with secure, real-time access to their money, connecting the accounts of more than 74 million cards with 275,000 ATMs, and 1.3 million point-of-sale locations nationwide. Headquartered in Secaucus, N.J., NYCE Payments Network, LLC, ( www.nyce.net ) is a Metavante company. Metavante is the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).