Cardtronics, the world’s largest retail ATM owner, announced an agreement between Cardtronics Mexico and Grupo Financiero Banorte that will result in the Banorte brand prominently appearing on up to 2,000 Cardtronics Mexico-owned and operated ATMs located in Latin America’s largest convenience store chain, OXXO. As a result of its strategic ATM relationship with Cardtronics Mexico, Banorte ” Mexico’s third-largest financial institution by deposits and loans ” will provide its customers with Mexico’s largest ATM network, complete with ubiquitous fee-free access to their cash. Cardtronics Mexico is a majority-owned subsidiary of Cardtronics, Inc.
In addition to offering its customers more than 1,300 nationwide banking offices in Mexico, a Banorte ATM footprint – enhanced by Cardtronics Mexico-owned machines in up to 2,000 OXXO locations – creates a Banorte-branded network of more than 7,000 ATMs in Mexico. The Banorte-branding of these Cardtronics Mexico-owned ATMs has already begun, with up to 2,000 machines targeted to feature the Banorte brand by early 2012.
“Cardtronics Mexico’s status as the largest non-bank ATM owner in Mexico plays a key role in helping Banorte build the nation’s largest fee-free ATM network in short-order,” said Scott Abogado, general manager, Cardtronics Mexico. “In addition to becoming the quantity leader in ATM locations, Banorte aligned with Cardtronics Mexico with the goal of complementing its bank-owned network with the most important retail locations for Banorte-branded ATMs. Given Cardtronics Mexico’s premiere ATM placements in OXXO convenience stores, we’re helping Banorte deliver to its customers both Mexico’s largest and most relevant ATM network for fee-free access to their cash.”
As a matter of established bank industry policy in Mexico, arrangements such as this Banorte-Cardtronics Mexico agreement require approval from the National Banking and Securities Commission of Mexico.
About Cardtronics, Inc.
Cardtronics (Nasdaq:CATM) is the world’s largest non-bank owner of ATMs. The Company, through its subsidiaries, operates over 34,000 ATMs in the United States, the United Kingdom, Mexico and the Caribbean, primarily with well-known retailers such as 7-Eleven®, Chevron®, Costco®, CVS/pharmacy®, ExxonMobil®, Hess®, Rite Aid®, Safeway®, Target® and Walgreens®. Cardtronics also assists in the operation of over 2,900 ATMs under managed services contracts with customers such as Kroger®, Travelex® and Circle K®. In addition to its retail ATM operations, the Company provides services to large and small banks, credit unions and prepaid card issuers allowing them to place their brands on over 11,900 Cardtronics’ ATMs and providing surcharge-free access through Cardtronics’ Allpoint Network. For more information, visit www.cardtronics.com.