Bitcoin ATMs Deployed in a Commercial Bank – a First in LAC

Cryptobuyer, a leading cryptocurrency and Latin American (LAC) digital asset specialist, Cryptobuyer, is the first company to install Bitcoin ATMs (BTMs) in a commercial bank. Two of its BTMs are now installed in the premises of Banistmo Bank’s headquarters. The installation of BTMs followed the recently-concluded Panamanian Association of Fintech event. Cryptobuyer was one of the…

OTI Inks $6.9mm Immigration Control Contract

On Track Innovations announced that the Ministry of Public Security of Panama has awarded OTI with a contract for the supply, design, installation and integration of systems to monitor and improve immigration verification processes and overall immigration flow. OTI expects to recognize revenues of approximately $6.9 million, with the potential for additional revenue in future years from follow-on contracts. The contract provides for the supply of OTI’s end-to-end turnkey immigration solution, based on its proprietary state-of-the-art, field-proven eID Magna platform.

UniBank & Trust Deploys Fiserv Platform

UniBank & Trust will now implement “Universal Banking” from Fiserv on the “Signature” bank platform, giving users access via the Internet, reducing costs while delivering the business benefits of a traditional, on-site solution. The selected platform features “Data Warehouse,” “Treasury and Financial Crime Risk Management” solutions, “Aperio” customer channel management and “Teller” multi-currency, full-function, branch tellering and transaction processing solution. Using “Aperio” to provide a single view of the end customer to bank agents, allows UniBank to provide speedy, accurate responses to customer inquiries.

APAX EXPANSION

Electronic payment and risk management solutions APAX has opened an office in Panama City to expand into the Latin American and Caribbean Market, primarily focused in Panama and Costa Rica. The Company supports
processing for more than 100,000 cardholders and their merchants. The Panama office is specialized in offering card processing and electronic payment solutions to merchants selling mostly digital goods online in that region of the world. APAX says it is a worldwide credit card
processing network that operates through its processing banks to provide
merchants with reliable credit card processing services.

GE & BAC

GE Capital Global Banking has increased its ownership in BAC-Credomatic
GECF from 49.99% to 75%, which itself owns the retail bank BAC
International Bank and Credomatic operations throughout Central America.
With BAC Credomatic Holding retaining 25%, terms under the increased
share in BAC-Credomatic GECF were not disclosed. BAC was established in
1952 to serve Central Americas countries, has $7.5 billion in assets and
$4.7 billion in deposits while GE Capital’s Global Banking business
reaches customers in 26 countries, offering credit cards, personal
loans, auto financing, savings products and many other financial
products.

EPAY DEBIT

EPAY online payment platform has launched its “EPAY debit card” for
personal and business money access worldwide. The “EPAY debit card” was
designed to provide consumers and small businesses access to all
participating ATMs worldwide; POS transaction capability; online
purchase capabilities; the option to establish payout card capabilities
and money remittance around the globe. Additionally, business owners are
allowed to issue 2-300 cards to their employees for payroll, commission
and benefits payment options, can pay affiliate commissions worldwide
and reduce the transaction costs of cash transfers & wires. EPAY online
payment gateway allows money transfers from around the world through its
debit cards with a variety of benefits over traditional bank accounts.

EPAY PREPAID MC

Card services provider EPAY is now offering to process transactions with prepaid MasterCards
with no foreign exchange conversion
fees. This feature will save users around 3% per transaction, which is the
standard cost of conversion. Users of the EPAY service can pay merchants, employees, clients or
affiliates. With no integration fees, cost per card starts from US$4.99 and
each card has a high USD 10,000 limit. The EPAY prepaid MasterCard has been
designed to meet the needs of international companies of any size with needs
from 2 to 200,000 and more cards.

I2C CONTACT CENTER

Payment solution provider i2c has hired James Riggsbee, previously GM at
Panama Call Center, to serve as its new Site Leader. He also
was a director of United Nearshore Operations (UNO) in the Dominican
Republic and was responsible for 16 contact centers across the United
States and Canada. Riggsbee has worked on accounts involving prominent
financial institutions, including Chase, Citibank, Bank of America,
Discover, Western Union, and several Latin American banks. He has more
than 13 years of experience in call-center management and
extensive background directing operations, client services,
administration, and finance. In addition to the day-to-day management of
call-center functions, his
expertise includes sales and marketing, vendor and client acquisition,
management of client relations, and development of company processes,
policies, and procedures.

WU ACQUISITION

To meet its commitment to expand its margins of profitability while
reducing distribution and operating costs, Western Union has acquired
its Panama-based money transfer and bill payments agent to create the
Transfer Express de Panama business entity. A direct result of the
acquisition, Transfer Express de Panama is to directly operate its own
15 locations and manage relationships with sub-Agents of 100 sites
throughout Panama, in which WU has had presence since 1991. Western
Union and its affiliates, Orlandi Valuta and Vigo, provides global
money-transfer services for sending money, paying bills and purchasing
money orders through more than 355,000 Agent locations in over 200
countries around the world.

Tarjetas Cuscatlan Signs a Deal with First Data

Tarjetas Cuscatlan has signed an agreement with First Data International. Processing Center (PROCESA), a First Data company offering payment processing solutions customized for its clients in Latin America and the Caribbean, will provide card issuing processing services to Tarjetas Cuscatlan de Guatemala to support the launch of several new card products. This agreement builds on PROCESA’s already established relationship with UBC International providing full service support to its Panama affiliate, Banco Cuscatlan de Panama. PROCESA, located in Panama City, Panama, offers payment processing support for credit, prepaid, gift and corporate cards.

First Data Signs Three New Processing Agreements

First Data International and PROCESA announced the recent signing of
three new payment
processing agreements with Bank of Bahamas, Fidelity Bank and the New
England Bankcard Association. Bank of The Bahamas International operates
from 11 locations throughout The Bahamas including New Providence Grand
Bahama, Andros, Inagua and San Salvador. Fidelity is a financial services
group offering a comprehensive range of both domestic and international
financial services. New England Bankcard Association provides services to
financial institutions throughout the United States, Bermuda, Barbados and
the Cayman Islands.