EVERTEC announced it that will be presenting at the J.P. Morgan 42nd Annual Global Technology, Media and Telecom Conference to be held at The Westin Copley Place. EVERTEC full-service transaction processing business offers a broad range of merchant acquiring, payment processing and business solutions services. EVERTEC serves 19 countries in the region from its base in Puerto Rico and manages a system of electronic payment networks that process more than 2.1 billion transactions annually, and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing.
Fiserv, Inc. today announced that four Puerto Rican credit unions have selected the DNA(TM) account processing platform through USICOOP, a San Juan-based cooperative. With combined assets of nearly $1 billion, the four credit unions will use the DNA platform to improve efficiency and provide the technical foundation to attract additional credit unions to the co-op. Serving a combined membership of over 100,000, Credicentro Coop, MaunaCoop, CamuyCoop and CoopRincón created USICOOP in 2013 to cost-effectively transform their enterprise technology. After a thorough evaluation of core platforms, USICOOP selected DNA, and with it, plans to lead a technological transformation in Puerto Rico’s financial services industry.
Payoneer global payments partnered Nubelo to provide multi-currency global payout solutions throughout Europe and Latin America. Nubelo is a fast-growing freelance service platform which allows companies to manage, from a distance, teams of freelancers. Nubelo will take advantage of Payoneer’s multi-currency payout options and provide their freelancers with access to payments in dozens of currencies. With freelancers throughout an array of Spanish-language countries and project management around the globe, Nubelo needed to have a solution that could easily coordinate complex global payments.
FIS entered into a seven-year agreement with FirstBank Puerto Rico for on-site operational responsibility for the bank’s IT operations and staff. FIS will assume operational control of FirstBank Puerto Rico’s IT operations including hardware and software upgrades, application management, skilled operations personnel, help desk and desktop services. The resulting environment will enable the bank to realize lower operating costs, greater operational efficiencies and full regulatory compliance. The bank will also have access to FIS’ portfolio of industry-leading solutions which will provide top-tier system functionality and assist the bank’s growth strategy as it launches new products and services.
Cardtronics ATMs forged long-term ATM placement agreements with National Lumber & Hardware in 38 locations. With this, Scotiabank will place its brand on all 38 Cardtronics-owned and operated ATMs placed in National Lumber & Hardware stores. Including the National Lumber & Hardware locations, Cardtronics’ ATM branding program has enabled Scotiabank to create convenient surcharge-free ATM access for its customers at more than 90 well-known convenience, grocery and home goods stores, and hotel/hospitality spots in Puerto Rico.
Banco Popular de Puerto Rico (BPPR) will be implementing the Logica “All Payment Solution” (LAPS) to deliver central payments processing for its US Federal Reserve and SWIFT-based payments, anti-money laundering detection and financial messaging. The “LAPS'” scalability enables compliance with new regulations and addresses the changing needs of customers. The payment services hub increases automation levels, enabling real-time and more streamlined payments processing to improve customer service level and drive down operational costs. Logica will work with Banco Popular’s local IT implementation partner, EVERTEC to provide solution deployment support.
Acculynk entered into an agreement with EVERTEC to provide Acculynk’s PIN debit-enabling solution through EVERTEC’s ATH Network, bringing millions of debit card consumers in Puerto Rico the ability to use their PIN-only debit cards for e-commerce. With this, EVERTEC will offer Acculynk’s “PaySecure” Internet PIN debit solution to their participants. This represents a milestone in Acculynk’s strategy to develop Internet PIN debit. The “PaySecure” solution offers an extra layer of security for debit card transactions, helping reduce fraud and charge-backs for financial institutions, while offering attractive margins and opportunities for incremental volume.
Discover Financial Services and Banco Popular de Puerto Rico (BPPR) signed an agreement to expand Discover card acceptance in Puerto Rico. This will give Banco Popular de Puerto Rico merchant customers access to the millions of cardmembers and billions in spending on the Discover and Diners Club International networks. International travelers to Puerto Rico can now expect Discover cards to be accepted at thousands more merchant location for use at merchants throughout the country. Banco Popular de Puerto Rico has $31 billion in assets.
EVERTEC transaction processing, payment processing and merchant acquiring posted 3Q/10 revenues up 10.6% to $74.1 million for 3Q/10, compared to the year ago figure of $67.0 million. With this, operating costs and expenses, excluding depreciation and amortization and a non-recurring expense recorded in this quarter, increased by $0.5 million or 1.1%; the adjusted EBITDA was $33.1 million for an increase of 19.4% over the $27.7 million in the year ago period; and adjusted EBITDA for the twelve-month period ended September 30, 2010 was $124.9 million. Contributing to the 10.6% revenue increase, transaction processing was up $2.1 million or 8.0%; Merchant Acquiring increased $1.2 million or 9.7%; and Business Solutions increased $3.8 million or 13.4% thanks to higher volumes of transactions processed, new services provided and the addition of new customers. Impacting performance throughout the quarter was Apollo Management VII having acquired a 51% indirect interest in EVERTEC, with Popular, Inc. retaining a 49% indirect interest.
Banco Popular North America is launching MasterCard “Platinum XTRA,” awarding customers 1.5 Popular Reward Points for every dollar spent on all purchases. This allows clients to earn awards more quickly and features several enhanced benefits. The new card complements Banco Popular’s Platinum and Secured MasterCard Platinum XTRA. It rewards 1.5 Reward points on all purchases in everyday shopping, such as groceries, gas, clothes or for paying bills. Rewards can be redeemed for a wide variety of items like travel packages, gift cards, certificates and statement credits. MasterCard Platinum XTRA offers 0% APR for nine months on balance transfers completed within three months of account opening.
Cardtronics has signed five year agreements to place ATMs in nine
Supermercados Grande supermarkets across Puerto Rico. As one of the
largest supermarket chains based in Puerto Rico, Supermercados Grande
serves a substantial group of customers. The agreements ensure customers
have ready access to cash when and where they need it and deployment is
planned for 4Q/09. This comes roughly 90 days after Cardtronics first
embarked on the Puerto Rican ATM market with To Go Stores, having
installed ATMs in 11 of the 26 store locations across the Island
commonwealth. Cardtronics expects to place ATMs in the remaining 15 To
Go Stores before 2011. TX-based Cardtronics non-bank ATM operator has
over 33,000 ATMs in the United States, the United Kingdom, and
Mexico (CardFlash International 8/28/2009)
Cardtronics has embarked on the Puerto Rican ATM market with its newest
client, To Go Stores. With this, Cardtronics is set to install ATMs in
11 of the 26 To Go Stores locations across the Island commonwealth and
expects to place ATMs in the remaining 15 To Go Stores before 2011. With
over 33,000 ATMs in the United States, the United Kingdom, and Mexico,
TX-based Cardtronics is the world’s largest non-bank ATM operator. Major
Cardtronics merchant-clients include 7-Eleven, Chevron, Costco, CVS
pharmacy, ExxonMobil, Hess Corporation, Rite Aid, Safeway, Sunoco,
Target and Walgreens. To Go Stores was founded in 2003 and is
headquartered in San Juan, Puerto Rico.