EVO Payments International has done a successful completion of the purchase of Citigroup’s merchant acquiring business in Mexico, conducted through Banco Nacional de Mexico S.A. (Banamex), a wholly-owned subsidiary of Citigroup.
CardWeb.com’s CardExecs database of card industry movers and shakers today features Manuel Medina-Mora, Co-President of Citi overseeing Global Consumer Banking.
Citi has appointed Manuel Medina-Mora to Chief Executive Officer of Citi Consumer Banking for
the Americas and Chairman of Citiâs Global Consumer Council.
Medina-Mora will oversee CitiÂ´s retail branch network, the branded cards business and the local commercial bank in the
Americas. In his role as Chairman of Citiâs newly formed Consumer
Council, he will be responsible for Citiâs global consumer strategy and
work closely with all regional CEOs. Medina-Mora maintains his role as Chairman and CEO of Citi Latin America
and Mexico. Medina-Mora has served as Chairman and Chief Executive Officer of
Citi Latin America since 2004. Prior to that, he was CEO of Banamex, a
position he has occupied since 1996. He has more than 35 years of
experience in Banamex and Citi. Medina-Mora holds a bachelor’s
degree in Business Administration from Universidad Iberoamericana and an
MBA from Stanford University.
RIA Envia, a money transfer subsidiary of Euronet, has signed
agreements for sending money transfers to Mexico on the Banamex
network. RIA has
41,000 money transfer agents in more than 95 countries and territories
and processes approximately $4.5 billion in money transfers annually.
Originating money transfers across 13 countries in North America, the
Caribbean, Europe and Asia, the company terminates transactions
through an extensive payer network across 85 countries. Banamex,
owned by Citigroup, has a network of over 1,500 bank branches and
more than 3,000 Banamex non-bank locations in Mexico.
Contactless payments will streamline customer service at McDonald’s
Mexico. Banamex, a division of Citibank, has announced the deployment of
Verifone’s “MX870” at McDonald’s locations in Mexico. This will allow
customers to pay using the contactless payment system offered by
MasterCard “PayPass” and speed up the payment process at the restaurants’
cash registers. The “MX870” is also useful as a content delivery system
that verifies the customers’ order and offers promotions. To date,
Banamex has issued 10,000 of these contactless cards. The group has a
net distribution of over 1,400 branches and 5,700 ATMs located
throughout the country.
Citi has announced the acquisition of Grupo Financiero Uno. This
will expand the company’s Latin America presence through incorporation
of 75 branches, and more than 100 kiosks and points of sale. Citi has
also named Edgardo del Rincon Gutierrez as CEO of Grupo Financiero Uno
in Central America. He was promoted from the GFU integration team
director and was previously the General Director of Credito Familiar for
Banamex. Citi is present in 24 countries of Latin America and Mexico and
operates more than 2,100 branches that offer financial services.
Throughout this market, services are provided to 13,000 corporate
customers, 17 million consumer banking customers and nine million
cardholders. On a global scale, Citi has some 200 million customer
accounts and does business in more than 100 countries.
Citigroup has promoted Manuel Medina-Mora to Chairman and CEO of Citigroup Latin America and Mexico. He will retain the position of CEO of Banamex that he has held since 2001. Jorge Bermudez, outgoing CEO of Citigroup Latin America, has become Senior International Advisor of Citigroup. Citigroup also announced that Guillermo Acedo has been named Head of the Global Consumer Group – Latin America, and Gustavo Marin has been named Head of the Global Corporate and Investment Banking Group – Latin America. Additionally, John Gerspach has been named Chief Administrative Officer of the Latin America region.
Grupo Financiero Banamex has become the number one corporate bank, the number one retail bank, the number one credit card issuer, and the number one pension fund manager in Mexico.
Orlandi Valuta, a subsidiary of First Data
Corp., Banco Nacional de MÃ©xico, S.A. (Banamex) and California
Commerce Bank announced that they have entered into an agreement
that will facilitate consumer money transfers to and from Mexico.
Banamex and CCB, both subsidiaries of Grupo Financiero Banamex-Accival
(Banacci), will become a principal agent in Mexico for Orlandi Valuta consumer
money transfers. As MexicoÂs leading bank, Banamex will offer Orlandi Valuta
money transfer services at its approximately 1,700 bank branch and sub-agent
locations within the next few days, strengthening the Orlandi Valuta agent
network in Mexico, which currently includes more than 900 locations throughout
Mexico. With Banamex, Orlandi Valuta will now offer customers the added
convenience of receiving their money transfers in the form of a cash pay-out,
improving upon the companyÂs current check-based disbursement.
ÂWe are very pleased to establish this alliance with Orlandi Valuta,” said
Manuel Medina Mora, chief executive officer for Banacci. ÂThe new services
offered under our agreement will provide even greater value to consumers
sending money to and receiving money in Mexico. The simplified process backed
by BanamexÂs ability to pay cash throughout Mexico will ensure a safe,
and convenient way for consumers to send their hard earned money home.Â
ÂThe simplicity and confidence offered to consumers as a result of our
agreement between Banamex and Orlandi Valuta greatly improves the ability for
Orlandi Valuta customers to send their money home quickly and safely,Â said
Charles T. Fote, president and chief operating officer for First Data Corp.
ÂOrlandi Valuta has been a leader in providing a simple and secure money
transfer service to Mexico, this agreement with Banamex extends that
position to the benefit of our customers.Â
Grupo Financiero Banamex-Accival is Mexico’s leading financial group.
a universal banking strategy, the Group offers a variety of financial services
to companies and individuals, which include commercial and investment banking,
insurance, and fund management. Banamex, founded in 1884, is MexicoÂs leading
commercial bank in terms of equity.The Bank has an extensive distribution
network of more than 1,300 branches and 3,000 ATMÂs located throughout the
About California Commerce Bank California Commerce Bank provides full banking
services for companies and individuals that do business in Mexico and the
United States. As part of Grupo Financiero Banamex-Accival, CCB is the U.S.
banking arm of Banco Nacional de Mexico (Banamex), Mexico’s leading bank. As
such, CCB is the gateway to and from Mexican financial markets. With over $2.1
billion in assets and advanced international information technology systems,
CCB is a valued resource for customers with interests, which cross national
boundaries. For more information, visit California Commerce Bank at www.ccbusa.com.
About Orlandi Valuta
Orlandi Valuta, a subsidiary of First Data Corp. (NYSE FDC) provides same day
and next day electronic money transfer service from the United States to
locations in El Salvador, Honduras, Guatemala and all 32 states in Mexico. In
operation since 1986, Orlandi Valuta has established a safe and reliable agent
network with more than 4,500 locations.
About First Data Corp.
Atlanta-based First Data Corp. (NYSE FDC) powers the global economy. Serving
nearly 2.5 million merchant locations, more than 1,400 card issuers and
millions of consumers, First Data makes it easier, faster and more secure for
people and businesses to buy goods and services, using virtually any form of
payment credit, debit, stored-value card or check at the point-of-sale, over
the Internet or by money transfer. For more information, please visit the
companyÂs Web site at www.firstdata.com.
Banamex, with the purpose of
expanding its automated teller machine network and to obtain better
coverage for its users, today announced that it has purchased 500 new ATMs
from Diebold Mexico. The machines will be serviced through Diebold’s 39
service centers nationwide. Installation is anticipated to be completed by
This purchase forms an integral part of Banamex’s strategy to support
based technology through its network of self-service terminals. Additionally,
it offers customers more advanced electronic transactions and expands the
financial institution’s presence in the flourishing Mexican retail
“All of our terminals are highly reliable and designed to help banks
increase productivity,” said Ernesto Unanue, vice president and general
manager of Diebold Latin America. “We are very pleased that Banamex, which
has been our customer since 1987, continues to work with us to expand and
improve their customer touch points.”
“By purchasing a variety of ATM models Banamex is tailoring the solution
to the location for optimal use,” Unanue said.
Banco Nacional de Mexico (Banamex) was established in June 1884, following
the merger of Banco Nacional Mexicano and Banco Mercantil Mexicano. A pioneer
in Mexican banking, Banamex was the first to introduce the savings account in
1929, and in 1958, it introduced personal loans and the first Mexican credit
card. Banamex currently employs 29,000 people throughout Mexico and has
1,400 branches. The company forms part of Grupo Financiero Banamex – Accival,
which was founded in 1991. For more information, please contact the company’s
Web site at http//www.banamex.com .
Diebold, Incorporated (NYSE DBD) is a global leader in providing
integrated self-service delivery systems and services. Diebold employs more
than 11,000 associates with representation in more than 80 countries worldwide
and headquarters in Canton, Ohio, USA. Diebold reported revenue of US $1.75
billion in 2000 and is publicly traded on the New York Stock Exchange under
the symbol ‘DBD.’ For more information, visit the company’s Web site at
MasterCard First Company to Introduce SET Pilots in Every Region of world with Banamex’s SET implementation in Latin America
MasterCard International announced today that it has successfully completed the testing phase of its secure electronic commerce initiative and is now focusing on global commercialization to meet the demand for a reliable, safe and convenient way to buy and sell on the Internet.
The announcement was made at a meeting of MasterCard’s Electronic Commerce Advisory Group, which was attended by representatives of more than 30 MasterCard member financial institutions from around the globe.
During the meeting, Banamex, a leading Mexican bank with 50% of the international credit card acquiring business in that country, announced its plan to tap MasterCard’s global experience to create an online travel shopping mall. The new site will demonstrate ways to conduct business profitably and safely on the Internet, allowing Banamex and its merchant partners to reach out to an international customer base. Travel agents, tour companies, airlines, hotels, resorts and car rental companies will participate in the Banamex Internet site, which is expected to see its first transaction in December of this year.
MasterCard’s electronic commerce pilots today span every region of the world. MasterCard is involved in 67 electronic commerce pilots in 32 countries. These pilots involve nearly innovative 90 members that represent more than 90% of MasterCard’s volume.
“Today, electronic commerce is poised to go mainstream,” said Steve Mott. “The successful coordination of MasterCard implementations around the globe has set the stage for a global wave of electronic commerce as we move from the pilots into commercialization.”
The Banamex program will use the most recent version of the SET Secure Electronic Transaction* protocol, 1.0, creating a secure and convenient way for consumers to book travel services online.
“With more than $6 billion in international tourism receipts coming into Mexico in 1996, the potential for international travel sales is enormous,” said Marco Antonio Giardiello, of Banamex. “We believe there is an incredible opportunity to connect Mexican retailers with a global customer base reliably and safely with a secure Internet site.”
The market for electronic commerce in Latin America is expected to grow dramatically over the next several years, mirroring global estimates for electronic commerce. For example, in 1996 visitors to Cancun booked 4000 hotel rooms online — without any coordinated effort to promote online reservations. With a secure electronic commerce initiative and the marketing support surrounding the Banamex effort, that number could grow exponentially.
In addition to Banamex, MasterCard supports the efforts of innovative members around the globe that are working on the leading edge of electronic commerce:
— In July 1997, the Swiss financial association Telekurs and Europay implemented an electronic commerce program using SET 1.0 software and are conducting transactions.
— In South Africa, Boland Bank has been using SET 1.0 software since July 1997.
— In Japan, Fuji Bank and UC Card are conducting the world’s largest SET-based program, involving more than 100,000 cardholders. These partners are looking even farther ahead, demonstrating the potential of PIN-based debit cards for Internet transactions because consumer demand in Japan calls for this type of payment vehicle for Internet commerce.
Combined, these initiatives have seeded the market and created a ground swell of support from members, merchants, technology vendors and consumers. MasterCard views its role as providing leadership and direction to the constantly evolving, fluid environment known as electronic commerce.
The business case for electronic commerce rests on the need for a secure, convenient, cost-effective and reliable infrastructure which seamlessly connects buyers and sellers together in a global marketplace. “Building this business case requires three distinct yet connected phases to be successful: creating the technological capability, making electronic commerce commercially viable, and expanding the options and services available to online participants,” said Jerry McElhatton, executive vice president of MasterCard International and president of Global Technology and Operations. “We’ve been successful in helping banks and merchants understand how they can profit from the new opportunities available to them in the online world, and have placed strong emphasis on creating an open, industry standard that will facilitate global electronic commerce.”
Phase 1. The focus of MasterCard’s efforts during the first phase of its three-phase strategy was the creation – with Visa International and a wide range of industry-leading companies – of the SET Secure Electronic Transaction* protocol.
Phase 2. In the second phase of its electronic commerce plan, which MasterCard announced today at its Electronic Commerce Advisory Group meeting, MasterCard is creating a global, commercially viable network of merchants, financial institutions and cardholders. MasterCard’s role in this move toward commercialization include:
— Assisting its members in seamlessly transitioning to SET 1.0 software implementations when those systems are production-ready.
— MasterCard will conduct merchant promotions and consumer education campaigns to raise awareness of online commerce.
— MasterCard will begin linking the programs of its members to create a coordinated, cohesive program that will allow financial institutions, cardholders and merchants around the globe to conduct electronic commerce in the virtual marketplace.
Phase 3. MasterCard’s global reach and technological strengths offer the ability to build alliances that deliver electronic commerce solutions that meet market needs. In addition to promoting SET as the best available solution available today to create a global electronic commerce marketplace, in the third phase of MasterCard’s electronic commerce plan, it will:
— Create an even broader electronic commerce platform – one that uses cutting edge technologies (to make electronic commerce better faster, more cost effective).
— Introduce new payment systems and vehicles (chip, debit, electronic cash, web television, screen phones, etc.)
— Develop on solutions that tap the enormous potential of Mondex chip technology for payments over the Internet.
MasterCard International, a payments company with one of the world’s most recognized brands, is dedicated to helping more than 23,000 financial institutions around the world offer consumers a variety of payment options. MasterCard remains focused on helping shape the future of money by expanding acceptance of its global brands (MasterCardr, Maestror, Mondex(tm) and Cirrusr, the world’s largest ATM network) and maintaining reliable, secure networks facilitating global value exchange. MasterCard has 400 million credit and debit cards that are accepted at more than 14 million merchant, cash and ATM locations worldwide. In 1996, gross dollar volume generated exceeded $550 billion. MasterCard can be reached through its World Wide Web site at .