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EVERTEC Signs Agreement With Caja Popular Mexicana to Launch New Cards for Coops
Rhea-AI Impact
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Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
EVERTEC, Inc. (NYSE: EVTC) has been chosen as the issuer processor for a new Mastercard credit card by Caja Popular Mexicana (CPM), Mexico's largest savings and loans cooperative. This partnership aims to enhance payment flexibility for CPM's 3 million members through the Evertec PayStudio platform. The collaboration includes integrated fraud prevention with RiskCenter 360 and various value-added services to improve credit product management. This agreement reinforces Evertec's leadership in Latin America's transaction processing sector.
Positive
Selected as issuer processor for CPM's new Mastercard credit card.
Enhances payment options for over 3 million CPM members.
Integrates advanced security and fraud prevention via RiskCenter 360.
Negative
None.
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that the Company was selected as the issuer processor of a new payment product for Caja Popular Mexicana’s (“CPM”) affiliate members. CPM, Mexico's largest savings and loans cooperative with over 3 million members and 70 years of experience, decided to expand its payment offerings by introducing a new Mastercard® credit card on the Evertec PayStudio platform® which they launched to the national market during an event held earlier this month.
Mac Schuessler, President and Chief Executive Officer at Evertec stated, "The trust placed in Evertec by Caja Popular Mexicana to support its business strategy further solidifies Evertec’s position as one of the leading processors in Latin America. This agreement is a significant step that will allow CPM members to have more flexibility and increased access to better payment methods while expanding payment acceptance within Mastercard affiliated merchants."
While Alfonso García Moreno, Deputy Commercial Director of CPM affirms, "our interest is to facilitate more efficient administration and management of credit products for our associates, while offering them differentiated product options that take CPM services to the next level. We found in Evertec the strategic partner we needed, as well as in PayStudio the flexibility to meet our business needs and support our continued growth and presence, not only in Mexico, but also throughout the region."
This agreement leverages Evertec's PayStudio multi-issuer platform which offers CPM the ability to configure its credit products all within one system while also integrating into Evertec’s proprietary card monitoring and fraud prevention system, RiskCenter 360, guaranteeing both security and transparency. Likewise, CPM will take advantage of value-added services such as Back-office processing, Call Center management and Chargeback operations that are incorporated into the product suite.
With this new agreement, Evertec continues to position itself as an ideal partner for customer-centric organizations, providing them with the technology solutions that address their clients’ needs to digitize transactions and facilitate payment processes in Latin America and the Caribbean.
About Evertec
EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Puerto Rico, the Caribbean and Latin America, providing a broad range of merchant acquiring, payment services and business process management services. Evertec owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America. In addition, the Company manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process approximately three billion transactions annually. The Company also offers technology outsourcing in all the regions it serves. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions. For more information, visit www.evertecinc.com.
