Banco Santander hires Evertec as processor of its acquiring business
June 27 2019 - 5:34PM
Banco Santander Chile (NYSE:BSAC) informs that it signed a
five-year agreement with Evertec, Inc. (NYSE: EVTC), a leading
technology company in Latin America, which will provide processing
services to the Bank's acquisition network, which will operate
under the four-part model with all debit, credit and prepaid
issuers.
Miguel Mata, General Manager for Banco Santander
Chile, said “With Evertec’s credentials as a leading regional
payment processing company, Santander will leverage our robust
client base to achieve our strategic objective of increasing the
coverage, depth and security of the payment methods in Chile, both
face-to-face as well as in e-commerce. As a result of this
initiative, Santander will accelerate the transformation of the
payments market in Chile allowing any entrepreneur, merchant or
business owner to have their own point-of-sale (POS) device to
accept card payments in a more secure manner.”
Mata also asserted that "with this agreement a
virtuous circle of competition will be generated that will allow
transforming the payment market in Chile, enabling any entrepreneur
or merchant to have their own POS to offer payment with cards to
their customers, in a much safer environment." In our case, this
also includes the imminent launch of SuperDigital, which will also
permit more Chileans to access electronic payments, completing this
virtuoso circle."
“Banco Santander has been preparing for this
transformation for the last two years. Last April, the test phase
began and at the end of this year, the Bank plans to install its
first POS. By the first quarter of 2020, the Bank expects to have
significant operations in this market, explained Mata.”
Under the agreement, Santander will have a
complete, secure and efficient processing solution based in the
cloud, which considers the acquisition platform, value-added
solutions (e-commerce, mobile commerce and recurring payments),
administrative services, and fraud prevention.
Mac Schuessler, President and Chief Executive
Officer of Evertec said, “We are extremely pleased to provide our
products and services to Banco Santander, the first bank to
announce plans to open the Chilean payments market. We are
confident that our platform and services, together with our team of
experts in the processing and acquiring business, will drive
innovation and accelerate market growth as market participants
look for alternatives. This confirms our strategy of localizing our
platform for key markets such as Chile, as well as the transition
of our license products to processing products. As a processor with
local capabilities, we believe we are well-positioned to
meaningfully benefit as the market grows.”
About Banco Santander
Banco Santander Chile is the largest bank in the
Chilean market in terms of loans and assets. As of March 31, 2019,
the Bank had total assets for Ch$39,668 million, loans net of
provisions of Ch$29,779 million, deposits of Ch$21,462 million and
total equity of Ch$3,368 million. The Bank’s BIS ratio as of March
2019 was 13.6%, with a core capital ratio of 10.8%. Banco Santander
Chile is one of the companies with the highest risk ratings in
Latin America with an A1 rating from Moody's, A from Fitch, A from
Standard and Poor's and A + from JCR. For more information visit:
www.santander.cl
About Evertec
EVERTEC, Inc. (NYSE: EVTC) is a leading
full-service transaction processing business in Latin America,
providing a broad range of merchant acquiring, payment processing
and business solutions services. The Company manages a system of
electronic payment networks that process more than two billion
transactions annually and offers a comprehensive suite of services
for core bank processing, cash processing and technology
outsourcing. In addition, Evertec owns and operates the ATH®
network, one of the leading personal identification number (“PIN”)
debit networks in Latin America. 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.
Contact:
Robert Moreno
Robert.moreno@santander.cl
Banco Santander Chile (NYSE:BSAC)
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