BOGOTÁ, Colombia--(BUSINESS WIRE)--The prosperity that the Colombian financial sector is experiencing right now is attracting the most important international companies. EVERTEC, a company with more than 25 years experience and considered the leading full-service transaction processing business in Latin America and the Caribbean, announced today that it is establishing operations in Colombia, beginning in November.
Internationally, EVERTEC provides a great variety of services, including merchant acquiring, payment processing and business process management in 19 countries in the region. Currently, EVERTEC processes more than 1,800 million transactions each year and operates a network of over 4,100 ATMs and 104,000 POS terminals. The company also offers core bank processing and technology outsourcing for the financial sector and other industries.
The strategy behind opening the first EVERTEC branch in Colombia is to make its value proposition available for Colombian companies, focusing on financial institutions with great growth potential, such as new banking institutions, and small organizations like saving and loans banks, specialized financial institutions and credit unions.
“EVERTEC sees a great value in establishing operations in Colombia, because this is a fast growing payments market. We are hopeful that our arrival to the Colombian market also represents a great opportunity for local companies, because we can provide them technological solutions that will contribute to the growth of the country”, explained Peter Harrington, President and Chief Executive Officer of EVERTEC.
The services
According to EVERTEC spokespersons the availability of their services for the Colombian market will be gradual. In the first phase, EVERTEC plans to offer the following services:
- Financial transactions processing: ATM, POS, kiosks, phone payments, electronic payments and ACH
- Debit and credit card processing
- Development and implementation of financial applications
- Solutions for government benefits payments
- Merchant acquiring transactions (coming soon)
- Infrastructure, information systems and network management, and cloud solutions
- Human Resources management solutions
- Outsourcing of operational processes, networks solutions, business continuity and back up
Colombia, as a Latin-American hub
In addition to positioning EVERTEC as a strategic ally for Colombian financial institutions, EVERTEC also plans to transform its Colombian operations into a hub that facilitates the expansion of its services to other South American countries.
According to company spokespersons, EVERTEC considers Colombia a region with a high potential due to the economic stability that various countries in the region are experiencing and also because it is the second geographic region with the highest rate of conversion for paper to electronic transactions. According to Gartner from 2013 to 2015 the electronic transactions in the region are projected to duplicate and forecasts are that the banking sector as investing close to $30,000 million in technology per year.
“We want financial institutions and merchants in the region to see EVERTEC as the best ally for their businesses; the ally that can provide them the technological solutions and services they need in order to accelerate their growth in the upcoming years”, concluded Harrington.
About EVERTEC
EVERTEC (NYSE: EVTC), is the leading full-service transaction processing business in Latin America and the Caribbean. Based in Puerto Rico, EVERTEC provides a broad range of merchant acquiring, payment processing and business process management services across 19 countries in the region. EVERTEC processes over 1.8 billion transactions annually, and manages the electronic payment network for over 4,100 automated teller machines (“ATM”) and over 104,000 point-of-sale payment terminals. EVERTEC is the largest merchant acquirer in the Caribbean and Central America and the sixth largest in Latin America. EVERTEC owns and operates the ATH network, one of the leading ATM and personal identification number debit networks in Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. EVERTEC serves a broad and diversified customer base of leading financial institutions, merchants, corporations and government agencies with ‘mission critical’ technology solutions. For more information, visit http://www.evertecinc.com
Forward Looking Statements Disclaimer. Certain statements contained in this article that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, notwithstanding that such statements are not specifically identified. Words such as "believes," "anticipates," "expects," "intends," "targeted," "continue," "remain," "will," "should," "may" and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. All subsequent written and oral forward-looking statements concerning matters attributable to EVERTEC or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above. Forward-looking statements speak only as of the date on which such statements are made. EVERTEC undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.
