EVERTEC to support Banco Santander’s Chilean acquiring market entry

               Mac Schuessler

Full-service transaction processing solutions provider, EVERTEC has entered into an agreement with Banco Santander Chile, wherein, EVERTEC will support Banco Santander’s entry into the Chilean merchant acquiring business through acquiring processing services as well as other solutions and regional expertise.

EVERTEC, as the supplier states, will provide Banco Santander with a cloud-based solution that is expected to assist the bank in the authorization of transactions, administration of the merchant business, omnichannel solutions including e-commerce offerings as well as security and fraud management solutions.

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.”

Established in 2004, EVERTEC, Inc. is a leading full-service transaction processing business in Latin America, providing a broad range of merchant acquiring, payment processing and business solutions services.

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.”

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