EVERTEC signs strategic agreement with Transbank for Chile operations

EVERTEC Inc. (NYSE: EVTC) announced it has entered into a strategic agreement with Transbank, Chile's payment solutions operator. Under the partnership, EVERTEC will operate Transbank's transactional scope along with selected platforms and services.

Transbank, founded in 1989 and headquartered in Santiago, processes millions of transactions daily and provides payment solutions for merchants across Chile. The company has operated in Chile's electronic payments sector for more than three decades.

"This collaboration with Transbank represents an opportunity to continue advancing the evolution of the payments ecosystem in Chile and across the region," said Mac Schuessler, President and CEO of EVERTEC.

Sergio Ávila, CEO of Transbank, stated the agreement "represents a key milestone in our digital transformation roadmap" as the company evaluates alternatives to address current and future business challenges.

The agreement provides Transbank access to technology platforms while supporting EVERTEC's expansion strategy in Latin American markets. EVERTEC operates in 26 Latin American countries and manages the ATH network, a PIN debit network in the region.

Based in Puerto Rico, EVERTEC provides transaction processing and financial technology services across Latin America, Puerto Rico and the Caribbean. The company processes over ten billion transactions annually and serves financial institutions, merchants, corporations and government agencies.

The information is based on a company press release statement.

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