The recent acquisition of BBR secures the company as the region’s leader in transaction processing
Evertec, the leading company in transaction processing and digitalization services in Latin America and the Caribbean, announced its recent acquisition of BBR SpA, a company that operates in Chile and Peru offering payment and technology solution services aimed mainly at retailers and large chain stores in 5 countries in the region.
This acquisition helps Evertec strengthen its position as a leading player in the payment services arena, expanding its footprint in Chile and entering the Peruvian market. It also complements Evertec’s product offering with a suite of products mainly for the retail industry, focused on addressing business needs with B2B services.
“We are now building on our existing technology and product portfolio in Chile, and new opportunities are opening up in a new market that for us, Peru. Our service portfolio is continuing to grow, and now serves new business verticals in 26 countries throughout the region,” said Daniel Barba, Evertec’s Vice President of Integration & Growth.
Evertec is headquartered in Puerto Rico, has offices in 11 countries around Latin America, is listed on the New York Stock Exchange (NSYE), and enjoys a solid financial standing that allows it to drive innovation which is intrinsic of the company’s vision.
“We know that Chile, Peru, and other countries in the region are going through a great transformation in their electronic payment ecosystem. The payments market in the region is moving towards global standards, with a great drive for innovation, and Evertec is looking to play a leading role as an ally to all the economic sectors that need us, from financial institutions and fintechs to business and other organizations. We are going to provide them with technology, innovation, and digitalization of payments which should boost their growth,” said Guillermo Rospigliosi, Executive Vice President and Group Head of Latin America at Evertec.
This acquisition, which was priced at CLP 48.6 million (approximately USD $53 million), offers Evertec competitive advantages, such as:
- Technology that allows for optimizing the connections between large businesses and acquirers.
- Point-of-sale software featuring integration with digital wallets and transaction capture terminals.
- Solutions focused on digitalization, such as acceptance of payments via QR codes, payment buttons, and integrations with ERPs.
Evertec in Chile
In July 2017, Evertec acquired the company PayGroup, based in Chile, which offered payment processing services and technology for financial institutions in the region. With this acquisition, Evertec increased its regional coverage and served as a fundamental step to position itself as one of the leaders in financial transaction processing in Latin America.
Today, Evertec has a significant presence in Chile through its payment and collections products, as well as acquirer-processing operations that provide support to its main business partner, Getnet (part of Banco Santander). Getnet launched their new payment network, powered by Evertec technology, on March 1, 2021. Evertec enabled Getnet in the development of the new payments landscape in Chile, offering its regional experience, knowledge, technology, and best-in-class acquirer-processing solutions, contributing to the transformation of the payment ecosystem in the country. Now, together with BBR, Evertec will be able to offer a more robust offering in the B2B market and more comprehensive solutions for merchants, strengthening new payment verticals and industries with its digital approach.