Evertec signs agreement with Caja Popular Mexicana to launch new card for coops

SAN JUAN, PUERTO RICO – October 27, 2021 – EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that the Company was selected as the issuer processor of a new payment product for Caja Popular Mexicana’s (“CPM”) affiliate members. CPM, Mexico’s largest savings and loans cooperative with over 3 million members and 70 years of experience, decided to expand its payment offerings by introducing a new Mastercard® credit card on the Evertec PayStudio platform® which they launched to the national market during an event held earlier this month.

Mac Schuessler, President and Chief Executive Officer at Evertec stated, “The trust placed in Evertec by Caja Popular Mexicana to support its business strategy further solidifies Evertec’s position as one of the leading processors in Latin America. This agreement is a significant step that will allow CPM members to have more flexibility and increased access to better payment methods while expanding payment acceptance within Mastercard affiliated merchants.”

While Alfonso García Moreno, Deputy Commercial Director of CPM affirms, “our interest is to facilitate more efficient administration and management of credit products for our associates, while offering them differentiated product options that take CPM services to the next level. We found in Evertec the strategic partner we needed, as well as in PayStudio the flexibility to meet our business needs and support our continued growth and presence, not only in Mexico, but also throughout the region”.

This agreement leverages Evertec’s PayStudio multi-issuer platform which offers CPM the ability to configure its credit products all within one system while also integrating into Evertec’s proprietary card monitoring and fraud prevention system, RiskCenter 360, guaranteeing both security and transparency. Likewise, CPM will take advantage of value-added services such as Back-office processing, Call Center management and Chargeback operations that are incorporated into the product suite.

With this new agreement, Evertec continues to position itself as an ideal partner for customer-centric organizations, providing them with the technology solutions that address their clients’ needs to digitize transactions and facilitate payment processes in Latin America and the Caribbean.

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