EVERTEC, the ATH Networkâs processing firm for Latin America and the Caribbean, today announced an agreement with NYCE Payments Network, LLC, a leading U.S. payments network and a subsidiary of Metavante Corporation, that will enable purchases throughout the U.S. for holders of ATH debit cards issued by ATH Network-affiliated banks and cooperatives in Puerto Rico and the U.S. Virgin Islands.
The new service will allow customers to use their ATH debit card and PIN to pay for purchases at any U.S. merchant that accepts NYCE. âEach year, Puerto Ricans make millions of trips to the U.S. mainland,â said ATH Networkâs first vice president, Jorge HernÃ¡ndez. âThis agreement enables them to make purchases using their ATH debit card as easily as they do in Puerto Rico.â
âBy partnering with EVERTEC and the ATH Network, NYCE continues to deliver on its mission of expanding the benefits from electronic payments as broadly as possible,â said Frank DâAngelo, group president, Metavante Payment Solutions.
Added Steve Rathgaber, NYCE president and chief operating officer: âNYCE and EVERTEC together are increasing PIN debit purchasing power for ATH cardholders, and weâre delivering new, cost-effective payment card transactions to NYCE retailers.â
The ATH-NYCE partnership makes a potential 2.2 million PIN debit cards eligible for use at NYCE-affiliated retailers. Additionally, ATH Network affiliated financial institutions, including cooperatives, will offer their clients the flexibility of using their debit cards at any of the more than 1.3 million retailers that accept NYCE.
With this service, the ATH Network is expected to generate more than 1 million annual transactions in the U.S. According to HernÃ¡ndez, âConsumers should be confident that all their transactions will be made according to all the same security protocols, using their PIN, as they do in Puerto Rico.â
âThis new partnership will be of particular benefit to young Puerto Rican residents studying in the U.S.,â HernÃ¡ndez said. âNow they will be able to make secure payments to participating businesses, without first having to find an ATM to withdraw the cash their parents have deposited for them back home. At the same time, the ability to make purchases at most stateside businesses using an ATH debit card eliminates the need for travelers from the Island to carry large amounts of cash or purchase travelerâs checks.â
HernÃ¡ndez added, âBy using their PIN just as they do in Puerto Rico, ATH Network users can rest assured that their transactions will be processed with the speed and security to which theyâre accustomed.â