VeriFone Holdings Inc., a provider of secure electronic payment solutions, has announced that Mexico's largest bank, Bancomer, will deploy VeriFone's recently released ATM-kiosk hybrid at one of the country's largest drug store chains.
The MX ATM functions as a cash-dispensing ATM and offers value-added self-service options, such as mobile top-up, bill payment, money transfer, coupon printing, coupon redemption and reloading of prepaid cards. Fernando Lopez, senior vice president and general manager for VeriFone's Latin American and Caribbean operations, says the deployment will cater to the growing unbanked and underbanked Hispanic market:
Bancomer is using (the) MX ATM to dramatically expand services to the unbanked and underbanked by locating payment kiosks in convenient retail outlets. (The) MX ATM is purpose-built to ensure integrity of remote operations and can be customized to meet the specific needs of different organizations.
According to VeriFone, Bancomer will complete a $10 million expansion of the deployment in 2010, which will represent 10 percent of the financial institution's ATM-network footprint.
User Comments