ST. PAUL, Minn. -- Deluxe Electronic Payment systems (DEPS) announced today that Unired, a regional network comprised of three of the largest banks in Puerto Rico, selected DEPS as its electronic funds transfer processor.
DEPS will provide network access for Unired and process both online and offline transactions for each of the three banks.
Unired was founded in 1983 by Banco Santander, Banco Bilbao Vizcaya and Citibank Puerto Rica, respectively the second, third and fourth largest banks in Puerto Rico. Unired will process 30 percent of the ATM and POS transactions in Puerto Rico. Unired expects other Puerto Rican banks to join the Unired network.
"Our relationships with mainland networks allow Unired member banks to attract consumers by offering greater ATM access and convenience," said Bob Hill, first vice president of sales at DEPS.
Until now, Puerto Rican banks' access to mainland networks was limited. With DEPS, Unired's customers will have greater ATM access both on and off the island.
"Prior to Unired, the Puerto Rican EFT market lacked competition," said Mr. Bauzo. "Unired adds the competitive element that will ultimately result in significant benefits for consumers."
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