SCOTTSDALE, Ariz. -- eFunds Corporation (Nasdaq: EFDS), a provider of electronic payment, risk management, information technology and business process management services has signed an agreement to provide ATM and POS transaction processing software to Suiche 7B, the largest ATM switch in Venezuela.
"eFunds' technology will help us improve the efficiency of our ATM switching and help us tap the growing point of sale opportunities in our country," said Giovanni Novellino, CEO of Suiche 7B.
Suiche 7B is licensing eFunds' CONNEX on IBM and CONNEX Management System to drive POS devices and authorize transactions as well as for settlement, fee billing and reconciliation. The software is currently being implemented at Suiche 7B facilities.
"This agreement helps us further our goal toward expansion in South America," said Pradeep Saxena, president, eFunds' International division.
Suiche 7B processes 6 million ATM transactions a month in Venezuela and is owned by 18 member banks. Worldwide, eFunds' software and processing services are responsible for handling more than 15 billion transactions a year.
