STRATEGIC PARTNERS
February 25, 2002
MIAMI and SAN JOSE, Costa Rica - Capture Systems, a provider of off-premise ATMs for Latin America and the Caribbean and marketing solutions for the retail and financial industries in the region, and TII-Smart Solutions, a provider of financial transaction automation solutions in Latin America, have entered into a joint venture to open a processing center in Mexico.
Under the terms of the agreement, a new company has been formed to switch and process ATM, POS and e-commerce transactions from retailers and other proprietary card customers. The new company, PROCESA S.A de C.V, is based in Mexico City.
"We have been working with customers in Mexico for close to 15 years and appreciate the opportunities that this market has to offer," said Jorge Fernandez, Capture Systems' president and the new company's general manager. "We intend to fill a much needed gap in the market for processing non-banking transactions. The early enthusiasm about our offering is a true testament of our convictions, and we look forward to maximizing our opportunities in this market."
"After installing over 60 switches and processors in Latin America with our TranServer and TransActions platforms, as well as operating our own processing centers in Central America for 15 years, we felt that the time was right to enter the Mexican market to address a very special and underserved segment of the market," said Adrian Lachner, TII's founder and chief technical officer.
Lachner added, "Mexico is the most stable market in our region. Because of this, coupled with the many years of experience and market know-how between our companies, we see a world of opportunities with our new venture."
PROCESA S.A de C.V is housed within the Diveo facilities in Mexico City, which recently received the "Smart Building of the Year" award from the Mexican Institute of Smart Buildings. The building was specifically built to be a data center, featuring several levels of power backup and access to a variety of communications options and several levels of security.
