VeriFone Systems, Inc. has announced that Banco Nacional de Costa Rica has selected VeriFone’s VX Evolution line of portable EMV and NFC capable point of sale terminals to enhance payment mobility and security for merchant customers throughout Costa Rica.
BNCR’s migration to VeriFone’s VX Evolution terminals will enable its merchants to accept all types of payments—including traditional mag-stripe as well as EMV and NFC—from customers at and beyond the counter while complying with PCI 3.0 standards. The bank expects to install 14,000 of VeriFone’s VX Evolution terminals each year for the next four years to its installed base of approximately 32,000 Hypercom terminals.
“Merchants throughout Costa Rica have traditionally only accepted cash instead of card-based payments,” said Marco Vinicio Calderón, Director of Electronic Means of Payment at Banco Nacional de Costa Rica. “Now, they want to better serve customers by engaging them in any retail environment and accepting card-based payments as well as emerging forms of payment such as EMV and NFC. Partnering with VeriFone allows us to meet these demands by providing a brand of terminal with demonstrated reliability and support.”
“Banco Nacional de Costa Rica is an example of a financial institution that is on the leading edge of payment infrastructure innovation in Latin America,” said Fernando Lopez, executive vice president of Latin America and the Caribbean for VeriFone. “Through its phased installation of VX Evolution terminals, it will revolutionize the way its merchants conduct business and interact with customers while enabling them to meet future changes in payments and consumer behavior.”
