Telecom Lead America: VeriFone Systems will provide the
merchant payment solutions for a contactless payment rollout in Mexico City by
the Mexican bank Banamex.
Banamex, part of Grupo Financiero Banamex and a member of
Citi, is implementing the contactless payment deployment.
In the first phase, several thousand VeriFone
contactless-enabled card acceptance systems will be deployed to 1,900 merchants
in the Mexico City metropolitan area.
The bank is also issuing 100,000 contactless credit and
debit cards to begin the transition to the new innovative way of payment.
The bank will deploy the VeriFone VX 520 to merchants who
use traditional standalone countertop systems, and the VX 820 advance PIN pad
to larger retailers that integrate payment systems to electronic cash register
VeriFone Country Manager Erick Lopez Sanchez said
VeriFone is the natural choice to provide the merchant acceptance solutions,
based on its leading technology and experience in Mexico.
By end of 2012, the bank expects to have issued 1 million
contactless cards and to have deployed 12,000 payment acceptance systems. For
purchases of less than 250 pesos (approx. US$15), contactless payments will
require no signatures, resulting in quick service in locales such as fast food
restaurants, bookstores, pharmacies, magazine stands and other types of