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Evertec to launch PlacetoPay platform in Puerto Rico during 2Q22

A little more than two years after acquiring the PlacetoPay platform from EGM Engineering Without Borders in Colombia, Evertec announced it will launch the technology in Puerto Rico during the second quarter of this year.

Evertec CEO Mac Schuessler confirmed the company’s plans in a call with industry analysts to discuss its first quarter results.

“PlacetoPay will replace our existing payment gateway in Puerto Rico with a better product offering that includes enhanced functionality for clients in the small and medium business sector, looking to accept electronic payments, including the acceptance of ATH,” he said.

“We believe the introduction of this gateway in our main market will put us in a much better position to capitalize on the growth of e-commerce in Puerto Rico and continue to drive growth in our payments segment,” said Schuessler.

The executive said Evertec plans to introduce the service in Chile and other countries in coming months, “and once we localize it in several countries, we will truly have a regional gateway.”

PlacetoPay is a platform that enables channels to sell and get paid online from any device through any channel and with all payment methods.

The platform also implements security modules to prevent fraud and provide personalized service throughout the e-commerce process, according to a description from Evertec.

During the first quarter of 2022, Evertec reported revenue of $150.2 million, an increase of 8% compared with $139.5 million in the prior year reflecting increases across all its segments.

Revenue in Puerto Rico benefited from sales volume growth, driven by a full quarter of revenue contribution from its expanded relationship with FirstBank, a higher average ticket and slightly higher spread, as well as growth in point-of-sale transactions processed and the continued growth of its digital solutions, ATH Movil and ATH Business, it stated.

Net Income attributable to common shareholders was $38.9 million, or $0.53 per diluted share, an increase of $3.4 million or $0.04 per diluted share as compared to the prior year.

Author Details
Author Details
Business reporter with 29 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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