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Mastercard opens P.R. office in Hato Rey to expand e-payment ecosystem

Technology giant Mastercard officially opened its local office in Puerto Rico, which company officials described as a “milestone for the local market.”

“The opening of the Puerto Rico office demonstrates Mastercard’s commitment to building an innovative and secure payments ecosystem for the island and the Caribbean” said José Vargas, Mastercard Country Manager for Puerto Rico and the U.S. Virgin Islands.

“Our underlying goal is to expand electronic payments ecosystem on the island, and I am excited at the impending growth in Puerto Rico,” he said.

Vargas will lead a team focused initially on sales, market development and products, soon to be expanded. The professionals based out of Hato Rey are tasked with identifying business opportunities and delivering best-in-class services and support for Mastercard’s local customers.

The main goal is to bring new technologies to the island that will allow Puerto Ricans to have a seamless and secure experience in both physical and digital commerce, executives said.

Via its own technologies or from the companies Mastercard acquired over the past few years, the payments company can provide the most reliable and efficient solutions to its business partners, such as authentication (3DS), tokenization (signature solution MDES), and real time payments, among others. Additionally, the company provides an array of value-added services, consulting and data analytics to address business pain points via Mastercard Advisors.

“Mastercard is steadily and strategically expanding its footprint in the Caribbean,” said Marcelo Tangioni, president of the Caribbean Division.
“The opening of the Puerto Rico office — the second in the Caribbean in less than one year — is a giant leap in our regional expansion strategy. In the upcoming years, we expect to continue consistently expanding our presence,” he said.

Mastercard has already confirmed its third Caribbean office scheduled to open in October in Kingston, Jamaica.

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This story was written by our staff based on a press release.

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