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LatAm Charges Up VeriFone

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Latin America is one of the fastest-growing markets for VeriFone. And the outlook remains bright thanks to increased credit card usage.

BY CHRONICLE STAFF

In Mexico, a McDonalds customer is buying a Big Mac with a milkshake and fries. In Brazil, a construction worker is using a card to withdraw cash from an ATM. In neighboring Argentina, a passenger of the metro system is paying with a prepaid card. And in Colombia, a lottery customer sitting in his car just bough what he hopes will be the winning numbers.

What do they have in common besides living in Latin America? They all used products and solutions from U.S.-based VeriFone, a leading supplier of electronic payment equipment and solutions.

HIGHER THAN ASIA

Latin America is now one of the fastest-growing markets for VeriFone. Sales in the region grew by 78 percent to $42.7 million in the third fiscal quarter. For the nine months ending July 31, VeriFone registered Latin America sales of $124.8 million, or 68 percent more than the same period last year.

"We are very happy with the results," says Fernando Lopez, VeriFones vice president and general manager for Latin America

VeriFones Latin America sales are nearly three times higher than the...



Keywords: CEAGESP, Lipman, Visa

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