IVI Checkmate Corp. announced a deal to promote credit and debit card acceptance for MasterCard merchant banks in Latin America.

IVI Checkmate is working with Groupe Ingenico, a French smart card and point of sale system provider, to develop systems for MasterCard banks looking to attract more merchants to the electronic payments business.

The goal is to provide the Latin American banks with "the latest product solutions for POS processing," IVI Checkmate said. The company said it hopes to capitalize on the rapid growth in cards and of new merchants accepting plastic.

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