In a trend that gained strength the past year, payments and fraud-protection software and hardware providers continue to view Latin America as a land of opportunity.
As such, software provider Alaric International plans to get a foot in that door with the help of an established Latin American payments consultancy.
Alaric is partnering with Chile-based Integradores de Soluciones de Negocios S.A., known as ISN, to promote and distribute payment and fraud-prevention software to ISN retail and financial clients and to new customers in Latin America, London-based Alaric announced last week.
The move follows many similar initiatives from payments companies since Brazil and other countries in the region essentially restructured and modernized their payment systems in the past few years, Zil Bareisis, a London-based senior analyst for research firm Celent, tells PaymentsSource.
“Latin America is definitely one of the growth regions for cards and electronic payments,” Bareisis says.
Because acquirers and card processors seek to take advantage of the ongoing restructuring in Latin America, they open the doors for various other providers to come into the market, he adds.
This sets the stage nicely for Alaric and ISN, which has provided payments consulting in Latin America for nearly seven years, to form an effective partnership, Bareisis contends.
“Wherever the market is growing, not surprisingly, there is an opportunity for players with fraud detection and prevention technology,” Bareisis says.
ISN was seeking a partner with modern payments technology to address the growing opportunities in the Latin American market, Alaric noted in a press release.
ISN customers will have access to Authentic, Alaric’s electronic funds transfer authorization and routing system, and Fractals, the company’s fraud-prevention software, the Alaric press release stated.
Authentic recently achieved a benchmark of processing more than 10,000 transactions per second “on modest, low-cost hardware,” Alaric stated.
The objective for ISN is to become the leading supplier of payments and fraud technology in Latin America, according to Ruben Nanjari, ISN general manager.
“Our strong experience in conjunction with Alaric’s highly flexible and powerful products will enable us to fulfill this ambition,” Nanjari said in the press release.
ISN analyzes and implements transaction systems for its clients, and it provides post-sale support, the press release stated.
Other payments companies continue to strengthen their presence in Latin America.
VeriFone Systems Inc. touted its surging sales in Brazil as the key factor in its continuing growth in Latin America, which in turn provided the San Jose, Calif.-based payment-terminal maker with solid fourth-quarter earnings in 2011 (
In addition, companies such as Atlanta-based Acculynk, Inc. mention Brazil and Latin America as prime targets for its Internet PIN-debit payment products (
Indeed, 2011 opened with news that Atlanta-based Global Payments Inc. planned to start a credit and debit card processing service in Brazil, but it had no intention of buying established Brazilian merchant services providers, Cielo SA or Redecard SA (
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