- Euronet (EEFT, Financial) and Prosegur Cash launch Independent ATM Network (IAD) in Peru and the Dominican Republic as part of the LATM joint venture.
- The initiative is supported by local banks Banco Alfin in Peru and Banco BHD in the Dominican Republic.
- The strategic partnership aims at rapid deployment in key locations, enhancing cash management and tourism-related services.
Euronet Worldwide Inc. (NASDAQ: EEFT), a global leader in payments processing, and Prosegur Cash have officially launched their Independent ATM Network (IAD) in Peru and the Dominican Republic. This initiative is executed under their joint venture branded as LATM, which aims to strategically deploy advanced ATMs in both countries.
This launch is in collaboration with Banco Alfin in Peru, known for its commitment to digitalization, and Banco BHD, the second-largest private bank in the Dominican Republic, providing immediate market credibility. The LATM initiative will feature state-of-the-art ATM solutions at strategic locations, particularly areas frequented by international travelers, thereby serving both local and tourist cash needs effectively.
The joint venture leverages Euronet’s Ren payments platform alongside their ATM management services and Prosegur Cash's operational expertise in cash management and hardware services. The ATMs will be uniquely branded with LATM, along with the local bank brands, ensuring high visibility and customer trust.
Nikos Fountas, EVP and CEO of EFT Americas, Europe, Middle East, and Africa at Euronet, expressed excitement over this launch, highlighting the potential for rapid growth in the region, facilitated by well-established partnerships and their global processing centers. José Antonio Lasanta, CEO of Prosegur Cash, echoed this sentiment, emphasizing the readiness for further expansion within Latin America.
