In its two and a half years of operation in the country, Zunify has achieved significant growth and market penetration in Costa Rica by offering a digital payment solution that utilizes automation, digitization, and clean technologies to enable mobile payments at physical points of sale (via QR code), e-commerce stores, and remote payments.
Under the agreement, Evertec assumes Zunify’s portfolio of clients, financial permits, and technology usage licenses in the country.
Mike Vizcarrondo, Chief Innovation Officer of Evertec, highlighted the strategic importance of this acquisition, stating,
Working closely with clients in over 26 countries in the Caribbean and Latin America gives us a unique regional perspective that allows us to stay at the forefront of financial technology and payment trends in each of the countries where we operate. We believe in the potential of digital wallets, where users enjoy a better payment experience tailored to their needs and the evolving Costa Rican market, where Zunify has been growing as a fast and secure payment option for its clients and users."
For both companies, it is a priority to offer a comprehensive platform that allows users to address various financial needs. This synergy will result in the development of new functionalities and the enjoyment of more options in stores where they can make payments and get more out of their purchases. Currently, the application has more than 1,300 stores where users can make transactions.
With Evertec's experience and support, our users will benefit from expanded and automated services, as well as greater integration with financial institutions and stores in the network," said
Additionally, financial institutions and stores will have even more opportunities to develop strategic alliances that facilitate the monetization of each transaction and support customer retention with benefits and loyalty plans.
With this transaction, we strengthen our workforce, enrich our product and service offerings in the local market. This will lead us to continue investing in platform security, new functionalities, and improvements in user experience, maintaining the commitment to customer service excellence that has characterized both companies."
Recently, Evertec and Zunify brought together major financial institutions, integrators, and stores to exchange ideas about the future of the Costa Rican payment ecosystem and pave the way for the “Zunify experience,” a space to download and activate the application and use it to purchase various products simply, quickly, and securely.
Zunify customers in Costa Rica received official information from Evertec about the continuity of services and can expect a smooth transition and continuous improvements to the platform, as has been the case so far.