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Visanet Brasil makes $7 million investment in national chip infrastructure

22 August 2001  |  3589 views  |  0 Visanet Brasil makes $7 million investment in national chip infrastructure

Visanet Brasil, the Latin American card processor owned by Visa and large Brazillian banks, has placed a $7 million order with Hypercom for the installation of smart card readers on point-of-sale terminals nationwide.

Under the terms of the agreement, Hypercom will install readers and software on tens of thousands of Visanet-branded Hypercom T7 terminals throughout the country.

"This agreement represents one important part of Visanet Brasil's efforts to upgrade its card reader base to accept smart cards. Our goal is to smart card enable 100% of our terminal base. When we achieve that, we will have more than 200,000 smart card capable terminals. That is far ahead of virtually any other country in Latin America," says Fernando Castejon, vice president of products, Visa do Brasil.

Visanet currently has 140,000 POS terminals installed at 600,000 affiliated merchants.

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