Cardtronics (Nasdaq:CATM) has entered the Puerto Rican ATM market with its first customer in Puerto Rico, To Go Stores.
With over 33,000 ATMs in the United States, the United Kingdom, and Mexico, Cardtronics is the world's largest non-bank ATM operator. Cardtronics will install ATMs in 11 of the 26 To Go Stores locations in Puerto Rico, with the expectation of placing ATMs in the remaining 15 To Go Stores during 2010.
"We are very pleased to be entering the Puerto Rican market, but we are even more pleased to be doing so with such a strong launch partner as To Go Stores," stated Jorge Fernandez, Senior Vice President at Cardtronics. "To Go Stores is highly respected throughout Puerto Rico as one of the top convenience and fuel retailers on the island. The highly visible, high traffic locations are perfectly suited to ATM placement. By partnering with such a respected retail brand in Puerto Rico, Cardtronics continues to execute its strategy of placing ATMs with established, influential multi-unit retailers that lead their categories."
"Cardtronics is excited to begin operating in Puerto Rico," said Brian Archer, Chief Marketing Officer at Cardtronics. "Entering Puerto Rico is a natural extension of our continued efforts to enter profitable new markets outside of our core U.S. operations. As a market, Puerto Rico holds great promise with its strong economy, vibrant tourism trade, and close connection to the United States."
"To Go Stores is pleased to welcome Cardtronics to Puerto Rico and to be the launch partner for Cardtronics on the island," said Nelson Capote, President of To Go Stores. "Cardtronics is a very professional organization that values the customer as much as we do and has the operational and service capabilities and expertise to provide the superior ATM experience To Go Stores wants for our valued patrons."
Puerto Rico is a commonwealth of the United States located in the northeastern Caribbean east of the Dominican Republic. The island population of just under 4 million is bolstered by nearly the same number of tourists who visit Puerto Rico every year. As a United States commonwealth, Puerto Rico operates under U.S. laws and uses the dollar as its currency.