Due to the efforts of FIMPE and VeriFone - its primary supplier of payment solutions -- both the number of POS transactions and total sales volume at POS increased 49% during 2005.
This way, small businesses can offer better service to a larger clientele and are brought closer to the wide array of financial products offered by banks," said Roberto Isaac RodrE guez, General Director and Coordinator of the FIMPE.
FIMPE is a non-profit private fund formed by financial institutions to promote and extend the benefits of access to the electronic payments network to small-to-medium size businesses, and to foster the culture of electronic payments among merchants and consumers.
The new contract is the second to be announced by VeriFone under the FIMPE initiative to triple from 150,000 to 450,000 the installed base of credit and debit card acceptance systems in Mexico over the next five years.
The systems, all of which are IP-enabled for high-speed processing, will be used throughout the country and VeriFone has created a new services organization to speed deployment of systems in the FIMPE program.
FIMPE -- the Fund of Infrastructure of Electronic Payment Means (FIMPE) -- is a joint venture of 15 Mexican banks that was formed by the Banks Association of Mexico (ABM) to expand the use of electronic payments in the country.