Ingenico SA will provide the contactless payment terminals that Banco Nacional de Mexico, or Banamex, plans to make available for up to 30,000 retailers in Mexico.
Banamex is the first bank implementing contactless payment technology in Mexico, Ingenico states in a June 20 press release.
Nearly a year ago, Banamex announced it was ready for its first phase of a contactless payments initiative, planning to provide 12,000 contactless VeriFone Systems Inc. terminals and issuing up to 100,000 MasterCard PayPass debit and credit cards in and around Mexico City.
Ingenico states the bank has now issued more than 1 million contactless cards in the Mexico City region.
Ingenico does not indicate if the terminals serve as a replacement of, or an addition to, any previous terminal commitments the bank may have made, stating only that the bank underwent "months of tests with various payment technology and hardware providers" and chose to introduce Ingenico's payment terminals.
Banamex will provide retailers with the Ingenico iCT220 and iCT250 countertop terminal models, as well as the wireless iWL220 portable terminal and a PIN pad.
The bank has placed about 2,000 terminals during the first stage of the project, and it plans to deploy the remaining terminals by the end of the year.
The initiative represents "one of the most significant expansions of contactless technology in the country," Ingenico states.