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Discover And EVERTEC Partner To Provide ATH Financial Institutions In Puerto Rico The Ability To Issue Signature Debit Cards

March 21, 2012

RIVERWOODS, Ill. & SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Mar. 21, 2012-- Discover and EVERTEC, Inc. have signed an agreement that provides ATH participating financial institutions in Puerto Rico the ability to issue Discover cards for POS signature debit and thereby offer their customers PIN-based ATH debit cards with signature functionality via the Discover Network. This agreement will effectively expand the use of such cards to POS terminals worldwide wherever the Discover and Diners brands are accepted.

Furthermore, customers will be given added convenience because they can use these cards to make online purchases, as well as payments at places like parking terminals, where PIN debit transactions are typically not an option.

“As we continue to expand globally by partnering with key networks throughout the world, we look forward to welcoming ATH to the Discover family of networks and strengthening our presence in Puerto Rico and the Caribbean,” said Diane Offereins, EVP and President of Discover Payments Services. “We believe that ATH financial institutions will see immediate, clear benefit from our compelling value proposition, card features and the flexibility the Discover Network provides.”

Mike Vizcarrondo, EVP of EVERTEC, Inc. added, “we see Discover as a solid partner for not only growing the acceptance of our brand outside of our main markets, but also for offering more options to ATH member institutions.”

EVERTEC is 51% owned by an affiliate of Apollo Management VII, L.P., a leading private equity and capital markets investor, and 49% owned by Popular, Inc., the largest financial institution in Puerto Rico and the Caribbean. EVERTEC owns and operates the ATH network, the leading debit payment and ATM network in Puerto Rico.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit http://www.discoverfinancial.com.

About EVERTEC, Inc.

EVERTEC, Inc. is a diversified processing business, offering transaction and payment processing, merchant acquiring and processing and business process management solutions in Puerto Rico and certain countries throughout the Caribbean, and Latin America. EVERTEC operates in three reportable business segments organized based on the nature of products and services: transaction processing, merchant acquiring and business solutions. EVERTEC owns and operates the ATH network, the leading debit payment and automated teller machine (“ATM”) network in Puerto Rico.

EVERTECs products and services include point-of-sale processing, network and switch services, automated teller machine driving services, core bank processing, business process outsourcing solutions, technology infrastructure management, financial services applications and merchant acquiring services.

Headquartered in San Juan, Puerto Rico, EVERTEC has approximately 1,600 employees in 6 countries throughout the Caribbean, and Latin America. EVERTEC is 51% owned by an affiliate of Apollo Management VII, L.P., a leading private equity and capital markets investor, and 49% owned by Popular, Inc., the largest financial institution in Puerto Rico and the Caribbean. For more information about EVERTEC, please visit www.evertecinc.com.

Source: Discover Financial Services

Discover
Katie Henry, 224-405-4437
kathrynhenry@discover.com
or
EVERTEC
Wanda Betancourt, APR, 787-759-9999
wabetancourt@evertecinc.com