As part of the agreement, Cardtronics will place the Banorte brand on nearly 2,000 of its ATMs located in Latin America’s convenience store chain, OXXO.
The agreement with Cardtronics will increase Banorte-branded network to over 7,000 ATMs in Mexico.
The implementation of the ATM branding, planned to execute in two phases, has already begun and is expected to complete by the early 2010.
Cardtronics Mexico general manager Scott Abogado said that Cardtronics Mexico’s status as the largest non-bank ATM owner in Mexico plays a key role in helping Banorte build the nation’s largest fee-free ATM network in short-order.
"In addition to becoming the quantity leader in ATM locations, Banorte aligned with Cardtronics Mexico with the goal of complementing its bank-owned network with the most important retail locations for Banorte-branded ATMs," Abogado said.
Cardtronics currently operates more than 34,000 ATMs in the US, Puerto Rico, Dominican Republic, UK and Mexico.