Transbank S.A., a payments provider in Chile, announced an agreement with AEVI that the companies say will enable omnichannel experiences for customers at retailers and restaurants inside the country. 

Transbank will initially provide smart payment devices for merchants, including a point-of-sale and loyalty app, under a pilot program that is scheduled to begin Nov. 20, with 10 merchants in the capital of Santiago. The majority of the merchants will be in the restaurant industry. 

The companies are planning a soft launch of the program by the end of January 2020, when Transbank will bring specific apps and services for specific types of merchants. 

"Transbank will continue to lead merchant payments as the demand for new digital and connected commerce grows," Richardo Blumel, manager, division marketing and development at Transbank, said in a company release. "AEVI's open platform for next generation acquiring services gives us the flexibility to choose innovative partners relevant to our clients and rapidly bring their solutions to market in a secure environment."

Transbank has been the sole merchant acquirer and card issuer for Chile's banks for decades, where it was responsible for working with 170,000 merchants. However, a series of reforms were announced in April, designed to promote technological innovation. 

Cover image: AEVI.