
21 minute read
evertec sees merchaNt saLes Grow
Evertec Reports Third Quarter 2021 Results
Merchants show healthy sales volume growth
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Rosario Fajardo
rfajardo@wjournalpr.com @RosarioWJournal
Evertec Inc. announced that its revenue increased 7 percent to $145.9 million for the third quarter (Q3) ended Sept. 30, 2021 from the $136.5 million of the prior year quarter.
“We are pleased to have delivered strong third quarter results, driven by continued robust payment volume growth in both Puerto Rico and Latin America. We remain focused on innovation and execution on new contracts, and this has led to expansion in existing markets,” said Mac Schuessler, the company’s president and CEO. “In Puerto Rico, the continued effect from federal funds, increased digital usage and return to some pre-COVID seasonality drove strong transaction volumes. In Latin America, we are seeing strong growth, driven by both recent implementations as well as organic growth from existing clients,” he stated during the earnings conference call. Specifically, Evertec reported that it also continues to benefit from increased transactions in Puerto Rico, driven by the continued effect from the inflow of federal funds to fight the coronavirus pandemic, and increased revenue from its digital Evertec’s Mac Schuessler >Courtesy payment solutions.
The company is a leading fullservice transaction processing business in Puerto Rico, the Caribbean, and Latin America.
Detailing Evertec’s update on the economic situation in Puerto Rico, Schuessler said: “We saw continued strong volume and revenue growth in the third quarter. The ongoing effect from the inflow of Federal stimulus and EBITDA (earnings before interest, taxes, depreciation and amortization) funds earlier in the year was a major driver of growth as well as a pick up and back-toschool spending in August, a sign that we are returning to preCOVID spending patterns.
“Merchant acquiring sales volume growth was approximately 23 percent year-over-year. And average ticket is coming down on a year-over-year basis, but remains above pre-pandemic levels. We remain pleased with the growth of ATH Movil, which was In fact, up 24 percent for the quarter as we continue to see a shift in preference to digital payment Merchant methods,” he added. acquiring sales Turning to the operating volume growth was environment in Puerto Rico, approximately 23 Schuessler reported that percent year-over- vaccination rates continue to year. And average increase with over 70 percent ticket is coming down of the population now fully on a year-over-year vaccinated, the highest level basis, but remains of any U.S. state or territory as above pre-pandemic reported by the U.S. Centers for levels. Disease Control and Prevention. “Hospitalization rates are down over 80 percent from Delta variant peaks back in August and this is moving us closer to a more normal environment with the government continuing to loosen restrictions. The third quarter also had the highest hotel occupancy rates since the beginning of the pandemic and we saw the first cruise ship docked in Puerto Rico since March of 2020,” he noted.
In other news, Evertec reported that revenue growth in Latin America was driven mainly by client implementations in the beginning of the current year, organic growth from existing customers and the continued expansion of its Place to Pay e-commerce platform. These increases were partially offset by the one-time impact in the prior year quarter from a contract with the Puerto Rico Department of Education, the company noted.
Other Q3 2021 highlights include:
GAAP (generally accepted accounting principles) Net Income attributable to common shareholders was $35.3 million, an increase of $0.9 million compared to the prior year.
Adjusted Net Income was $45.0 million, a decrease of 5 percent compared with $47.2 million in the prior year. The decrease was primarily due to a higher effective tax rate driven by certain discrete items in Evertec’s Latin America operations.
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Contáctanos antes de cancelar el servicio para continuar con los créditos mensuales restantes o los créditos se detendrán y deberás pagar el saldo restante en tu plan de pago a plazos requerido (iPhone 13 128GB: $799.99).
Oferta disponible solo por Ship-To. Impuestos sobre el precio del equipo antes de los créditos se pagan al momento de la compra. Oferta por tiempo limitado, sujeta a cambios. Válida hasta el 1 de noviembre de 2021. Requiere crédito, servicio en plan Magenta® Max o Magenta® Plus, y trade-in de un equipo elegible (iPhone 12 Pro/Pro Max, iPhone 11 Pro/Pro Max, iPhone 12/12 mini, iPhone 11, iPhone X/XR/XS/XS Max; Samsung Galaxy S20/S20+/S20 Ultra/S20 Fan Edition/S21/S21 Ultra/S21+/Note10/Note10 Lite/Note10+/Note20/Note20 Ultra, Z Flip 5G, Z Fold2; Motorola razr 5G; OnePlus 8 5G/8T+ 5G). En tiendas o llamadas de servicio al cliente, se puede requerir un cargo de $30 por asistencia en la actualización. Hasta $800 vía créditos por trade-in y créditos mensuales a tu factura; debes estar activo y al día para recibir los créditos; pueden demorar hasta 2 ciclos de facturación. Máx. 4/cuenta. No puede combinarse con otras ofertas o descuentos. Forever Upgrade: Oferta por tiempo limitado, sujeta a cambios. Válida hasta el 1 de noviembre de 2021. Haz trade-in de tu iPhone actual por un nuevo iPhone elegible cada 24+ meses. El valor de trade-in se basa en el precio regular de venta, hasta $800, y es aplicado al precio de venta del equipo nuevo; no tiene valor en efectivo. Requiere crédito y equipo elegibles, y plan de pago a plazos requerido en la misma línea; contáctanos antes de cancelar el servicio después de la actualización para continuar con los créditos restantes a tu factura o los créditos se detendrán y deberás pagar el saldo restante. Si haces el intercambio antes de los 24 meses, eso cambia el valor del trade-in y el tiempo para redimir. El programa puede terminar y es sujeto a cambios en cualquier momento. Hasta $800 vía crédito por trade-in y créditos a tu factura; debes estar activo y al día en el plan Magenta® Max para recibir los créditos; pueden demorar 2 ciclos de facturación. Máx. 1/línea y 4/cuenta. No puede combinarse con otras ofertas o descuentos (por ej. Ofertas de otros equipos en la misma línea o descuentos en servicio). Planes de Pago a Plazos (EIP): Disponibilidad de oferta y monto de los pagos a plazos estarán sujetos a aprobación de crédito. Requiere pago del IVU, pago inicial (de aplicar) y pago de la parte no aplazada al momento de la compra. El saldo se cancela en pagos mensuales. Pago por equipo es adicional al pago mensual de servicios. Ejemplos reflejan pago inicial y pagos mensuales para clientes con crédito excelente; cantidades pueden variar para otros clientes. Se pueden aplicar impuestos y cargos por pago tardío o por falta de pago. Control de la red: el servicio puede ponerse lento, suspenderse, cancelarse o restringirse por mal uso, uso anormal, interferencia con nuestra red, o con nuestra capacidad para brindar un servicio de calidad a otros usuarios, o por uso inmoderado de roaming. Durante congestión, clientes que usen >50GB/mes pueden notar velocidades reducidas hasta el próximo ciclo de facturación debido a priorización. Uso en el equipo tiene mayor prioridad que el uso mediante enlace, lo cual puede resultar en velocidades mayores para la data usada en el equipo. Sujeto a los Términos y Condiciones (incluyendo cláusula de arbitraje) de T-Mobile® disponibles en www.t-mobilepr.com. Las imágenes de los equipos y pantallas son simuladas. iPhone es una marca comercial registrada de Apple, Inc. T-Mobile, el logotipo de la T, Magenta y el color magenta son marcas comerciales registradas de Deutsche Telekom AG. ©2021 T-Mobile Puerto Rico, LLC.
opinion

Chantal Benet
Inteligencia Económica
Inflation has been at the top of everyone’s minds for the past months since in the United States it reached a 13-year high, and a 15-year high in Puerto Rico. We know some of the reasons why there has been inflation, but our true worry is… is it here to stay? CNBC just released a poll that shows that people are as concerned in America about inflation as they are about COVID-19. In Puerto Rico, Inteligencia
Económica does a monthly survey that shows inflation as one of the top-three concerns for Puerto
Ricans, alongside COVID and crime. A lot of this is due to people feeling it at the cash register. It began last year when we saw increases in food prices, then during the summer with increases in car prices and now it’s finally reached everywhere else. The one that concerns me is rent and new home prices, which have not been driven by increases in metro areas in the U.S. or Puerto Rico, but by aggressive buyers, mostly corporations, with sufficient capital to price out any middle- or working-class family who are confronting increasing prices everywhere they look. The era of uncomfortable inflation is here. Let’s begin with the causes. The first is the supply-chain backlog, where people are worried not only about their holiday gifts but also about their everyday needs. While Puerto Rico hasn’t seen inventory shortages like in the U.S., there are many
U.S. jurisdictions where there have been difficulties in restocking shelves, leaving many families worried about their basic necessities. At the moment, supply-chain issues will likely linger until at least the summer of 2022. What should worry us is that there are other drivers of inflation that are picking up, such as labor shortages and increases in the minimum wage, which have been felt in increasing prices in restaurants, home goods, retailers, and more. We will discuss in another article how the labor market is behaving, and it will likely not go back to normal in the short term. To summarize, in the
U.S., millions of workers have either resigned from their jobs or have gone on strike because of poor labor conditions and fatigue. There are three important points to include here. First, the countless number of employees who were worked to the bone because they were deemed essential, only to encounter their employers’ hesitancy to raise wages. Second, large chain stores received huge government bailouts while the stock market soared to record highs, improving quality of life and income for executives and middle management, but not “trickling down” to white-collar workers. Third, a 30-year high in
Is Inflation Here to Stay?

Retailers, auto makers and a wide range of manufacturers have all warned investors that a supply chain crunch and higher raw materials costs are adding to expenses and hurting revenue. >Archive
Supply-chain issues will likely linger until at least the summer of 2022. What should worry us is that there are other drivers of inflation that are picking up, such as labor shortages and increases in the minimum wage, which have been felt in increasing prices in restaurants, home goods, retailers, and more.
new businesses, showing many employees have moved to being their own bosses. One man’s labor shortage is another man’s path to a higher income. Average salary for workers in the U.S. is expected to increase by 3% in 2021 and another 3% in 2022, the largest increase in more than a decade. In the case of Puerto Rico, the government increased the minimum wage from $7.25 to $8.50 an hour, the only jurisdiction to increase the minimum wage during the pandemic, and yet many businesses have still faced a labor shortage. This translates into an increase in prices, which won’t decrease once the supply-chain issues stop. And while increasing wages are welcome news, increasing inflation? Less so. So, the reality is… we don’t know for how long we’ll see inflation above 1.5%, but the signs are clear that at least in the U.S. and in Puerto Rico, inflation will likely continue to be a concern until well into 2022.
How the Toy Shortage Could Affect Your Holidays
Tips for saner, less stressful gift buying
NerdWallet via AP
Many popular toys may sell out long before the holidays, thanks to ongoing pandemic-related disruptions. This could be a disaster — or a great opportunity to reshape how we celebrate.
We can shop earlier and more thoughtfully, resisting the last-minute scramble for “must-have” items that really aren’t. We can choose classic over trendy, handmade over mass-produced. We can swap experiences for stuff and even make this a learning opportunity for our kids.
This approach requires some strategizing but could result in a saner, less stressful holiday.
Why toys may be in short supply
Holiday shortages are nothing new. Most years, some trendy toy or gaming console becomes the hot, hard-to-find item when manufacturers and retailers misjudge demand. What may be different this year is the number of toys in short supply. Most toys and electronics are manufactured in Asia, but bottlenecks at ports are delaying deliveries, while shipping costs have skyrocketed. The cost for shipping containers has risen during the pandemic from about $3,500 to “well over $20,000,” says Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation.
“The supply chain throughout the pandemic has been stretched from end to end,” Gold says.
Higher costs are often passed along to consumers as higher prices. That, and the potential for shortages, should encourage people to start shopping as early as possible, says Jillian Wahlquist, vice president of Tom’s Toys , an independent retailer with three locations in California.
“If there’s a special toy or something that parents are really looking for, buy it now,” Wahlquist says.
How to avoid the mad scramble for toys
Of course, panic buying early in the season can be just as destructive to your budget as waiting until the last minute. Consider drafting a holiday budget now that incorporates all your expected costs, including gifts, decorations, entertaining and travel. Write down all the people you expect to buy presents for, along with the amount you intend to spend, then make adjustments to keep your spending in line with your means to avoid going into debt.
If you’re buying a gift for a child and not sure what they want, or are concerned that their interest will wane by the holidays, consider some alternatives. The first substitute is to choose classic toys that retain their appeal over time. Board games, art supplies, crafting materials and building toys such as wooden blocks are some possibilities.
Another option: handmade gifts. If you aren’t crafty, you can buy wooden toys, stuffed animals and other handmade options at crafts fairs, farmers markets and online creative marketplaces like Etsy. These can get pricey, but the quality and charm may justify the cost. Plus, you’re benefiting individuals and small businesses rather than retail giants.
Giving experiences can be another great option, especially for teenagers. Researchers at the University of Illinois Chicago found that kids ages 3 to 12 prefer material gifts, while older children get more happiness from experiences. Teenagers have better developed memories and can recall details of an event, which contributes to lasting happiness, the researchers found. Younger children have a harder time remembering and appreciating past experiences, although sharing photos and videos of the event can help, according to the researchers.
Experiences can include passes to a rockclimbing or trampoline gym, a mini-golf course or an amusement park; travel; or lessons to spark or feed a particular interest, such as horseback riding, coding or baking. In normal times, tickets to sporting events, concerts or shows also would be an option, but these may not be feasible or desired during the pandemic.
Play the memory game
Speaking of memory, try this with your kids: Ask them what their favorite gift was last year, and the year before, and the year before that. Even teenagers with well-developed memories may have trouble recalling presents of the past.
The point isn’t to shame kids for not remembering. Rather, you can share the memories you do have, which likely have more to do with the time you spent together than with what you gave each other. Together, you might create a list of what you want to do as a family during the holidays.
When my daughter was little, I created an Advent calendar that included one activity each day, from baking cookies to making gingerbread houses to checking out the holiday lights in a nearby neighborhood. She’s now in college and has good memories of what we did together, long after the toys, games and stuffed animals have gone to the nonprofit Goodwill.
We can’t wave a magic wand that unkinks supply chains, fills store shelves and ensures every wish is granted. Focusing on what we can control, though, helps us cope with what we can’t — at the holidays and at any time of year. - This column was provided to The Associated Press by the personal finance website NerdWallet.

The Top Trends in Women’s Wellness
For fitness, nutrition and self-care
Women’s Wellness
The top trends in women’s wellness continue to have a dual focus: maintaining physical fitness and a healthy immune system through nutrition and exercise and cultivating a peaceful heart and mind through self-care and mindfulness. These wellness pillars will ensure a strong start to your fitness goals and keep you healthy in body, mind and soul for years to come.
1. Fit, Fabulous and Fierce
Physical fitness is instrumental in maintaining a healthy immune system, getting quality sleep, and feeling good about yourself. It may not surprise you to hear that the top workout trend is still Virtual Fitness. Not only are big-name virtual platforms seeing a boom in membership, but smaller gyms and clubs are also offering workouts and classes online, and trainers are offering personalized virtual coaching. In conjunction with wearable fitness trackers and devices, exercises have never been more accessible or connected.
2. Balanced Living
In addition to working out, eating well is the other side of the physical fitness coin. Many of us are still spending more time at home, and as a result, we’re eating at home more. This means, instead of grabbing a salad from the café across from the office or throwing together a quick lunch to take along, we’re trying to use the options in our pantry and refrigerator. With full work and family schedules, though, it’s still easiest to have your daytime meals ready to grab. Consider these quick nutrition ideas to help you stay balanced and meet your dietary goals: • Breakfast: Overnight oats or make-ahead breakfast scrambles can keep your early mornings on track and your blood sugar stable. • Dinner: We’re flipping the order around here because dinner leads to lunch - make a larger, nutrient-packed recipe than you
usually would for dinner to ensure you have enough lunch the next day. Instant Pot recipes are great for quick prep and tasty results! • Lunch: Store your dinner leftovers in individual servings so you can grab them quickly during your lunch break.
Alternatively, toss together some dark leafy greens, a lean protein like legumes or fish, and a splash of healthy fats like an olive oil dressing.

3. Skincare 365
Personalized skincare is the new standard. We’re done buying off-the-shelf serums and moisturizers because everyone’s skin is different, and the beauty industry is finally catching up. You’ll be able to access these bespoke beauty products through everything from tailored online quizzes to personal skincare consultants. Neutrogena offers a customized face mask through their 3d MaskID mapping app, while Atolla creates a unique serum based on your answers to an online quiz and then refines it each month based on your feedback. Whatever type of customization you’re looking for, there are tons of brands creating products just for you and your skin.
4. Mindfulness & Meditation
This year has seen even more emphasis on creating space and balance in your life through mindfulness and meditation to complete your wellness routine. Online mindfulness and meditation retreats will dominate for the foreseeable future. While you may not be able to join others for in-person hikes or yoga classes, the dedicated company of other participants and the compassionate guidance of a mindfulness teacher will undoubtedly help you stay grounded and get the most out of your intention to be more mindful this year. For a smaller, daily dose of mindfulness, there are more than a dozen apps available to give you a gentle reminder to breathe or a full guided meditation. Take a look at Insight Timer, Smiling Mind, or Headspace to get started.
The past two years have been full of challenges and victories for all of us. Set yourself up for success with these wellness tips and trends.

>Courtesy
Panoteca San Miguel Becomes a Brick and Mortar Shop
Local bakery finally opens its doors to loyal customers
Claudia A. Guerrero Negrón, Collaborator
Panoteca San Miguel, which used to be a ghost bakery that operated on an order-pickup basis, now has its very own spot in Avenida José de Diego, in the Monacillo Urbano area of San Juan. The bakery has opened its doors to greet customers with new offerings of wine, cheese, jams, freshly made sandwiches and pizzas, as well as quality coffee with a barista in house. “The idea is to offer clients a baker’s breakfast.
Small pastries, fresh bread and coffee to start the day for early risers,” said owner Diego San Miguel.
Opening a locale was something San Miguel saw further down the line, but as production started growing and so did the need for more space and bigger ovens, the baker quickly found himself looking for the next place Panoteca San Miguel could call home.
The new space, with an investment of $200,000, has tall ceilings, ideal for a bakery, and a welcoming atmosphere that will entice neighboring wanderers with its delicious aromas. Freshly made, straight-out-of-the-oven croissants, doughnuts, mallorcas, “bobois” and more can be found early in the morning, as well as the classics: baguettes and Campesino bread, a Panoteca San Miguel signature item.
By 10:30 a.m., sandwiches and focaccias start rolling out of the back for those who are looking for a quick bite for lunch. The Jambon Beurre sandwich is a staple and a must-try with cornichons, Grana Padano cheese, Prosciutto Cotto and butter. Simple, yet delicious.
For San Miguel, using local and fresh ingredients is at the forefront of the bakery’s philosophy, teaming up with local delivery service PRoduce, to ensure only the freshest herbs, vegetables and fruits are used in his pizzas and sandwiches that are made fresh every day.
Following that philosophy, he also partnered

Diego San Miguel, perfecting his craft >Courtesy with local coffee roasters Baraka Coffee Co., a small batch roasting company that uses refined and locally grown coffee beans. From the breads, to the sandwiches and the coffee, all ingredients are locally sourced, meaning your visit also supports the local farming industry. Sticking to his roots, San Miguel wants to offer simple yet flavorful bites. The baker recognizes the new space is an opportunity to hone down on the classics, but also experiment and try new things. “For me, it has been a learning process and I’m excited to continue learning and trying new things. Exploring opportunities with cheese is something I’ve always wanted to try as cheese and bread go well together, and the same thing happens with wine,” he said.
The entrepreneur is grateful to the many local restaurants and businesses that have supported his work from the start three years ago, giving him the space to explore and figure out what works. He’s especially grateful to his loyal customers, who week after week, made the transition from a ghost kitchen into a brick-and-mortar business a reality that now employs 10 people. The baker realized being able to offer a more human experience, chatting with his customers and seeing their faces gave meaning to the whole process.
Before, customers would make their orders through the Panoteca San Miguel Instagram page and then pick their goods up at the ghost bakery on Paraná Street where it was located. Now, having a store where a little community of bread lovers can come and pick up some quality coffee to go with their purchases and other goods on the way is a priceless experience.
