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Thesis

Evertec (EVTC) is a recently IPO'd company with strong tailwinds and several competitive advantages that create a decent sized moat. The progression from cash payment to card payment throughout Latin America, along with the strengthening of the emerging markets consumer, favors this company. Evertec is the leading card processing company throughout Latin America and is expanding further. I believe this company will benefit over the long term if it is capable of successfully expanding and maintaining its competitive advantages.

Company Overview (Source: 10-K)

Evertec is the leading full-service transaction processing business in Latin America and the Caribbean. According to the July 2012 Nilson Report, EVTC is the largest merchant acquirer in the Caribbean and Central America...

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