Western Union global payment services has been granted license approvals from the Brazilian Central Bank to operate a commercial bank and foreign exchange brokerage firm. This allows Western Union to offer the Western Union “Money Transfer” services directly to consumers in Brazil and to introduce new financial services, including domestic money transfers, consumer bill payments and prepaid cards. Western Union has provided its international money-transfer service in Brazil since 1998, through its Agent network that currently includes nearly 6,000 bank and foreign exchange brokerage firm locations.
AZ-based Hypercom Corporation announced that the Cielo payment network has selected, purchased and is deploying 30,000 Hypercom “Optimum T4205” countertop terminals to merchants throughout the Country. Expected to be completed by the end of this month, this represents a significant expansion of Hypercom’s high security product portfolio in Brazil. The Cielo electronic payment network is among the 5 largest in the world while Hypercom delivers a full suite of high security, end-to-end electronic payment products, software solutions and services in more than 100 countries.
FIS banking and payments technology, has inked a binding memorandum of understanding with Banco Bradesco for its “Fidelity Processadora e Servicos” card processing joint venture. Under the ten-year services agreement, ‘FPS’ will provide comprehensive, fully outsourced card processing, call center, collection and back office services for Banco Bradesco’s private label and bankcard portfolios. ‘FPS’ and Bradesco are working to complete the conversion of Bradesco’s 14 million bankcards during the fourth quarter of 2010, bringing the total number of cards processed on behalf of all FPS clients to more than 40 million.
The Western Union Company and Banco do Brasil have teamed to offer the “Western Union Money Transfer Money in Minutes” service online to Banco do Brasil banked consumers through the bank’s Web site. The online money-transfer service arrangement with Banco do Brasil is an important step in Western Union’s “go-to-market” strategy in Brazil. As Western Union expands its money-movement service offerings, and in an effort to strengthen both its relationship and value proposition with consumers, the company looks to tap into cash, account and card-based solutions. The Western Union Money Transfer service has been available in Brazil since 1997, when both companies started the relationship, providing international money-transfer services through Banco do Brasil’s network that currently includes more than 5,800 locations.
As a founding member of the Prepaid International Forum (PIF), TSYS has reported an increasing momentum of the PIF Brazil and India chapters following the successful engagement of members, the first formal exchange on prepaid best practices, legislation and business models between the two countries. The PIF Brazil chapter brings together a diverse member base including payment schemes, issuers, law firms, consultants and distributors to work together in order to actively develop the prepaid market. The PIF India chapter has a broad member base drawn from public sector, private sector and multinational banks. Members of both chapters are engaging in an interactive dialogue with questions and answers posed by both chapters in conjunction with their rapidly developing markets, in which prepaid cards have a major role to play in serving the unbanked and underbanked. TSYS has more than 10 years experience of providing prepaid processing solutions in a licensing and processing capacity and extends to more than 300 clients across 75 countries.
Western Union and Banco Bradesco, S.A. have teamed to offer the Western
Union global money transfer service at most of Banco Bradesco’s
locations in Brazil. The Western Union global money transfer service, a
new service offering for Banco Bradesco account holders and walk-in
consumers will be available soon. Consumers will be able to send and
receive consumer-to-consumer international money transfers in person at
the majority of Bradesco’s locations.
The signing of Banco Bradesco is part of Western Union’s “go-to-market”
strategy in Brazil. As Western Union continues the expansion of its
service offerings, in an effort to strongly position money transfers to
consumers in Brazil, it seeks to tap into strategic banking channels.
Parascript image analysis and pattern recognition technology provider
has partnered with SQN Banking Systems integrated financial fraud
detection products and Bull information technology to implement the
SENTRY “SigCheck” signature verification system on its signature
authentication technology. This new signature verification system will
be implemented and integrated by Bull for one of Brazil’s major banks.
Using SQN’s “SigCheck,” the solution extracts one or more side-by-side
signatures from the check and verifies the signatures using Parascript’s
SignatureXpert to prevent fraud. Automatic comparison is executed by a
powerful combination of verifiers, combining a human-like holistic
analysis of a signature and signature segmentation with a subsequent
analysis of the signature elements and characteristics.
WorldVest global merchant bank is set to launch “WorldVest Brasil
Finance FIDC” as its initial investment vehicle to enter the highly
lucrative yet underserved Brazilian consumer finance market. WVB Finance
FIDC will be structured as a Fundo de Investimento em Direitos
CreditÃÂ³rios (FIDC), which is a Brazilian securitized finance fund
consisting of senior and subordinated shares and which will be rated by
Standard and Poors based on the strength of the collateral within its
credit portfolio. The WVB Finance FIDC will initially invest in credits
generated within the retail sector such as Consumer Direct Credits (CDC)
and Credit Cards (CC), but ultimately aims to grow into other lucrative
areas of the growing Brazilian financial markets. Brazilian consumers’
use of payment cards increased to 21.4% of all purchase in 2008 from
8.7% in 2000.
Diebold is recognizing its 10 year anniversary as a leading IT and
self-service solutions provider in South America. This development was
marked by the $225 million acquisition of Sao Paulo, Brazil-based
Procomp back in 1999. Diebold Brazil now wins some of the largest ATM
contracts in the company’s history, contributing expertise in software,
systems integration, and the development of key new products and
services through such solutions as Diebold “Integrated Services.”
Diebold Brazil has also help pave the way for new approaches to
optimizing costs, management and productivity of financial institutions’
ATM channels through outsourcing; employs more than 3,000 associates
throughout the country; and has delivered more than 100,000 ATMs and
other self-service terminals.
TAM and Banco do Brasil have signed a partnership that, starting next
week, will enable Banco do Brasil account holders with credit limits to
purchase airline tickets on the TAM website, for which to pay in
installments of up to 36 months. The installment payment option is now
to be available through the TAM website for individual customers with
accounts at Banco do Brasil with access to credit limits upon booking.
Connecting the traveler to the Banco do Brasil site after scheduling
their selected flight through TAM allows the user to select the number
of installment payments most convenient for him. The financial advantage
increases when a traveler plans his trip and buys the ticket in advance,
with a better chance of finding seats at attractive “promo” rates on
flights traveling at off-peak hours.
Visa has launched its “Visa Cargo” multi-functional commercial card with
prepaid functionality and an optional line of credit. Developed in
Brazil to address the needs of the truck transportation industry, “Visa
Cargo” allows shipping companies and cargo carriers to charge the value
of the freight directly to the card, provides the Visa Vale Pedagio
functionality for toll payments throughout the country using the same
plastic and replaces inefficient paper-based payment instruments like
the “Freight Letter.” “Visa Cargo” is accepted at more than 1.6 million
gas stations, restaurants, auto mechanic shops and tire store merchants.
Additional options allow for an extended warranty, purchase protection
and various types of insurance that can provide peace of mind for truck
drivers during their trips.
ViVOtech NFC and contactless payment systems contactless technology has
been selected to operate the MasterCard “PayPass” technology in Brazil
in conjunction with Redecard, the acquirer, at multiple merchant
locations. With 1.8 billion transactions per year in 1.3 million
merchant locations across Latin America, Redecard used ViVOtech
contactless technology to enable acceptance of MasterCard PayPass at
multiple locations. MasterCard Worldwide, Credicard, Citibank’s credit
card administrator for the Brazilian market, and Redecard have announced
the launch of MasterCard PayPass contactless payment technology in Rio
de Janeiro for public transportation and other quick service merchants.
ViVOtech’s infrastructure and application software products for mobile
payments, promotions and marketing enable its 550,000 reader-installed
base in 35 countries to function as communication and marketing devices,
communicating with consumers using Near Field Communication and interim
sticker technology enabled phones.