Wirecard Brazil widens payments scope
Wirecard is keen to get more payments and banking action in Brazil with the launch of transfers, bill payments, card usage and loans from October.
33% of Brazilian population do not have a bank account
Wirecard Brazil (Moip) is releasing these new financial features for all of its “dozens of thousands” of small sized clients.
This will allow them to do transfers to third parties and bill payments. In addition, later this year, Wirecard will provide them with card solutions and lending services.
Igor Senra, MD at Wirecard Brazil, says: “These new financial features are part of a larger project that will allow our customers to use the money from their sales in various ways, all through one platform, regardless of the business model.”
Senga adds that this is an “option to have a new kind of bank account”.
The new features are already available to a limited customer base and will be released to all users from October onwards.
According to Wirecard, around 33% of the Brazilian population still do not have a bank account, because of the financial infrastructure within the market.
In parallel, it says the fintech adoption rate is growing by nearly 30% a year.
The Brazilian market has been lively as more banks and firms wake up to its fintech charms.
Recently, Compass Plus migrated BPP, a Brazilian prepaid card issuer, to its Compass Plus Processing Centre in two months – its first processing customer in the Americas.
Last month, Bradesco and Banco do Brasil unveiled their new payments firm Veloe – offering urban mobility and that petrol emotion.
While in June, challenger Nubank revealed it got 1.5 million customers signed up for its digital savings account (“NuConta”) over the previous six months.
