Global payments solution provider, DataCash, a MasterCard company, today announces the latest development in its partnership with Redecard to provide the most complete payment solution for the Brazilian market, now including local and flexible payment options for Retail Merchants looking to enter the market in a cross border, e-commerce capacity.
This development in the partnership, initially announced 28th May 2013, expands upon specialist solutions developed for the domestic market, and allows Retail Merchants with global ambitions to capitalise with an entry strategy supported by a single holistic digital payments solution.
Specific functionality is now employed which gives retailers the ability to accept widely recognised local digital payment methods including:
• Boleto Bancario which allows the 'unbanked' to shop online and pay for goods in cash at bank branches
• Parcelado transactions which allow for the payment of goods to be split over a series of recurring payments and enable merchants to apply interest as necessary
• Hipercard which is the biggest Brazilian card brand
• Combo Card transactions in which the cardholder can choose which account the funds are taken from.
• Also integrated is the ability to process CPF, the Brazilian National Identification number, for the purpose of fraud screening.
Together these developments enable Merchants to provide a safe, efficient and convenient payment experience for their consumers, providing valuable brand consistency and assurance, whilst entering this exciting new market.
With a population of over 200 million[i], 80 million of which are internet users, Brazil is one of the fastest growing e-commerce markets in the world. $10.6 billion is spent online per year, the largest total in Latin America, and this is expected to grow to $18.7 billion by 2017[ii] which makes it a prime target for multi-national Retailers looking to expand. To be successful within the Brazilian market it is vital that Merchants are able to support these popular payment methods.
"Redecard have worked in close partnership with DataCash to create a digital payments solution that fits with the precise demands of the Brazilian market. Having seen great success domesticareat success domestically to date, to date, we feel it is a great time to take our in market experience and technology assets, together with DataCash's experience in providing solutions to the world's leading retailers, and respond to the challenges and demands that entering the Brazilian market places on cross border Retailers." said Marcelo Kopel, Redecard's Executive Director.
"As new ways to pay continue to emerge, and the demand to purchase anywhere, at anytime, via any device continues to grow, achieving borderless commerce is more important than ever before." said Ajay Bhalla, President at DataCash. "Brazil is an exciting market which leading Retailers should look to, in order to stay ahead of their competitors and secure future growth, and our partnership with Redecard provides real access to this."