To pursue this mission, the company is releasing new financial features for all of its dozens of thousands of small sized clients, who are using Wirecard Brazil’s payment solutions. This new digital features will allow entrepreneurs to do transfer to third parties and bill payments. In addition, later this year, Wirecard will provide them with card solutions and lending services to facilitate their financial management.

Around 33% of the Brazilian population still do not have a bank account, because of the financial infrastructure within the market. In parallel, the fintech adoption rate is growing fast, by nearly 30% a year. With the new financial services, Wirecard Brazil is leveraging on this trend and is closing the gap of financial inclusion in Brazil.

As a first step, all users will be able to make transfers to third parties and pay bills with the values obtained from their sales without having to do an intermediary transaction to their own bank account. The new digital features will also provide more efficiency and convenience to customers, improving their financial management and reducing tariff costs.

Igor Senra, Managing Director at Wirecard Brazil, comments: “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 though one platform, regardless of the business model. Besides the option to have a new kind of bank account, we will be able to issue cards and offer the possibility of loans later this year.”

The new digital value added features are already available to a limited customer base and will be released to all users from October 2018 onwards.