InComm Payments, a leading global payments technology company, today announced that it has acquired Todo Cartões, one of Brazil's main closed-loop gift card processors.
The acquisition will grow InComm Payments' presence in the country by enabling the processing and distribution of closed-loop gift cards.
Todo Cartões has an established presence in Brazil, offering a closed-loop digital and physical gift card processing platform for retailers and bulk gift card purchasing for corporate incentives.
InComm Payments entered the Brazilian market nearly a decade ago. Ever since, it has partnered with the country's leading convenience, pharmacy, book and electronics store chains, expanding its presence to more than 4,500 points of sale.
"This acquisition positions us to process and distribute closed-loop gift cards for some of the greatest retailers in the country," said Ricardo Olivieri, Country Manager for Brazil at InComm Payments. "The gift and prepaid cards market in Brazil has been growing at a double-digit rate annually*, and we're now equipped to better serve it."
"We're very excited to join forces with InComm Payments to grow in this market, which is new and exciting to Brazilian consumers," said João Espíndola CEO, Todo Cartões. "We expect to create a one-stop-shop for retailers on all things gift card and incentives related."
*Source: Abecs (Brazilian Association of Cards and Services).