London based MasterCard company and PSP, DataCash has partnered with Redecard, a leader in the electronic payment industry in Brazil, together offering payment processing solutions for foreign merchants who wish to target a Brazilian customer base.
Through this union, which was first announced in May, various payment methods can be offered by DataCash customers to Brazil based consumers, giving them greater payment range when it comes to developing a presence in Brazilian e-commerce.
Payment options include:
*Boleto Bancario: enables online shopping while paying for goods in cash at bank branches.
*Parcelado transactions: payment of goods can be split over a series of recurring payments and merchants may apply interest as appropriate.
*Hipercard: the biggest Brazilian card brand
*Combo Card transactions: consumers can choose which account the funds are taken from.
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*Also incorporated is the ability to process CPF, the Brazilian National ID, for the purpose of fraud detection.
As we, at Payment Magnates, have explored in past publications, Brazil is a fast growing emerging market in online and the biggest in Latin America, offering a multitude of opportunity to e-merchants, worldwide. It has a population of more than 200 million (80 million internet users) and an annual online spend of $10.6 billion with a predicted expansion to $18.7 billion by 2017.
Marcelo Kopel, Redecard’s Executive Director commented saying: “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 domestically 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.”
“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 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.”