Novopayment Talks About Doing Business in the Brazilian Payments Market

by Mercator Advisory Group 0

PayBefore publishes a good primer about the Brazilian payments market, written by Anabel Perez, the president and CEO of Novopayment – a prepaid program manager active in several Latin American markets.

According to Anabel, the Brazilian market is quite dynamic and still quickly evolving, leaving plenty of room for prepaid cards.

In terms of payments, the country is showing signs of reinventing itself and coming to grips with its large population that is underserved in terms of access to financial services. These factors, combined with relatively open and transparent payments networks run by publicly traded Cielo (formerly Visanet), Redecard and Santander, bode well for prepaid, creating a climate of confidence.

Still, it must be recognized that the notion that anything that can be settled with a payment card can be administered through a prepaid platform is a relatively novel idea for many in the country. It is also important to note that the Brazilian payments landscape features many hybrid transactional and business models, including online magnetic, offline chip and stored value-credit combinations.

Anabel also points out the market opportunities for prepaid might be great in select segments such as travel cards and benefits. But foreign companies trying to enter the market will need to become familiar with the regulatory environments and the local ways to do business in Brazil.

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