Mobile payments firm payleven and Visa have launched the new payleven Visa prepaid credit card, targeting non-banked merchants.
The new card will enable merchants in Brazil, particularly sole traders, to get the money transacted through the payleven Chip & PIN card reader without signing up for a separate bank account. The money will be directly transferred to their prepaid credit card.
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The card will be issued under the merchant’s name and delivered with the Chip & PIN card reader. The owner may utilize it for purchases and money withdrawal at a Visa Plus ATM. All purchases made with the card will appear in users’ payleven account, enabling them to track their business activity.
Visa’s Brazil Merchant Sales & Solutions director Renato Rocha said: "This solution fits well in one of our pillars, increasing penetration of electronic payments into new business segments, bringing more convenience and security.
"By enabling non-banked merchants to accept card payments, this solution opens the door to financially include many professionals who previously could only receive cash payments, contributing to an expansion of their business."
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By GlobalData
