Banking and payments technology provider FIS
has signed a 10-year card processing deal with Brazil’s Banco
Bradesco and also hints at possible expansion plans in the Latin
American region.
Under the terms of the agreement, FIS’ card
processing joint venture Fidelity Processandora e Servicos (FPS)
will process and support Banco Bradesco private label, Visa and
MasterCard portfolios until 2020.
Go deeper with GlobalData
FPS’ card processing services include: call
centre management, back-office support, risk management and
collection services. FPS claims to currently support more than 40
million card accounts in Brazil, including over five million
prepaid cards.
“This long-term agreement further signifies
our commitment to the Brazilian marketplace and the enthusiasm we
share with Banco Bradesco regarding the outlook for additional
growth opportunities in the region,” said Gary Norcross, COO,
FIS.
FPS claims to be well-positioned to serve the
Brazilian market, having grown the number of cards on file by 37%
per year over the past five years.
“Supporting the consumer and commercial credit
card market is of great strategic importance to our growth
strategy,” said Arnaldo Vieira, EVP for Banco Bradesco.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“Our relationship with FIS allows us to not
only support Brazil’s high-growth card market, but it also
positions us to diversify our products in order to service other
card holders throughout the region.”
