Now Prepay Servicos de Informatica (NPSI), a wholly owned Brazilian subsidiary of VendTek Systems, has entered into an agreement with PagPop.
Founded in 2006, PagPop has developed a card reader that can be attached to Android and IOS-based smartphones.
Through this agreement, Now Prepay will deploy PagPop solution to start capturing payments, and debit and credit transactions from the first half of 2014.
According to FSCwire, the technology will allow low-income Brazilian consumers to make and accept credit card payments through smartphones, landlines or computers.
VendTek Systems president and CEO, Doug Buchanan, said: "Since approximately 60% of Brazil’s population is unbanked, mobile payments are one of the only options to help households and small businesses make and accept payments. This is an agreement that will be beneficial to both companies as we can utilize each other’s networks to grow."
PagPop CEO, Macio Campos, added: "By 2016 we intend to achieve a base of 300 thousand clients and the partnership with VendTek will certainly help us achieve that goal through offering low-income clients and independent professionals efficient and accessible options of financial and payment services."