Sistema De Cooperatives de Credito do Brasil
(SICOOB), an association of credit unions in Brazil, has partnered
with processor Redecard on card acceptance services.

The five year agreement made through Banco
Cooperativo do Brasil S/A (BANCOOB), builds upon other partnerships
Redecard signed in the second quarter with Hipercard, Coopercred,
Sorocred and Banco Trianguli.

“Redecard recognises SICOOB as an important
partner in its strategy to expand penetration in the electronic
means of payment in the country. With this partnership, innovative
solutions in electronic payments will be offered to SICOOB
associates,” a spokesperson for Redecard said.

Redecard announced impressive second quarter
results with net operating revenue growth up 16.6 percent to R$
862.9m compared with the same point last year.

The positive results were owing to a surge in
debit and credit card usage, with revenue from credit card
transactions jumping 17.5 percent year on year to R$409.2m with
debit card revenue up 14 percent to R$102.4m.