Brazilian processor Redecard is forming a partnership with local credit card company Coopercred to process its credit card and voucher transactions.
Coopercred, headquartered in the city of Maringá, in the state of Paraná in the south of Brazil, has been active in the payment cards market since 2004. It is present mainly in the states of Paraná and Mato Grosso do Sul, also in the south. The agreement is part of Redecard’s multibrand strategy which aims to bring more value to the company‘s POS machines. The partnership with Coopercred means Redecard now has a total of 19 brands in its portfolio.
Coopercred issues vouchers for buying food, drugstores, fuel and multi-benefit cards. The partnership will start in the second half of 2010.
Earlier this year, Redecard announced it would start accepting Visa card payments for the first time after an exclusivity agreement between Visa and Cielo, Redecard’s main rival, expired at the start of July.