CAIXA Taps Global Expertise of Fiserv to Deliver Innovative Payment Experience to Merchants in Latin America’s Largest Economy
BROOKFIELD, Wis. & SÃO PAULO–(BUSINESS WIRE)–$FISV #acquiring–Fiserv, Inc. (NASDAQ: FISV) (“Fiserv”), a leading global provider of payments and financial services technology solutions, today announced Caixa Econômica Federal (“CAIXA”) has selected Fiserv for merchant acquiring services. The companies have signed a 20-year agreement that will enable merchants in Latin America’s largest economy to access innovative capabilities and accept payments through Fiserv. The deal was signed by CAIXA Cartões, a fully owned subsidiary of CAIXA.
Fiserv will support both card present and card not present transactions through CAIXA-branded POS terminals and a complete, online payment gateway solution. Merchants will benefit from a proven platform capable of processing a high volume of transactions, and innovative capabilities such as the ability to accept proximity payments via the merchant’s own mobile device.
CAIXA has the biggest distribution network in Brazil, with more than 26,000 physical banking service points and a presence in more than 99% of all cities in the country. The bank has the largest client base of over 146 million individual and corporate customers and about 107 million customers in its digital bank operation.
“We have a deep commitment to our business in Brazil and the combination of our global technology and local expertise enables us to deliver market leading solutions,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “Fiserv is proud to be the partner of choice for Caixa Econômica Federal and to enable the bank to further elevate its well-known brand by bringing an innovative suite of services to merchants throughout Brazil.”
“CAIXA, the largest Brazilian bank, has reinforced its client focus with another relevant deal,” said Pedro Guimarães, Chief Executive Officer of CAIXA.
“Fiserv has a well-established business in Latin America with a robust product offering and partnerships with the most important financial institutions. This alliance demonstrates the power and potential of our capacity and scalability in the merchant business,” said Gustavo Marin, President of Fiserv in Latin America.
“This strategic partnership is an important step to consolidate CAIXA Cartões in the payments ecosystem, taking advantage of its brand recognition and ubiquity, to offer payments solutions that meet the needs of Brazilian companies and entrepreneurs,” said Júlio Volpp, CEO of CAIXA Cartões.
Teams at Fiserv and CAIXA are working on the full implementation of the program, which is expected to be concluded in about 90 days.
CAIXA is the bank of all Brazilians. Operating in over 99% of the country’s municipalities, with over 26,000 physical banking service points, with 4,169 branches and service points, 13,056 lottery outlets, 8,810 exclusive bank correspondents, 8 mobile units (truck) and 2 boat branches. CAIXA makes all the difference when Brazilians need it the most, especially during the pandemic crisis, offering protection for employees, contractors and customers.
CAIXA is responsible for operationalizing the largest payment of social and income transfer programs in Brazil’s history, totaling R$362.9 billion and reaching over 121.3 million Brazilians, which represents 8 out of 10 adults in the country receiving benefits from the Federal Government through CAIXA.
The largest Brazilian bank in number of customers and loan portfolio, CAIXA has 145.8 million individual customers and corporate customers, totaling over 107 million digital accounts opened on CAIXA Tem app, with R$787.4 billion in the loan portfolio, with R$510.61 billion in housing loans.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500 and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
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