BRAZIL | Brazilian merchant acquirer Rede, part of Itaú Unibanco, buys maxiPago! - a Brazilian payments service provider that operates in Latin America. The deal complements Rede's multi-channel payments solution and will enable a one-stop-shop ecommerce payment solution for Rede's customers.
Boleto Bancario, Online Debit, Cards and e-Wallets
Rede’s payment solution with maxiPago! features a payments gateway, fraud solutions, merchant acquisition, and financial reconciliation. “The maxiPago! platform will give ecommerce merchants access to all relevant payment methods and acquirers, including domestic and international credit and debit cards, boleto Bancário, online debit and e-wallets.
The platform also provide fraud tools- and management as well as reconciliation and transactional business information. This helps merchants to maximise sales, and minimises the operational cost per transaction,” says Svante Westerberg, CEO and co-founder of maxiPago!
MaxiPago! Platform Performance
MaxiPago! is a Brazilian company founded in 2011, that uses advanced payments processing technology - originally developed in the USA - and adapted for the specific requirements of the Latin American region. In 2013, both its customer base and number of transactions processed on its platform increased ten-fold (year-over-year). maxiPago! has processing capacity of up to 4,000 transactions per second at 99.99% availability for local payments in Brazil, Mexico, Argentina, Chile and Colombia as well as another 150 currencies.
Meet the needs of the Brazilian marketplace
“Having our own gateway will give us additional agility and flexibility to develop innovative solutions and meet the needs of the Brazilian marketplace,” says Milton Maluhy Filho, Rede’s CEO and Managing director of Itaú Unibanco’s cards issuing side as well. “We believe that in offering better and more value-added features, our merchant’s will benefit from greater checkout conversion and customer loyalty.”
The deal is subject to regulatory authority approval.
Merchant Acquirer Rede
Rede is the acquiring arm of the Itaú Unibanco conglomerate, and responsible for capturing credit and debit transactions for the major local and international issuers. Itaú Unibanco is the biggest retail bank in Brazil with more than 40% market share both in card acquiring and issuing. It offers merchants a wide range of products and services to boost business performance, such as online payment solutions, advances on receivables, and terminal provision, to name a few.
Sourced from Press Release by Rede, September 17th, 2014