Payments News

On The Web

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Global

Brazil: Cielo and Google collaborate with the digitization of businesses

“Cielo reported this week that it has partnered with Google to digitize small and medium-sized businesses in Brazil. According to the payment company, the project can reach more than 600,000 businesses, who will have access to create a digital profile, open an online store and create online advertising campaigns. The agreement illustrates Cielo’s growing efforts to […]
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Global

Pix exceeds 1 billion transactions in five months

“Pix has surpassed the 1 billion transaction mark since its launch last November. There were 1.05 billion instant transactions in five months, to be exact. The number was reached during the month of March, when there were 393.64 million instant payments, an increase of 43% compared to February. In values, Pix traded R $ 787 billion between November […]
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Global

Brazil’s biggest banks battle for reinvention in digital era

“The five giants that tower over the country’s financial system — Itaú, Bradesco and Santander Brasil, along with state-controlled Banco do Brasil and Caixa Econômica Federal — have in recent years embarked on investments in technology in a bid to stop customers switching to challengers such as Nubank, Brazil’s internet banking unicorn. Since the start […]
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Companies

Facebook Messaging Service Gets Delayed Brazil Nod for Payments

“Brazil’s central bank on Tuesday cleared the way for Facebook’s WhatsApp messaging service to let its users send each other funds using the Visa Inc and Mastercard card networks, months after vetoing WhatsApp’s initial attempt. When WhatsApp tried to launch the transfer service last June, the central bank said it could damage Brazil’s existing payments […]
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Global

Brazil’s Central Bank Uses Payment Platform to Spur Competition

“Brazil’s central bank is revving up its yearslong effort to bust up the country’s clubby banking industry, using a pandemic-driven shift toward touchless payments to launch its own digital platform. The payment system, dubbed Pix, was set up and is maintained by the central bank instead of private payments players, unlike similar systems in other […]
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Global

Rollout in Brazil Is Part of MagicCube’s Push for Card Acceptance on Ordinary Phones

“As part of its drive to turn off-the-shelf mobile devices into secure point-of-sale terminals using software as opposed to a dongle, MagicCube Inc. announced Thursday that its i-Accept application has expanded to Brazil. Acquiring banks and financial-technology service providers in Brazil can now enable merchants and retailers to accept contactless cards across all four major […]
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On The Wires

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Domains

MagicCube’s I-Accept, the World’s First Software-Based Replacement for Traditional Payment Terminals, Enables Smartphones As TAP & PIN POS for Brazilian Merchants

“MagicCube , the leader in the new category of Software Defined Trust (SDT), today announced the availability of i-Accept ™, a complete software-based replacement for traditional payment acceptance terminals, now available in Brazil. Through i-Accept™, acquiring banks and disruptive financial services institutions can now enable their merchants and retailers to accept contactless cards, including those from Visa®, […]