Payments News

On The Web

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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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Domains

E-Commerce Powerhouse MercadoLibre Eyes Record Brazil Investment

“E-commerce retailer MercadoLibre Inc. is boosting its bet on Latin America’s largest economy, with plans to invest record amounts in 2021. The region’s most valuable company, which is investing a record 4 billion reais ($716 million) this year in Brazil, plans to beat that number in 2021, said Fernando Yunes, the firm’s country manager for […]
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Global

JPMorgan-Backed Brazil Fintech Plans to Expand in U.S., Mexico

“FitBank Pagamentos Eletronicos SA, a Brazilian fintech backed by JPMorgan Chase & Co. , plans to open a U.S. office in the first half of 2021. The payment-services firm, which has more than 100 clients in Brazil, is also expecting to start operations in Mexico, Peru and Colombia sometime next year, according to Chief Executive […]
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Deals

General Atlantic Leads $300 Million Growth Round for Brazilian Fintech Company

“Growth-equity firm General Atlantic has led a $300 million funding round for Brazilian financial technology company Neon Pagamentos SA to help foster the company’s continued growth. The latest funding comes not long after the firm helped back the company in a roughly $92 million Series B financing round in 2019 and brings total capital raised […]

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®, […]
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Domains

 Western Union Expands International Payment Services in Brazil

“The Western Union Company, a leader in cross-border, cross-currency money movement and payments, today announced an expansion of services between its Western Union Business Solutions division and Banco SEMEAR in Brazil to offer the WU® GlobalPay for FI platform, the Company’s solution for financial institutions that enables customers to make international payments simply and efficiently.”