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.