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Banricompras to begin processing MasterCard transactions

Banricompras to begin processing MasterCard transactions

Banrisul and MasterCard have signed a partnership agreement that allows cards bearing the MasterCard logo to be accepted at Banricompras payment terminals. The concession of the license authorizing Banrisul to process MasterCard credit and debit card transactions was announced today (08/05) at a meeting between the two companies at the Bank’s headquarters in Porto Alegre.

Soon, in addition to accepting Banricompras’ own cards, the close to 100 thousand certified sales points comprising the Banricompras network will also be able to process MasterCard transactions. The deal gives MasterCard clients more options for paying for their purchases, particularly in the states of Rio Grande do Sul and Santa Catarina.

According to Banrisul President Mateus Bandeira, the partnership with MasterCard strengthens the Banricompras network. “The Bank’s initiative will provide new business opportunities and will increase the number of participants, who in turn will be able to offer their clients the ability to make electronic payments at a single machine using two cards known for their security and quality of service.”

For Gilberto Caldart, president of Mastercard in Brazil and the Southern Cone, this partnership is extremely important for the brand, “since in addition to having the potential to increase our acceptance network and to strengthen our presence in the southern region of the country, it also offers additional convenience to millions of MasterCard users and commercial establishments that want to accept MasterCard credit and debit cards.”

Merchants will have the advantage of being able to anticipate MasterCard receivables in amounts equal to their installment sales billings. Companies will also have access to a credit limit for working capital on sales paid for with MasterCard cards, as well as being remunerated for adding credits to prepaid cell phones and not having to pay Banrisul’s check consultation fee.

In 2009 alone, Banricompras recorded 61.3 million transactions totaling R$ 3.9 billion. The Banricompras Network will soon be announcing other partnerships that will expand the acceptance networks of other market cards, providing great benefits to all Banricompras Card cardholders, to participating storeowners and to Banrisul’s customers in general.

To access the PDF file, click here.

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