DataCash and Redecard are providing residents in Brazil with options for making payments with cross-border e-commerce retailers.
The new offering expands on technology the two companies developed for the domestic market, enabling international online retailers to accept regional alternative payment methods. DataCash is a MasterCard subsidiary, and Redecard is a subsidiary of Itau, the largest bank in Latin America.
Payment options include Boleto Bancario, which allows unbanked consumers to shop online and pay for goods in cash at bank branches; Parcelado, which allows payments to be split over a series of recurring transactions with the option to charge interest; Hipercard, the largest Brazilian card brand; and Combo Card transactions, in which the cardholder can choose from a series of accounts.
The system also uses CPF, the Brazilian national identification number, to combat fraud.
"As new ways to pay continue to emerge, and the demand to purchase anywhere, at any time, via any device continues to grow, achieving borderless commerce is more important than ever before," says Jay Bhalla, President of DataCash, in an Oct. 11 press release. "Brazil is an exciting market which leading retailers should look to, in order to stay ahead of their competitors and secure future growth, and our partnership with Redecard provides real access to this."