DataCash, a MasterCard payments processing subsidiary, and Redecard will partner to sell electronic commerce products to merchants in Brazil.
DataCash will provide Redecard with a connection that enables multiple suppliers to access its payment platform, facilitating the connection between merchants, card-issuing financial institutions and Redecard itself.
Redecard is a subsidiary of Itau, the largest bank in Latin America.
"The Brazilian market is one of the world's most rapidly growing e-commerce markets," said Ajay Bhalla, president at DataCash, in a release. "DataCash's payment gateway not only meets Redecard's specific need for a platform that can process payments from multiple sources, but also has the flexibility to up-scale as Redecard further expands its footprint in Brazil. Ultimately this flexibility can be offered to merchants, ensuring they are able to meet the growing demands of the end consumer to transform the digital payments experience."
MasterCard is also offering its PayPass contactless payment technology in Brazil via a partnership with Itau, Redecard and Gemalto. MasterCard's digital wallet, MasterPass, is being gradually integrated with PayPass in an effort to bring digital payments to the point of sale.