Caixa Econômica Federal taps Fiserv for merchant acquiring services

By Pavithra R

Fiserv, a leading global provider of financial services technology solutions, has announced that Caixa Econômica Federal (CAIXA) has selected the firm for merchant acquiring services.

The companies have entered into a 20-year agreement that will enable merchants in Latin America’s largest economy to access innovative capabilities and accept payments through Fiserv.

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 a large client base of over 146 mn individual and corporate customers and about 107 mn 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. 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,” said Frank Bisignano, President and Chief Executive Officer of Fiserv.

Under the deal, Fiserv will support both card present and card not present transactions through CAIXA-branded POS terminals and a complete, online payment gateway solution.  Merchants can also 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.

“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.

Established in 1984, Fiserv is a global provider of payment and financial services technology. The FinTech aspires to move money and information in a way that moves the world. The Firm is a member of the S&P 500 Index and the FORTUNE 500 and is among FORTUNE World’s Most Admired Companies.