Visa Checkout Lands In Brazil

Visa Checkout has expanded its footprint into another region.

Visa announced Friday (Oct. 23) that it had officially launched Visa Checkout in Brazil. The company is partnering with FutebolCard, a Brazilian startup that lets soccer fans quickly and easily buy tickets to matches in 12 stadiums across the South American country. Percival Jatoba, VP of Products for Visa of Brazil, said that the move will help Brazilians hungry for more mobile commerce options to shop smarter and faster.

“In an increasingly digital world, people are spending more and more time browsing, shopping and paying on their mobile devices,” Jatoba said in a statement. “As screens get smaller, it’s more important than ever that shoppers are able to make fast, easy payments in just a few clicks … With this streamlined approach to payments, merchants and financial institutions see higher conversion rates, which ultimately brings new customers and drives higher sales. We are excited to bring these benefits to our clients and customers across Brazil.”

The announcement should yield big dividends for Visa and Brazilian consumers alike. According to data from MasterCard, 19 percent of Brazilian shoppers have expressed a willingness to engage with mobile payments options, and at least 14 percent of consumers are familiar with the technology — a solid foundation for growth.

With more smartphones than people (272 million to 199 million), Brazil may soon become a promising market for mobile payments.

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.