The acquisition will help expand InComm Payments’ reach in Brazil. Todo Cartões processes closed-loop gift cards for retailers, both in-store and online, and supports bulk gift card purchases for businesses.
“This acquisition positions us to process and distribute closed-loop gift cards for some of the greatest retailers in the country,” said Ricardo Olivieri, country manager for Brazil at InComm Payments, in the release.
Headquartered in Atlanta, Georgia, InComm Payments has been operating in Brazil for almost a decade, offering end-to-end payment platforms and solutions to over 4,500 points of sale at retail stores around the country, including pharmacy, electronic, convenience and book store chains.
Brazil’s gift and prepaid card market is growing annually at a double-digit rate, the press release notes, citing the Brazilian Association of Cards and Services.
“The gift and prepaid cards market in Brazil has been growing at a double-digit rate annually*, and we’re now equipped to better serve it,” noted Olivieri.
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“We’re very excited to join forces with InComm Payments to grow in this market,” said João Espíndola, CEO of Todo Cartões, in the release. “We expect to create a one-stop-shop for retailers on all things gift card and incentives related.”
Gift cards will be especially important this holiday season, Factor4 CEO Dan Battista recently told PYMNTS, calling them a “lifeline to merchants.”
“We anticipate more SMBs utilizing mobile gift card and loyalty apps as contact-free payments become the norm,” he said, especially as this season is the most virtual, and most compressed, holiday shopping season to date.
But InComm hasn’t left cash behind, recently partnering with FinTech-as-a-Service (FaaS) Rapyd to service customers who still wish to pay in cash.
