Inswitch, global leader in embedded financial technology solutions, and Grupo Card, the biggest provider of telecommunication solutions, payments, prepaid cards and top-ups of Brazil, announce they have signed a strategic partnership agreement, which will allow both companies to empower their fintech solutions and services and address business opportunities in the country together.
For Inswitch this partnership means the strengthening of its presence in Brazil and consolidates its objective of providing 360 Fintech-as-a-Service solutions in such market, based on the robust infrastructure of Grupo Card, which has over 60,000 points of sale, currently covering six Brazilian states and serving 81 million users per month (41% of the Brazilian population). The alliance will allow Grupo Card to expand its portfolio of services to the fintech world through the Inswitch solutions, including: Smart Lending, Sales Optimization, and Digital Wallet, among others.
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“Inswitch is proud to have achieved this alliance with Grupo Card,” said Ronald Alvarenga, Inswitch Executive Chairman. “This alliance is an important part of our strategy to expand and consolidate Inswitch in the most important markets of the region such as Brazil; supporting the digitalization and democratization of financial services in all companies in said country and those wishing to expand their operations globally. On the other hand, having access to more than 80 million users and over 60,000 points of sales will allow us to rely on a payment infrastructure and a robust ecosystem for our e-commerce products, wallets as a service, and lending looking ahead to our plans for 2021.”
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“The alliance between Inswitch and Grupo Card is a powerful combination. Inswitch has deep knowledge and experience in digital financial products and Grupo Card is the leader in the prepaid product distribution market in Brazil. This alliance places us in a strategic position to support the growth of our Brazilian customers.” commented Michel Costa, Inswitch Head of Business Development for Brazil.
“For Grupo Card, this partnership is a great opportunity to join forces with a qualified company like Inswitch, which adds its technological solution with a proven track record to our solutions and operations in Brazil, allowing us to expand our offer for mobile operators in the Brazilian territory.” expressed Leonardo Junqueira, Grupo Card Regional Director.
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