Caixa Econômica Federal signs 20-year payments deal with Fiserv
Brazilian bank Caixa Econômica Federal has selected Fiserv for a 20-year deal centred on merchant acquiring services.
Fiserv will support both card present and card not present transactions through Caixa-branded point-of-sale (POS) terminals. It will also underpin the bank’s online payments gateway.
The vendor says Caixa-partnered merchants will benefit from “a proven platform” capable of processing a high volume of transactions.
Founded in 1861 and owned by the Brazilian state, Caixa has the largest distribution network in its home country.
The bank operates 26,000 physical banking service points and a presence in almost every city in the country. It has 146 million individual and corporate customers, with 107 million using its digital banking services.
Pedro Guimarães, CEO at Caixa, hails Fiserv’s “well-established business in Latin America”. He says the firm has a “robust product offering”.
He adds: “This alliance demonstrates the power and potential of our capacity and scalability in the merchant business.”
Frank Bisignano, CEO and president of Fiserv, says the vendor has “a deep commitment” to its business in Brazil.
He adds Fiserv can enable the bank to “further elevate its well-known brand” by bringing an “innovative suite of services” to merchants.
Fiserv has been on a payments tear of late, and acquired two firms in the sector in the space of six months.
In December 2020 it acquired Ondot Systems, a Californian processor with more than 4,500 banks on its books. Fiserv plans to integrate the firm, including its flagship digital card services offering.
Its second purchase came in early 2021 with US processor Pineapple Payments, a deal designed to expand Fiserv’s reach in the merchant space with its Clover system.