Wirecard Brazil, a subsidiary of Wirecard Group, has added new financial features for its payment solutions used by small merchants across the country.
The newly added digital financial solutions have many features. It will facilitate third party transfers and bill payments. This is all without the need for intermediary transaction to the client’s own bank account.
The new features, according to Wirecard Brazil, will also enhance financial management and decrease tariff costs.
Additionally, Wirecard intends to launch card solutions and lending services to facilitate financial management for the clients.
Wirecard Brazil managing director Igor Senra said: “These new financial features are part of a larger project that will allow our customers to use the money from their sales in various ways, all through one platform, regardless of the business model.”
The digital financial features have rolled out to a limited customer base. However, there are plans for a full release from October this year.
Nearly one-third of Brazil is unbanked due to the country’s weak financial infrastructure. However, the fintech adoption rate is growing by about 30% a year.
The new digital services will help Wirecard Brazil in leveraging this trend. In addition, it may shorten the financial inclusion gap.