JACKSONVILLE, Fla. & SÃO PAULO, Brazil--(BUSINESS WIRE)--FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that its card processing joint venture in Brazil, Fidelity Processadora e Servicos S.A. (FPS), has begun processing credit cards issued by Banco Bradesco under the ELO brand. In addition, beginning in June 2011, FPS will process the prepaid cards issued by Cia Brasileira de Solucoes e Servicos (CBSS) under the new brand.
The ELO-branded cards will be available to all social classes within Brazil and aim to leverage the use of plastic as an instrument to enhance access for about 40 million Brazilian citizens. In addition, the cards will become an important ally in the process that will eventually replace checks and cash in commercial transactions. The new ELO cards will provide the convenience and security of using credit, debit and prepaid cards as alternative means of payment. Demand for the new card since its launch date on April 4 has exceeded expectations.
“We are proud to team with Banco Bradesco and CBSS on this venture for the new ELO prepaid family of cards,” said Reginaldo Zero, president, FPS. “We are on the forefront of an emerging market and will be extremely successful in providing many Brazilians with a new payment method that was previously unavailable to them.”
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list. For more information about FIS, visit www.fisglobal.com.
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