Brazilian Credit Card Issuer Afinz Moves to FIS for Processing Services to Support Growth Strategy
October 27 2020 - 7:00AM
Business Wire
Key facts:
- Brazilian fintech and card issuer Afinz, formerly Sorocred, has
selected FIS’ card processing services for its entire portfolio of
credit cards.
- FIS will also provide processing services for Afinz’s recently
launched credit card co-branded with Visa.
Financial technology leader FIS® (NYSE: FIS) announced that it
has been selected by Brazilian financial services provider Afinz to
provide processing services across the company’s full portfolio of
private-label credit cards. Afinz is a new FIS client in
Brazil.
Formerly Sorocred, Afinz recently rebranded as part of a
strategic business expansion into a fintech company offering a wide
range of credit products and other financial services for consumers
and retailers throughout Brazil. The company, which had been
handling its card processing in-house, was looking to outsource its
processing operations to a payments processing leader with the
scale and expertise needed to support its growth plans.
Under the long-term agreement, FIS migrated Afinz from the
company’s legacy processing onto the world-class FIS credit card
processing platform in the first week of September, enhancing the
speed and efficiency of its operations. FIS will also provide
processing services for a recently launched Afinz credit card
co-branded with Visa.
“We were looking for a payments partner that would help take us
to the next level of growth and customer service excellence,” said
Cláudio Yamaguti, President at Afinz. “With FIS, we gain a partner
that not only can provide us the high-quality credit card
processing services that we need today, but that can support us as
we add new products and services in the future.”
“FIS is excited for the opportunity to work with Afinz and
support its aggressive growth plans,” said Marcelo Porto, general
manager of Banking Solutions for FIS in Latin America. “This
agreement brings together two leaders that understand the power of
advanced technology in providing a differentiated experience to
customers. We are committed to helping Afinz achieve its growth
goals in the region by providing world class processing
services.”
About FIS FIS is a leading
provider of technology solutions for merchants, banks and capital
markets firms globally. We have more than 55,000 people that are
dedicated to advancing the way the world pays, banks and invests by
applying our scale, deep expertise and data-driven insights. We
help our clients use technology in innovative ways to solve
business-critical challenges and deliver superior experiences for
their customers. Headquartered in Jacksonville, Florida, FIS is a
Fortune 500® company and is a member of Standard & Poor’s 500®
Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
About Afinz Afinz was
founded in 2020 with a 30-year tradition, inherited from the
financial services provider Sorocred. The financial services
platform connects retailers and consumers and offers a complete
portfolio of solutions that guarantee a simpler, more transparent
and hassle-free shopping, selling and payment experience.
Afinz's financial solutions serve individuals and companies, as
well as small entrepreneurs, who are usually not adequately
attended by traditional banking services and products. For more
information, visit the website: https://afinz.com.br/.
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version on businesswire.com: https://www.businesswire.com/news/home/20201027005099/en/
Kim Snider, +1 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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