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Delivery, startup, Rappi, partners with Visa to offer pre-paid cards in Brazil

SAO PAULO (Reuters) – Delivery to start Rappi has been working with Visa Inc. to offer a pre-paid card associated with the digital wallet in Brazil, the expansion of the product roll-out in Mexico and Colombia, where the Rappi was first established, the directors of the two companies told Reuters.

The logo of the Colombia’s on-demand delivery company, Rappi has been given to the delivery of the bag at Mexico City, Mexico, on May 20, 2019. REUTERS/Carlos Jasso

The tie-up is the latest sign of the intensifying competition between app-based portfolios in Latin America’s largest economy, it will give Rappi, customers have a new way to pay with a money order for the app to go further than the current QR code payment function.

“This is the first of the many financial solutions that we are going to offer it to our customers,” Rappi is a co-founder in Brazil, with Ricardo Bechara, said in an interview published on Tuesday.

The Singapore-based Griffins, who have a similar goods Rappi’s in east Asia, struck a deal with Mastercard in the previous year.

Bechara will not give up what the other services could be provided in the future. For the time being, he added, the company has been focused on the roll-out of the pre-paid credit card in all of Brazil.

Rappi had arrived in Brazil in July 2017, and now has a presence in more than 20 cities across the country, growing an average of 30% per month, Bechara said, it’s the highest percentage among the six countries in Latin America, where the company operates.

The financial services unit, however, is more recent. To be launched In October, Rappi Pay to start due to permit transfers between the app users before the creation of the QR Code to make payments.

“We have known about the transaction numbers, but our goal is to have more than 100,000 commercial establishments to accept the Rappi Paid by the end of the year,” Bechara said.

In addition, the display of the Rappi users with an alternative to the use of the funds shall be held in, the App-based wallet, the prepaid cards are able to process transactions outside of the web, said Fernando Pantaleao, Visa’s vice president of sales for commerce solutions in the country.

It will also allow the Rappi to the development of new rewards programs, including cash-back, and the expansion of the customer base by attracting customers who want a debit card, but the lack of a bank account, are suffering from a low credit score or don’t have regular jobs, he added.

“Rappi has to be a commitment from the capacity, which no one else has, and this is a pre-paid card will give its users access to all of Visa’s benefits and anti-fraud, security, Pantaleao he said.

Reporting by Gabriela Mello; Editing by Bill Berkrot

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