Brazil, we’ve arrived! Today, we announced our expansion into Brazil, the largest fintech market in Latin America, with a new partnership with FitBank and our certification partner Visa. FitBank is a banking-as-a-service platform and will be both our customer and BIN sponsor for our customers looking to launch in the region.
With our launch in Brazil, our platform is now enabled to operate in more than 40 countries worldwide. We’re excited to allow our global customers to grow into the region and the prospect of partnering with Brazil’s base of local fintechs looking to build new innovations and modern payment infrastructure.
“We’ve followed Marqeta’s growth and global expansion for some time now, and given we’re also expanding globally there couldn’t be a more natural card issuing partner for Fitbank in Brazil,” said Otávio Farah, co-founder and CEO at Fitbank. “Through our partnership, I believe we can enable global companies and local innovators to bring amazing payment products to market, amplifying the strengths of each of our companies.”
FitBank provides a custom-built, cloud-native, complete banking and credit infrastructure to thousands of customers, and is one of the first modern platforms licensed by the Central Bank and directly integrated with PIX, the Brazilian Real-Time Payments System. They are currently a principal member of Visa with future plans for network expansion. Marqeta will serve as FitBank’s tech platform to support local card issuance and card payment processing in Brazil, while also using Marqeta’s Real-Time Decisioning engine to boost its fraud management capabilities.
Learn about our global platform offerings here.
