Brazil feels the lack of micropayments

Inside Contactless one of the known contactless microprocessor platforms has announced its partnership with Brazil-based American Banknote, known also as ABnote. According to the sighed agreement Inside Contactless will produce contactless payment card for the Brazilian market. 

It is expected that the company will supply MicroPass® 4003, which is compliant with latest MasterCard PayPass specifications.  

“Brazil is South America’s largest economy, and is now undergoing its biggest economic expansion in 30 years, creating a tremendous opportunity for INSIDE to participate in that country’s burgeoning payments market, which recently surpassed the 100 million issued credit card milestone. Our partnership with American Banknote Brazil opens the door to the contactless payments market in Brazil for us in a very big way, and is the latest example of our successful global expansion strategy,” commented Bertrand Moussel, EVP sales for Latin America at INSIDE Contactless.