TAS Group has signed an agreement with Brazilian Card Issuer and Brand, CREDZ, to deliver a Proof of Concept (PoC) for a digital wallet app for its retailer partner network, providing innovative, customer-centric, convenient payments via the mobile phone.
The 3-month pilot goes live immediately with a small number of brands and customers, allowing both Person-to-Merchant (P2M) and Peer-to-Peer (P2P) mobile payments via the digital wallet app. The solution will be initially deployed at a selected merchant in São Paulo, with a subsequent roll-out planned to CREDZ’s retailer partner network in Brazil.
CREDZ manages credit cards for its 50 retailer partners, active in different sectors with more than 2,000 merchants throughout Brazil. The credit cards offer an extensive range of value-added products and services such as loyalty rewards programmes, insurance and instalment options. The digital wallet solution incorporates these value-added products and services, adding the power to bridge the physical and virtual customer journey and bringing new options to further consolidate customer loyalty for CREDZ’s retail partners.
The digital wallet app has been designed to give the user a secure, low-friction payment experience through the use of QR codes. The customer simply scans the QR code presented at the checkout and confirms the payment.
The payments platform behind the digital wallet solution uses consumer purchasing data to provide relevant geo-targeted offers, discounts, promotions coupled with compelling payment features such as competitive interest rates, insurance and payment terms.
The app has been developed by TAS Group, leading Fintech in the payments and digital transformation space, together with its Spanish partner PayNoPain, experts in rethinking the customer experience for online purchases.
Customer enrolment is fully secure through digital KYC (Know Your Customer). It includes matching a selfie photo with the photo on the identity document provided, capturing a bill statement for proof of address, and verification of the mobile phone number.
Implemented as a closed-loop network, the solution uses a stored value account, dramatically reducing the costs to merchants compared to MasterCard and Visa payments acceptance. The innovative mobile POS delivery enables retailers to receive payments via a mobile application, increasing transaction speed and improving the payment process.
“With digital expectations of retail consumers advancing, our customers are being urged to rethink their products and services, ensuring they stay competitive. We are delighted to help CREDZ deliver an improved user experience and enhanced payments functionality, while keeping their own costs under control,” said Anderson Lucas, Business Development, Tasamericas. “This project is extremely timely,” he added, “with the Central Bank of Brazil now heavily promoting a transition to digital payments in Brazil”.
“This partnership with TAS Group is an important CREDZ step aimed at providing added value services to our customers, as part of our innovation strategic plan,” commented Estevan Portela, Operating Director of CREDZ
About TAS Group
TAS Group is a market leader in payments technology, delivering innovative software solutions for cards, payment systems, capital markets and extended enterprise for over 30 years. With a global reach and offices in 7 countries spanning Europe, North and Latin America, customers around the world rely on its advanced technology, secure, flexible and seamless payment solutions. TAS Group strives to simplify the way private enterprise, public sector, commercial and central banks interact with their customers, stakeholders and technology systems and is rethinking, reimagining and revolutionising commercial business processes for digital and mobile integration. Trusted by European Central Banks to manage millions of financial messages each day, its solid reputation in the market and outstanding SWIFT expertise has made it an internationally preferred partner in the financial industry. Today, over 100 million cards are managed on TAS solutions.
CREDZ is a Card Issuer and Brand in Brazil, working with a broad network of retail partners in different sectors, such as the construction materials business, the homeware business, and mostly in the clothing, footwear and fashion business in general. Founded in 2011 in São Paulo, Brazil, CREDZ began operating at the end of 2012 during a period of high economic growth and consumerism, where it satisfied a strong need for a convenient and rewarding means of payment. Through its strategic partnerships with the leading businesses in the sector, CREDZ seeks to deliver excellence in technology, business risk management, processing, marketing and services.