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.
Read More: Hot on the Heels of Its Apple Pay Integration, SpendHub by Hub-Suite Implements Google Pay
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.
Read More: Haru Invest’s USDT Fund Provides Unparalleled Digital Asset Diversification
“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.”
