WIRECARD MOVES DEEPER INTO BRAZIL: European payment processor Wirecard is launching new offerings for its small business clients in Brazil, according to Finextra. The firm’s new features — which will become available in October — will allow its small business clients to make transfers to third parties without having to make intermediary transactions to their own bank accounts or make bill payments. And Wirecard will provide them with card solutions and lending services for financial management. Nearly 33% of the Brazilian population is unbanked, but they’re leveraging other services — fintech adoption is growing 30% YoY, indicating room for growth for payment solutions and demonstrating consumer willingness to try alternative services. Wirecard already has thousands of small merchant clients using its offerings, giving it an addressable base for this solution. If the product succeeds in Brazil, the market can serve as a blueprint for Wirecard to launch similar offerings in comparable markets.


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