Brazilian Credit Card Issuer Afinz Moves to FIS for Processing Services to Support Growth Strategy
FIS has partnered with Brazilian fintech Afinz to provide processing services for its private-label credit card portfolio. Afinz, formerly Sorocred, aims to enhance its operations and support growth by outsourcing card processing to FIS. The migration to FIS's advanced credit card processing platform was completed in early September, improving operational efficiency. This long-term agreement also includes services for a new co-branded credit card with Visa, indicating Afinz's commitment to expand its offerings in the Brazilian market.
- FIS will provide enhanced processing services to Afinz, improving speed and efficiency.
- The agreement signifies a long-term partnership with potential growth opportunities for both companies.
- None.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--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.
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.
“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.”
About FIS
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. We have more than 55,000 people that are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).
About Afinz
Afinz was founded in 2020 with a 30-year tradition, inherited from the financial services provider Sorocred. The financial services platform connects retailers and consumers and offers a complete portfolio of solutions that guarantee a simpler, more transparent and hassle-free shopping, selling and payment experience.
Afinz's financial solutions serve individuals and companies, as well as small entrepreneurs, who are usually not adequately attended by traditional banking services and products. For more information, visit the website: https://afinz.com.br/.
