News

Brazilian prepaid card issuer migrates to Compass Plus processing platform

August 30, 2018

Compass Plus, a provider of retail banking and electronic payments software, has announced it has migrated its first customer in the Americas to the company's processing center.

According to a press release, the migration of BPP, a Brazilian prepaid card issuer, was accomplished within just two months.

BPP manages a wide range of corporate and consumer prepaid programs — from multicurrency virtual and physical accounts to traditional vouchers and gift cards — selected the Compass Plus Processing Center to manage the issuance and processing of its Visa prepaid portfolio.

The Compass Plus Processing Centre is built on a proprietary open development payments platform, TranzAxis. BPP plans to implement further TranzAxis features to support new products and expand its card throughout Latin America.

"Since the beginning of our partnership, Compass Plus has delivered high quality services, advice and customisation where needed," said Mair Calvo, IT Director at BPP. "Their work has helped us develop Fênix – a brand new digital accounts, prepaid cards and payments platform designed to deliver high performance, safe and smart payments, with the best possible user experience."

"We are delighted to provide processing services to BPP, which is making inroads in Latin America with its card products," Rafael Marinho, Associate vice president and business development director for Brazil, said in the press release. "The bank is our first processing customer in the region, and we look forward to sharing success and working together to shape the processing landscape."