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First Data Launches Brazil Payments System

Monday, August 18, 2014 5:00:00 AM PDT | VentureDeal

   Sao Paulo, Brazil  --  First Data has announced the launch of a new payments system for the Brazilian market.

Called Bin, the company aims to provide an easy to use and flexible payment solution that is focused on small and medium businesses.

Bin is the result of an operational agreement between First Data and Bancoob, the banking arm of the largest credit union cooperative system in Brazil.

First Data said that it has invested more than $150 million in developing the Bin solution.

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