According to the article,
Visa’s wholly-owned subsidiary Visa International will continue working with CBSS to offer prepaid cards and cards used to deliver government benefits in Brazil, one of Visa’s fastest-growing markets, the company said.
Ruben Osta, Visa’s country manager for Brazil, said the growth of prepaid cards is crucial to Visa’s business strategy. He called the investment “an example of Visa’s long track record in employing strategic investments to help drive growth in emerging categories.”
The sale is subject to regulatory approval by Brazil’s Conselho Administrativo de Defesa Economica.
The payment card market in Brazil has undergone major changes in recent years. For example, Visa and MasterCard’s exclusive acquiring contracts with their respective local partners have ended due to regulatory changes. That has opened up the local acquiring and processing market that attracts a lot of interest from both domestic and international players.
See the original article here: http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9L02NL82
