Published in 10/10/2012
Flag was authorized to operate with BNDES Card and is expected to become operational in early 2013.
The flag of Cabal cards is the newest partner of the BNDES Card. The announcement was made this Wednesday, 10 at BNDES headquarters in Rio de Janeiro, during commemoration ceremony for its 10 years of operation of the product.
With this partnership, financial institutions interested in issuing BNDES Card now have a new option of payment, because the operating model of Cabal flag provides for the licensing of issuers in the country.
"We are absolutely sure that Cabal Flag will be an important partner of BNDES Card and should contribute to the entry of new issuers, like financial institutions operating in the corporate segment, but not operating cards in scaling function. Especially thinking of these institutions we have developed a differentiated policy of flag services and combined processing, said Marcos Vinicius Viana Borges, General Director of Cabal Brazil.
According to Borges, Cabal Brazil shall perform acquiring activities of BNDES Cabal Card. The executive also emphasizes that the model is not exclusive and that Cabal Flag is open to operate the product with other purchasers.
According to the BNDES Card Operations Manager, Mauricio Schaffer, the partnership with Cabal Brazil will bring more options to BNDES Card, either on the issuing end, or at the acquiring end. With this partnership, we hope to further spread BNDES Card around the country, especially with the entry of new financial institution issuers. We further hope that this partnership expands the number of suppliers with the reduction in the discount rates practiced today.
The first issuer of BNDES card with Cabal Flag will be the Banco Cooperativo do Brasil (Bancoob), a private commercial bank specializing in serving credit unions, which controlling interest belongs to affiliated entities to the System of Credit Unions of Brazil (Sistema de Cooperativas de Crédito do Brasil - Sicoob). Bancoob is the provider institution of products and services for Sicoob cooperatives with the goal to supplement the business portfolio available to its members. According to Borges, soon other issuers shall be announced.
Founded in 1980, Cabal flag operates in Argentina, Uruguay, Paraguay and Cuba. In Brazil, the operation began in 2000. Currently Cabal Flag operates with credit, debit and benefit cards.