Home News & events Press Releases 2012 Compass Plus Expands Customer Base in Brazil

 

Compass Plus Expands Customer Base in Brazil

bCompassPlusCompass Plus, an international provider of retail banking software and electronic payments systems, announced it has recently signed two new clients in Brazil and appointed Rafael Marinho as sales director of Brazil to lead the Rio de Janeiro office and increase expansion efforts in the country.

Compass Plus’ TranzWare technology is now being leveraged to drive operations by a Sao Paulo-based processing company that processes more than two million cards per month, on behalf of approximately 20 financial institutions. In addition, Compass Plus is working with a regional card issuer in Brazil to replace the company’s in-house platform with TranzWare solutions.

Mr. Marinho has led the company’s primary entry and expansion in the region through an office in Rio de Janeiro since 2009. With Brazil’s status as the third largest credit card market in the world and Compass Plus’ growth in the country, Mr. Marinho’s new position is dedicated to sales and service exclusively in Brazil. Support for the Spanish speaking Latin America and Caribbean market is managed by Juan Bustios out of the Compass Plus office in Miami.

“Due to recent company growth in Brazil, we felt it was important to concentrate resources in this country,” said Mr. Marinho. “I welcome the challenge of leading expansion efforts in Brazil and am confident the growing card market here will benefit greatly from Compass Plus’ flexible, innovative technology.”

“Brazil represents a very strategic market for Compass Plus’ international expansion,” said Olga Demina, Chief Business Development Officer and Vice President for Compass Plus. “The country is only behind the United States and China in terms of credit card market size, creating a significant market demand for Compass Plus’ products. With the signing of two new clients, undeniable potential for growth and language division from the remainder of South America, we felt it was important to have an office and sales director dedicated exclusively to Brazil. We look forward to further solidifying Compass Plus’ leadership in card management technology in the country.”

Compass Plus supports offices across the globe including the United States, United Kingdom, UAE, Russia, Singapore and Vietnam.

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