In addition, beginning in June 2011, FPS will process the brand’s prepaid cards issued by Cia Brasileira de Solucoes e Servicos (CBSS) under the new brand.
FIS said the ELO-branded cards will be available to all social classes within Brazil and aim to leverage the use of plastic as an instrument to enhance access for about 40 million Brazilian citizens.
The new ELO cards will provide the convenience and security of using credit, debit and prepaid cards as alternative means of payment, claims FIS.
FPS president Reginaldo Zero said they are proud to team with Banco Bradesco and CBSS on this venture for the new ELO prepaid family of cards.
"We are on the forefront of an emerging market and will be extremely successful in providing many Brazilians with a new payment method that was previously unavailable to them," Zero said.
