Brazilian customers can now use a new prepaid card from Mastercard and AstroPay following a partnership. The paytech, AstroPay will enable them to use these cards in any stores that accept Mastercard.
Users can activate and use the prepaid card instantly without any charge and pay in any merchants that accept Mastercard. The card also comes with benefits including cashback and other perks available in the AstroPay platform. Users can use the physical card to pay in stores and withdraw money from an ATM as well as make online payments with the virtual card.
The global brand adds to the growing network of solutions offered by AstroPay to its customers.
Guillermo Dotta, CTO and chief product officer of AstroPay, said: “When it comes to digital money and fintechs, Brazil is one of the most advanced countries in the world, and the partnership with Mastercard honours our long-standing commitment to Brazilians to deliver the simplest solutions to handle money in the most secure and simple way.
“As we build a strong community of consumers, our focus remains to continue innovating to adapt and streamline payment solutions. We want to integrate cards into our overall product offering to ensure that the needs of our users are exceeded.”
Thiago Dias, fintech and enablers vice president, Mastercard Latin America and Caribbean, said: “As the partner of choice for fintech companies, Mastercard is pleased to work with AstroPay to provide innovative solutions that help advance financial inclusion while offering consumers with a seamless and secure experience.”
More prepaid cards
This is the second prepaid card to be released by Mastercard in the last 3 weeks. Malaysia-based payments company Instapay has partnered with Mastercard to launch Glyd Prepaid Corporate Card for SMEs.
The prepaid card aims to help small businesses manage their finances better, while saving time and money. The company allows SMEs to receive prepaid corporate cards, virtual and physical, and distribute them among their employees. This is achieved as they are given access to its expense management portal.
Small businesses can easily set their expense budgets and define limits for employee spending, as well as manage their whole budgets smarter with the card.
By partnering with Mastercard, Instapay aims to drive financial inclusion and help small enterprises to enhance their reach. As digital payments become a way of life for millions of people and businesses around the world, it is crucial for local payment methods to expand their portfolio and cater to the underbanked and underserved population, while helping SMEs enhance their cash flow and providing secure, fraud-free payments.