Banrisul Cartões SA (“Banrisul Cartões” or “Company”) is a publicly-held company established in Brazil, which operates in the south of the country, controlled by Banco do Estado do Rio Grande do Sul SA (“Banrisul”), with headquarters in the city of Porto Alegre, State of Rio Grande do Sul. Its operations are conducted in accordance with the rules and regulations of the National Monetary Council (the Conselho Monetário Nacional, or “CMN”), the Central Bank of Brazil (Banco Central do Brasil, or “Bacen”) and other regulatory entities that guide the market, integrated with its controller, whose benefits of the services provided between Controller and Subsidiary and the costs of the shared operational and administrative structure are absorbed according to the practicability and reasonableness of the services used.
The Company operates in the payments industry offering technological and competitive payments solutions, in line with the current market needs, in two product lines:
- “Vero” Acquiring Network: involves carrying out activities of accreditation, capture, processing and financial settlement of transactions in a wide portfolio of payment instruments, such as credit, debit, pre-paid and post-paid cards of various arrangements; and
- BanriCard Benefit and Business Cards: covers the issuance of pre-paid and post-paid cards (vouchers), administered through agreements, such as food and meals.
According to the Central Bank of Brazil, regulator of the payments industry, the Company is classified as a Payment Institution in the issuing and accrediting modalities and Payment Arrangement Institution.
Vero is among the leaders in the payments sector in the State of Rio Grande do Sul, in terms of total payment volume, having captured approximately R$30 billion in transactions in 2020. It has extensive coverage of establishments in Rio Grande do Sul, with more than 143 thousand active accredited merchants and a sales channel that operate in almost 90% of the state’s municipalities.
With consolidated activities, Vero now captures the major brands of the market, being the 9th largest acquirer in terms of total payment volume, responsible for 1.5% of the brazilian market share(1).
(1) Source: CardMonitor.