Marqueta, a global card issuance platform, has announced an expansion into Brazil. The company cooperates with Latin American banking platform Fitbank and certifies the network with Visa

As part of Marqeta’s partnership with Fitbank, the company will be a Marqeta customer, use it as a payment processor, and will act as a BIN sponsor for Marqeta customers who want to get started in the area.

“We have followed Marqeta’s growth and global expansion for some time now, and given we are also expanding globally, there couldn’t be a more natural card issuing partner for Fitbank in Brazil,”

“Through our partnership, I believe we can enable global companies and local innovators to bring amazing payment products to market, amplifying the strengths of each of our companies.”

Otávio Farah, co-founder and CEO at Fitbank.

Fitbank provides a complete and personalized cloud banking and credit infrastructure to thousands of customers, and is one of the state-of-the-art platforms licensed and integrated by the Central Bank. Direct integration with PIX, Brazil’s real-time payment system.

They are currently a key member of Visa with plans to expand the network. Marqeta will serve as Fitbank’s technology platform to support payment processing and local card issuance in Brazil. It will also use Marqeta’s real-time decision engine to enhance its fraud management capabilities. Fitbank will also act as the local BIN sponsor and banking service provider of Marqeta.

“We are thrilled to be announcing our launch in Brazil to bring the Marqeta platform to one of the most exciting FinTech markets in the world,”

“Our new partnership with Fitbank puts us on a great footing in Brazil. The two companies have great DNA fit. Fitbank is a tech-forward platform interested in building innovative payment solutions.”

Todd Pollak, Chief Revenue Officer at Marqeta.