Venezuela

We are constantly expanding operations to new markets, through our subsidiaries Tebca and Servitebca, to meet prepaid needs in the Latin American region

Since 2004, NovoPayment has successfully developed, launched and managed a variety of programs through Venezuelan subsidiaries Tebca (Transferencia Electrónica de Beneficios C.A.) and Servitebca (Servicio de Transferencia Electrónica de Beneficios, C.A.) to meet the needs of underserved market segments.

In 2004, backed by MasterCard and Banco Venezolano de Crédito –one of the country’s leading banking institutions– Tebca began marketing the Bonus® Alimentación card as a practical, safe and effective option for companies that provide food and meal benefits as part of employee compensation.

The following year, NovoPayment developed and implemented a corporate solutions program to help companies manage cash outlays such as incentives, sales commissions and other business expenses through the use of prepaid cards. The program, branded Plata, is offered through the company’s Servitebca subsidiary. The cards are backed by MasterCard and Visa and are sponsored by Venezolano de Crédito.

In 2006, Servitebca further broadened its portfolio of prepaid options for the unbanked with the introduction of co-branded programs with telcos and utilities (Electricidad de Caracas and Movilnet). It also entered into a strategic partnership with Constructora Sambil, Venezuela’s leading developer of shopping malls, to distribute prepaid gift and reloadable cards. In order to facilitate card sales and reloading, the company created, installed and manages Money Centers in several locations.