Latest Industry News

For most recent updates in the FinTech world and across the Americas, read some of our Press Releases, News Articles and Blog Posts.

View Recent Article
Keep Up To Date

Scroll down


Header image About page

NovoPayment Launches New Reloadable Prepaid Program

On the heels of launching Latin America’s first mall-branded gift card earlier this year, NovoPayment—Latin America’s prepaid card leader— announced the launch of the Sambil Visa General Purpose Reloadable (GPR) Card. As of July 1, a total of 2,700 cards had already been issued in just one kiosk at the Sambil Mall in Caracas, Venezuela, with average initial loads reaching twice the level expected per card. The company projects issuing 35,000 to 45,000 Sambil GPR cards throughout Venezuela by year’s end. “Our Sambil customers requested a reloadable card, and we heard them loud and clear,” said Anabel Perez, CEO, NovoPayment. “This new card offers them a better alternative to manage their finances while enjoying a safe, convenient way to shop.” Currently, more than 65% of the country’s population has little or no access to credit cards or bank accounts, making the Sambil Visa GPR Card an ideal and empowering financial tool. The Sambil Visa GPR Card can be used at more than 150,000 points of sale around the country where Visa is accepted, including domestic Internet purchases. Cardholders choose the load amounts, which can range from a minimum initial load of 100 bolívares (US$50) to a maximum per-transaction load of 4,000 bolívares (US$2,000). The Card can be used for transactions via ATM, SMS, P2P and web transactions at, and can reloaded at any of Plata's 250 reloading centers in any amount denomination, up to 4,000 bolívares (US$ 2,000). Sambil Mall Caracas is among the largest shopping centers in Latin America with more than three million square feet of space and 500 stores, and is joined by sister properties in Valencia, Margarita, Maracaibo, San Cristóbal, Barquisimeto and soon Punto Fijo (Sambil Paraguaná). Both the Sambil Visa Gift Card and the Sambil Visa GPR Card are now available at Sambil Mall in Maracaibo, Venezuela’s second largest city. More than 10,000 people visit Sambil Maracaibo on a daily basis, with more than 50,000 visiting on weekends. The Sambil Visa GPR Card is the fourth reloadable prepaid program launched by NovoPayment in Venezuela. The company’s other GPR programs in the country are Classic Plata, EDC Plata (utility/energy consumption) and Unica Plata (telecom/top-up)....
View Article
News header image

Estimated General Purpose Spending Cards for Latin America’s Unbanked

NovoPayment, Inc., Latin America’s leading prepaid card service provider and program manager, announced today at the 3rd Annual Underbanked Financial Services Forum its regional forecasts for general purpose spending cards – the classification given to branded payment cards similar in function to debit cards, but that require no underlying banking account. The company, which pioneered the payment category in the region, estimates a potential market of more than 300 million unbanked Latin Americans with a purchasing power of more than US$200 billion per year using prepaid spending cards by 2015. Such a development would provide access to POS, ATM, online transactions and mobile payments to a public that today relies almost exclusively on cash. “Our study revealed a significant market with the income, access to infrastructure and consumption behavior to be viable prepaid general purpose card users,” said NovoPayment founder and CEO Anabel Perez whose company’s cards are issued under the MasterCard, Maestro, Visa and Visa Electron acceptance brands. “Approximately 57% of the population has the need, the capacity, the means, and we believe the necessary economic and social incentives to warrant modern payment tools,” she added. “Prepaid general purpose cards have proved to be well suited for providing these services in a sustainable way.” The forecast which covers 15 countries – Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Guatemala, Ecuador, El Salvador, Honduras, Nicaragua, Panama, Peru, Mexico and Venezuela – is based on the measurement of such factors as size of labor force, poverty rates, wages, banking and mobile penetration, as well other metrics based on the company’s own experience in the field. “The combination of sustained economic growth, increasing intra-regional commerce and the prospect of major trade pacts present positive conditions for the growth of general purpose prepaid cards,” Perez said. “These events merit ongoing analysis and could push figures higher over time,” she added. The forecast is part of a larger study quantifying opportunities in Latin America for prepaid spending cards including the areas of wireless services, electricity, food vouchers and other key categories. In addition, the company also reaffirmed its objective of expanding to new Latin American markets and said it expected to make an announcement to that respect in the near future....
View Article
Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.