[ad_1]
Magazine Luiza, through its subsidiary Magalu Payments, announced the purchase of 100% of the payment institution Hub Prepago Participações for R $ 290 million. The conclusion, however, is subject to certain conditions precedent, including its approval by the Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil.
The acquired company has more than 250 employees and about 4 million active digital accounts and prepaid cards, which handled approximately R $ 6.6 billion in the last 12 months (Total Payment Volume – POS), generating gross income ( unaudited) of R $ 159 million in the same period.
Hub Fintech, which began operating in 2012, is a payment institution regulated by the Central Bank and fully integrated with the Brazilian Payment System (SPB) and the Instant Payment System (PIX), through its subsidiary Hub Payments.
According to Magalu, in addition to offering a digital account and a prepaid card directly to its customers, Hub is one of the largest Banking as a Service (BaaS) platforms and a leader in processing prepaid cards, serving customers in various segments such as retail , mobility, financial institutions and fintechs.
Among the main solutions developed by Hub are the entire banking structure to offer financial products and services through a digital account; direct connection with relevant market participants, including lotteries and ATMs; robust API platform capable of processing and reconciling millions of transactions; complete system for the issuance and processing of prepaid cards of the main brands and a card personalization center, with a production capacity of 30 million cards per year.
After the integration with Hub, MagaluPay clients, individuals and companies, will have the market’s financial products and services platform, free of charge and fully integrated with SuperApp.
With the digital account, clients will be able to make purchases, deposits, transfers (P2P, TED, DOC and PIX), payments (payment slips, consumer accounts, taxes and PIX), withdrawals (lotteries, ATMs and Magalu stores) and services. such as cell phone recharges and transportation vouchers. In addition, they will have a prepaid card that reflects the balance of the digital account, also allowing transactions in the physical world.
Do you want to receive rent without owning a property? Thomaz Merluzzi, XP Real Estate Fund Strategist, offers free training for those looking for a source of passive income. Register now!
[ad_2]
