PagPop, a Brazil based e-payment company announced on December 13th 2013, that they would be joining BCtA (Business Call To Action) and plan to extend over 300,000 new credit card users across Brazil by 2015. Founded in 2006, PagPop enables self employed individuals and professionals to accept all major credit cards anywhere and anytime.
BCtA is a partnership formed between the Dutch Ministry of Foreign Affairs, Australian Agency for International Development, Swedish International Development Cooperation Agency, US Agency for International Development, UK Department for International Development, United Nations Development Programme, Clinton Global Initiative and the United Nations Global Compact to meet the Millennium Development Goals by 2015.
Only an estimated 40% of the population has bank accounts in Brazil. This is in conjunction with low internet access. To meet the growing demand of making and accepting online payments, PagPop created a system that enables users to link the client to a nuclear family member’s account and be able to pay for their services.
How it works:
PagPop gets its revenue through a fee charged for each transaction. The company cites increased revenue from the customer base for PagPop users, as incentive to use their platform. A large section of the users that are present at the moment come under the categories of independent or low income workers that require an affordable system for making transactions and accepting payments in a secure manner.
"We are pleased to join the Business Call to Action, which is aligned with our goal to empower low-income customers while promoting more efficient financial and payment service options," said Marcio Campos, CEO and Founder of PagPop.
"(PagPop's) new commitment with the BCtA will help meet the growing needs in the mobile payment market. We are confident that PagPop will also provide the necessary tools to reach more consumers, expand its transaction options and capability, and offer greater social inclusion," stated BCtA's Sahba Sobhani in a press release.
PagPop was founded as VitalCred in 2006 and was rebranded as PagPop when they participated in the first program of companies acceleration of the digital incubator 21212.The company has received investments through Cetus Investimentos, Intel Capital, Cisneros Group and Maubisa Group. PagPop is located in Rio De Janiro with 52 employees and boasts a client base of 60,000.