Rede, Poynt Co. to bring smart terminals to Brazil

Rede and Poynt Co., a subsidiary of Itaú Unibanco, announced Thursday it has entered into a partnership to bring smart payment terminals to Brazilian merchants in 2016.

The smart terminal uses mobile technology to allow merchants using their system to manage business through electronic means as a multipurpose device. Through this partnership, Brazil will be the first country outside of the U.S. to use the Poynt payment terminal system.

"This new partnership will allow Rede to offer a pioneering and innovative solution for electronic payments in Brazil,” Rede CEO Milton Maluhy Filho said. “We will provide applications to improve the shopping experience through the Poynt Store, build a cloud connection to the countertop, and develop enhanced services to create new revenue streams for the merchants and offer more convenience for the customers. The Brazilian payments market is constantly evolving. Poynt and its innovative products fit perfectly into our strategy of enhancing the use of the many payment types in region and help us serve the needs of our clients even further."

The terminal is able to accept multiple payment methods including smart payment cards that use chips, QR codes, beacon and traditional credit and debit cards.