Poynt is thrilled to announce a partnership with Rede, the acquiring subsidiary of Latin America's largest bank Itau Unibanco, to bring the Poynt Smart Terminal to their millions of merchants in Brazil. Brazil is one of the largest payments markets in the world with very high card penetration that’s growing over 16% year-over-year, a three year terminal replacement cycle, an advanced developer ecosystem and challenging retail experiences including installments and invoices. This, combined with high penetration of tech savvy mobile consumers, makes Brazil a great launchpad for international expansion of the Poynt Smart Terminal. Rede’s passion for bringing merchant value through technology innovation makes them the perfect partner for Poynt.
The international market represents an exciting area of opportunity for Poynt. It is understood globally that software and services are key to changing the commerce landscape in those markets forever, which is why there has been tremendous interest in Poynt from around the world. The flexibility and scalability of the PoyntOS ensures that we can work with any type of software in any language. The apps that will be offered in the Poynt Store are intended to set up merchants in ways that immediately put the power of informed business decision-making back in their hands. Customized shopping experiences for customers also become a reality with Poynt. With tailored promotions, offers, loyalty programs and more, merchants using Poynt can target their best customers with personalized services and solutions, all without compromising security.
Here in the US, merchants are heavily entrenched in EMV migration, the largest payment infrastructure change in US history. Internationally, many markets that have been EMV compliant for years are now shifting focus to the next era of payments. We're excited to lead the world towards the next chapter in global, connected commerce.