Atlanta-based InComm Payments, a fintech firm focused on gift cards and other alternative payments, is deepening its commitment to the Brazilian market with a new IT hub that will hire 200.
The new office, which will focus heavily on software development and quality assurance automation, database operation and more, will be based Fortaleza, a city of nearly 3 million people located in the northeastern state of Ceará.
InComm is no stranger to Brazil, and the new location will give the company a presence spanning the country from north to south. InComm since 2012 has operated a headquarters in São Paulo and in 2020 acquired gift-card payment processor Todo Cartões in the southern city of Porto Alegre.
With 200 million people, a strong banking system and a solid middle class emerging in the early 2000s, Brazil has been a hotbed of fintech innovation, particularly since the payments sector was relaxed to allow for more grassroots entrants and consumer choice. InComm processes payments mostly on its own closed-loop systems rather than on credit-card networks like Visa and Mastercard. It also focuses heavily on prepaid cards, which are vital to bringing cash-heavy societies into the digital payments ecosystem. More than half of Brazilians still use cash first, according to the company.
InComm sees opportunity in the retail, financial services and mobile payment spaces and sees the investment as both capitalizing on Brazil’s strengths and helping further build its tech sector.
“The IT roles we create here will greatly complement our U.S. developers, whose industry-leading work continues to drive payments innovation across more than 40 countries where we have a presence,” said Mark Holt, chief information officer, in a news release.
Within Latin America, InComm also works in Colombia and Mexico and counts 1,000 customers around the world. Within Georgia, it has a gift-card manufacturing facility in Newnan and another IT outpost in Columbus.