What is Hipercard?
Hipercard is a credit card accepted in Brazil and issued by Itaú Bank. It’s one of Brazil’s most popular payment options, especially in the Northeast and South regions. Hipercard counts over 470 thousand accredited establishments and has more than 13 million cards in circulation since 2010.
Hipercard was initially created as a loyalty card for Bompreço grocery stores in Recife back in 1969. Its expansion started in Recife in 1991, when its name was changed to Hipercard, and by 1993, it was fully operating as a credit card. This expansion turned Hipercard into the first store card to be accepted by other commercial establishments as a credit card.
Today Hipercard serves as a payment method that facilitates financial transactions for consumers and businesses, allowing shoppers to pay for purchases with revolving credit within the Bompreço network of stores, in addition to being accepted at other retail locations.
Hipercard is one of Brazil’s most popular credit cards for online purchases.
How does Hipercard work?
Customers can request Hipercard online and in person. To apply for the card online, they need to enter the Hipercard website and access the “Cards” menu. Once on the cards page, they choose the type of card and order it. To complete the order, customers need to complete a form and wait for it to be approved.
To complete a purchase, sign Hipercard; the customer simply enters their credit card details on the payment page in checkout.
Why do merchants and consumers use Hipercard?
Hipercard has become a go-to payment method for many Brazilian consumers because it’s convenient, easy to use, and secure. Some variants of the card offer users discounts at partner establishments across areas such as food, well-being, health, and more. The card comes with a mobile application, a virtual card with international coverage, and participation in the Mastercard Surpreenda points program.
With a population of over 200 million people, Brazil is a fantastic market opportunity for any e-commerce business. By offering local payment methods such as Hipercard, merchants can give local customers the opportunity to shop in their store using a payment option they know and trust. This helps to complete purchases faster and more efficiently, while making customers feel more confident shopping from international sellers.
By meeting customers where they are, merchants offering Hipercard and other popular local payment methods at checkout can increase conversion rates and reduce the number of abandoned shopping carts.
How can merchants integrate Hipercard?
Merchants can offer Hipercard and other essential local payment methods by implementing a payment gateway that offers access to these options. This not only improves the checkout experience for local customers, but also motivates those same customers to return in the future.