RecargaPay

RecargaPay is a Brazilian fintech company that provides online money services. It was founded in 2010 by Rodrigo Teijeiro, Alvaro Teijeiro, and Gustavo Victorica. The company has over 300 employees based mainly in São Paulo, Buenos Aires, Argentina, and Miami, USA.

RecargaPay do Brasil Serviços de Informática Ltda.
Screenshot
RecargaPays's home page
Type of businessPrivate
Type of site
Mobile Money Wallet[1]
Available inPortuguese
FoundedNovember 1, 2010 (2010-11-01)
Headquarters
São Paulo
,
Brazil
Area servedBrazil
Founder(s)
Key peopleRodrigo Teijeiro
(CEO)
Álvaro Teijeiro
(CTO)
Gustavo Victorica
(COO)
Diego Escobar
(CFO)
Renato Camargo
(CMO)
IndustryInternet
Employees300 (March 22, 2020) [2]
URLrecargapay.com.br
RegistrationRequired
UsersOver 10 million wallets [3]
Current statusActive

History

The company was founded in 2010 by brothers Rodrigo and Álvaro Teijeiro, currently CEO and CTO respectively, and Gustavo Victorica, current COO.

Recarga.com operated in Latin America and in the United States under the ownership of Fnbox, a technology holding company that manages various online businesses. By August 2012, the company had processed transactions in six countries for 110,000 customers across more than twenty mobile carriers.[4]

In 2013, Fnbox began a process of dismemberment to focus exclusively on the mobile recharge business.[5] Consequently, Recarga.com became RecargaPay, and diversified its product offering.[6]

In February 2018 RecargaPay had raised $63 million in venture capital from a group of investors including IFC, TheVentureCity, DN Capital, Fabrice Grinda, Martin Varsavsky.[7]

RecargaPay is considered the largest mobile payments and digital financial services ecosystem in Brazil. In September 2018 RecargaPay launched its first physical product: a prepaid card.[8]

Services
RecargaPay's headquarters in São Paulo, Brazil.

RecargaPay allows payments through credit card, debit card, Livelo points, PIX, or its wallet which can be loaded via boleto, deposit, or bank transfer.[9] In the free plan, payments up to 500 reais have no extra charges, and in the Prime+ plan, it's up to 2,000 reais a month.[10]

Some merchants resell RecargaPay's services to attract customers, using phone recharges and bill payments for incentives.[10]

Cell phone recharges

RecargaPay supports multiple carriers: Claro, TIM, Vivo, Oi, Correios, Sercomtel, Algar, and Surf Telecom. It offers scheduled recharges, and an Offline Recharge option for those without credits.[11]

Transport card recharge

The service covers transportation cards from various cities, such as Bilhete Único and Cartão TRI, and offers cashback on the first recharge up to 20 reais with an automatic recharge option.[12][13][14]

Accolades

In 2016, RecargaPay was nominated in two categories of the Latam Founders Awards: Most Innovative Company and Best B2C Company, losing in both nominations for Pipefy and Nubank, respectively.[15] At the ReclameAqui Awards, RecargaPay received honors for four consecutive years: it achieved third place for Online Payments two times, the second place for Financial Solutions and the fifth place for Digital Payment Method.[16][17]

Year Award Category Result
2020 ReclameAqui Digital Payment Methods[18] 5th Place
2019 Financial Solutions[16] 2nd Place
2018 Online Payments[17][19] 3rd Place
2017 3rd Place
2016 LATAM Founders Best B2C Company[20] Nominated
Most Innovative Company[20] Nominated

References
  1. Kemmer Cernev, Adrian (March–April 2017). "O futuro do dinheiro eletrônico". Gvexecutivo. 16 (2): 44. Retrieved April 12, 2018.
  2. "RecargaPay Raises $22M in Series B Funding", FinSMEs (REAL TIME VC & PRIVATE EQUITY DEALS AND NEWS), 02/22/2018
  3. Richard Fenning , "RecargaPay Partners with Top App in Brazil", Linkedin Pulse, 07/21/2016
  4. "Latin American E-Commerce Leader Fnbox Chooses Adyen's Payments Platform To Facilitate Global Expansion". redOrbit. August 21, 2012. Retrieved September 12, 2012.
  5. "Latin America leads Global Mobile Growth". World Bank. July 18, 2012. Retrieved September 12, 2012.
  6. "Our team". Fnbox Ventures, Inc. Archived from the original on January 25, 2013. Retrieved September 12, 2012.
  7. "RecargaPay Raises $22M in Series B Funding" (in Portuguese). Brazil: FinSMEs, Ltd. February 22, 2018. Retrieved September 12, 2012.
  8. Fogaça, André (September 20, 2018). "RecargaPay lança cartão pré-pago com cashback de 1% em todas as compras". technoblog (in Portuguese). Mobilon Mídia. Retrieved May 5, 2021.
  9. "Recargapay cartão pré-pago" (in Portuguese). Cartão Pré-Pago. 11 November 2018. Retrieved May 5, 2021.
  10. Cernev, Adrian Kemmer (March 2017). "O Futuro do Dinheiro Eletrônico: Surgem novos meios de pagamento com potencial de expandir o acesso da população aos serviços financeiros e contribuir para o desenvolvimento econômico". 16 (in Portuguese). GV Executivo. pp. 42–45. Retrieved May 5, 2021.
  11. "RecargaPay" (in Portuguese). RecargaPay. Retrieved May 31, 2021.
  12. "App que carrega o Bilhete Único: veja como usar o RecargaPay no celular". Techtudo (in Portuguese). February 13, 2019. Retrieved May 31, 2021.
  13. "Bilhete Único pode ser recarregado por aplicativo de celular em São José" (in Portuguese). Meon. Retrieved May 31, 2021.
  14. "ACTU inicia vendas de passagens online via RecargaPay" (in Portuguese). Engeplus Empresas. March 10, 2021. Retrieved May 31, 2021.
  15. "Third Annual Latam Founders Award Gala to Be Held in Sao Paulo" (in Portuguese). São Paulo: Latam Founders Network. April 12, 2016. Retrieved April 18, 2021 – via PR Newswire (Cision US, Inc.).
  16. "Prêmio Reclame AQUI 2017" (in Portuguese). Reclame AQUI. 2019. Retrieved April 18, 2021.
  17. "Netflix é a grande vencedora do prêmio Época ReclameAqui 2018". Época (in Portuguese). Globo.com. October 30, 2018. Retrieved April 18, 2021.
  18. "Prêmio Reclame AQUI 2017" (in Portuguese). Reclame AQUI. 2020. Retrieved April 18, 2021.
  19. "Prêmio Reclame AQUI 2017" (in Portuguese). Reclame AQUI. 2017. Retrieved April 18, 2021.
  20. Santos, Fernanda (May 11, 2016). "E os vencedores do Latam Founders Awards 2016 são…" (in Portuguese). Startupi. Archived from the original on June 2, 2021. Retrieved April 18, 2021.
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