Mastercard Brazil has announced two strategic agreements aimed at boosting its presence in open finance and B2B payments, two segments the company views as key growth drivers in both processed payment volumes and revenue.
In open finance, Mastercard is partnering with Lina Open X, a fintech launched in 2020 to serve as the open finance and open insurance arm for financial institutions and insurers. Lina’s investors include RTM (controlled by B3 and Anbima) and MSW Capital, whose backers include BB Seguros, Baterias Moura, AgeRio, and Embraer. While financial terms remain undisclosed, the companies describe the deal as a long-term strategic partnership with potential for expansion into new formats.
Mastercard Brazil president Marcelo Tangioni noted the company’s global investments in open finance—including its acquisitions of U.S.-based Finicity and Europe’s Aiia—but emphasized the need for localized solutions in Brazil. “Open finance is growing rapidly here, but the market has its nuances. Bringing in external solutions would require heavy ‘tropicalization,’ so we decided a strategic partnership made more sense.”
Under the agreement, Mastercard will have exclusive rights to distribute Lina’s open finance services within the payments segment. Mr.Tangioni said that although data sharing in open finance has matured, payments remain a largely untapped area. “We’re a technology company, so there’s strong synergy in data and intelligence.”
The second major development is a commercial partnership with Oracle to embed a virtual card within the company’s enterprise resource planning (ERP) software in Brazil. The two companies already have a global partnership, now being extended locally. “The tool is ready. Oracle’s clients in Brazil will have access to a virtual card integrated into their purchasing, inventory, and payment reconciliation systems,” Mr. Tangioni said.
As a publicly traded U.S. company, Mastercard does not disclose country-level forecasts. However, Mr. Tangioni emphasized the size of the opportunity: “These are two market leaders—so the upside is enormous.”
He highlighted B2B payments as the next growth frontier for the card industry. While card penetration in consumer transactions is already high—58% of consumption in Brazil, rising to 85–90% with Pix—usage in business transactions remains low. “The next wave of growth is clearly in B2B,” he said.
Mastercard is also pushing further into artificial intelligence. In late April, it launched its “agentic” payments program in partnership with IBM. This solution integrates Mastercard cards with AI “agents” that can assist consumers in daily purchases. For instance, a card embedded in an app could use voice commands to complete transactions, based on user behavior and history. “It can remind you to buy dog food and complete the purchase with a voice command,” Mr. Tangioni explained.
In collaboration with fashion retailer C&A, Mastercard has also debuted the Shopping Muse platform. The tool mimics in-store shopping experiences by interpreting everyday language and providing personalized fashion and accessory recommendations. “Our data intelligence helps clients boost conversion and increase sales,” he said.
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