Todo

What Todo does

Todo is a Brazilian business-to-business gift card processing platform that enables retailers and corporations to launch, operate, and reconcile omnichannel gift card programs without building proprietary infrastructure. The company operates a gift card processing platform integrated with physical point-of-sale systems (Linx, SITEF TEF, OKI Scope), e-commerce platforms (VTEX), and APIs, supporting both single-brand retailer gift cards and Zift Card, Brazil's first multi-brand gift card redeemable across 40+ brands and 1,100+ physical points. Supporting modules include financial reconciliation, risk analysis and anti-fraud management, corporate bulk issuance, gift registries, and sales performance analytics.

Originally founded as Todo Cartões in 2012 by João Espíndola and Gregório Rados, the company was acquired by US-based InComm Payments in 2020, transforming into 'Todo an InComm Payments Company' and gaining access to InComm's global distribution network of 500,000+ points. In 2023, parent InComm acquired Incentivale, Brazil's largest B2B gift card distributor, completing a processing-B2B-B2C ecosystem under the InComm Brasil umbrella. Today the platform serves 75+ retail partners and 10,000+ integrated stores across fashion, sporting goods, cosmetics, restaurants, department stores, and specialty retail, with named clients including Centauro, Carrefour, Outback, Riachuelo, Nike, O Boticário, and Casas Bahia.

Todo monetizes through transaction-based take rates and technology fees on gift card processing, with revenue split across retail gift card processing, B2B corporate gift card sales (representing ~69% of peak-period volume), and Zift Card multi-brand transactions. The company employs 11-50 people across offices in São Paulo (regional HQ at CUBO), Porto Alegre (at Instituto Caldeira), and Barueri (Alphaville), and sells exclusively to the Brazilian market through direct enterprise sales, partner retail stores, e-commerce integrations, and marketplace channels including Rappi.

Name

Todo

Legal name

Todo InComm Payments Company

Website

https://todoincomm.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Todo is a Brazilian B2B gift card processing platform, operating as a subsidiary of InComm Payments since 2020, serving 75+ retail chains and corporate buyers with omnichannel gift card solutions and Zift Card, Brazil's first multi-brand gift card redeemable across 40+ brands.

Ownership category

akta.pro rank

Product category

Gift Card Processing Technology

NAICS

Gift, Novelty, and Souvenir Retailers (45942)

SIC

Retail-Misc General Merchandise Stores (5399)

akta.pro primary industry

Closed-Loop Gift Cards (Single-Merchant) (FSAMANAB)

akta.pro secondary industry

Scheduled/Subscription Gifting (Reminders & Recurring Sends) (HSACANAJ)

Keywords

• Gift card processing
• Corporate reward programs
• Multi-brand gift cards
• Prepaid card services
• Retail payment technology

Headquarters

HQ city

São José

HQ country

Brazil

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Gift Card Processing and Technology: Todo provides technology platforms for gift card processing to Brazilian retailers, handling the technical infrastructure, integration, transaction processing, and operational management of gift card programs. Revenue is generated through technology and processing fees charged to retail partners.
2. Corporate Sales (B2B): Sale of gift cards directly to corporations for employee rewards, incentives, and customer appreciation programs. Represents approximately 69% of sales volume during peak periods.
3. Retail Gift Card Sales: Facilitation of gift card sales across physical retail stores and e-commerce channels, with revenue from processing fees on each transaction.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Todo operates a proprietary gift card processing platform that enables Brazilian retailers to issue, sell, and redeem physical and digital gift cards across physical stores, e-commerce, and omnichannel environments. The platform includes POS and API integrations, risk and anti-fraud management, financial reconciliation, and franchise support. Beyond retailer technology, Todo sells the Zift Card multi-brand gift card to consumers and provides corporate bulk purchasing of gift cards for employee rewards and incentive programs.

Product overview

Todo operates a unified gift card platform ecosystem consisting of three core offerings: the Gift Card Platform for single-brand retailer solutions, the Zift Card multi-brand gift card product, and Corporate Purchasing solutions for B2B sales. Supporting services include gift registries, customer support, financial reconciliation, fraud prevention, and sales analytics. The platform supports omnichannel operations with physical store POS integration, e-commerce, and API-based bulk corporate issuance.

Differentiator

Problem solved

Functional benefit

Products and services

• Plataforma Gift Cards (Gift Card Platform) Complete gift card processing platform enabling physical and digital card sales, omnichannel redemption (online purchase with in-store pickup), risk analysis, fraud prevention, and franchise management for Brazilian retailers. Integrated with physical store POS systems and e-commerce platforms.
• Zift Card Brazil's first multi-brand gift card allowing recipients to choose and redeem at over 40 partner brands across categories including fashion, home, dining, and beauty. Available in physical (1,100+ points) and digital formats in denominations from R$10 to R$1,000.
• Compras Corporativas (Corporate Purchasing) Corporate gift card solutions for B2B sales, employee rewards, team incentives, and bulk issuance with instant code generation, direct corporate invoicing, and flexible volumes/values/brands. Represents approximately 69% of sales volume during peak periods.
• Lista de Presentes (Gift Registry) Gift registry service for weddings, baby showers, and other celebrations, allowing guests to contribute toward gifts using Todo's payment infrastructure.

Quantifiable outcome

• Average upsell of 30-40% above gift card value when redeemed
• +5 more outcomes

Named customers20 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature8 records

Partnerships

Six partnerships are on record, tiered flagship and core.

• InComm PaymentsflagshipStrategic or Co-development Partner · 1 January 2020InComm Payments acquired Todo in 2020, combining Todo's proprietary Brazilian technology platform with InComm's global distribution network. This partnership created the largest gift card ecosystem in Brazil, with Todo becoming 'Todo an InComm Payments Company.' The acquisition provided Todo with access to InComm's 500,000+ global distribution points and global brand credibility while maintaining local technology expertise.
• VTEXcoreTechnology or IntegrationIntegration partnership for gift card processing with VTEX e-commerce platform, enabling seamless gift card sales for retailers using VTEX's commerce infrastructure.
• LinxcoreTechnology or IntegrationIntegration with various Linx POS systems for gift card processing at physical retail locations.
• RappicoreChannel Partner/ Reseller/ DistributorRappi serves as a distribution channel for gift cards, making them available for purchase through the Rappi delivery platform.
• IncentivalecoreChannel Partner/ Reseller/ DistributorIncentivale is Brazil's largest B2B gift card distributor, acquired by InComm in 2023. They specialize in corporate incentive and reward solutions, distributing gift cards to over 15,000 corporate clients.
• Grupo Pão de AçúcarcoreChannel Partner/ Reseller/ DistributorGrupo Pão de Açúcar served as the initial retail partner for Zift Card pilot testing, with over 642 stores across multiple Brazilian states carrying the multi-brand gift cards.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tremendous: US/global digital corporate gifting and rewards platform delivering bulk gift card payouts to employees and customers worldwide. Closely comparable to Todo's Compras Corporativas module and Incentivale distribution model.
• Giftbit: Canada/US B2B gift card delivery platform with API-driven bulk issuance, fraud controls, and reconciliation features — a near-tech-stack analogue to Todo's gift card processing platform for SMB and enterprise retailers.
• Flash Benefícios: Brazilian multi-brand corporate benefits prepaid card/app that overlaps directly with Zift Card and Todo's corporate gifting use cases across flexible benefits, meal vouchers, and recognition rewards.
• Alelo: Brazilian corporate prepaid benefits issuer covering meal, food, and gift cards. Directly competes with Todo for the same Brazilian retail and corporate accounts, and historically operated as an open-loop competitor.
• Caju: Brazilian multi-brand corporate benefits card competing head-to-head with Todo's Zift Card and Compras Corporativas. Operates in the same B2B gifting, food/meal, and flexible benefits categories with overlapping retailer network.

Broad incumbents

• Blackhawk Network: Global gift card and prepaid payments distributor with direct rival technology (Gift Card Mall / PayHub). Most directly comparable international peer in retailer-branded gift card processing and corporate incentive fulfillment.
• Edenred Brasil (Ticket): Brazilian arm of global benefits leader Edenred, dominant in Ticket Log meal and corporate voucher programs. Competes with Todo for large Brazilian corporate gifting and benefits mandates at enterprise scale.
• InComm Payments: Parent company of Todo and the global leader in prepaid payments and gift card distribution. Operates 500,000+ distribution points worldwide and provides the same closed-loop and multi-brand gift card infrastructure that Todo offers in Brazil.

Emerging players

• PicPay: Brazilian digital wallet with significant user base and merchant relationships. A plausible entry point for P2P gifting and corporate reward infrastructure that could erode Todo's closed-loop gift card positioning if launched.
• Mercado Pago: LATAM fintech super-app with growing merchant network and wallet. Could expand into white-label gift card and incentive processing, potentially disintermediating pure-play processors like Todo at the merchant level.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCT5zD2qjENufW7qdvJe0nJw
• Facebookfacebook.com/todoincomm
• LinkedInlinkedin.com/company/todocartoes/?viewAsMember=true
• Instagraminstagram.com/todo_incomm

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Todo