What Riocard Mais does

Riocard Mais (legal entity Mais.Mobi) operates the dominant electronic fare collection system for public transportation in the state of Rio de Janeiro, Brazil. Founded in 2003, the company issues rechargeable smart cards (Cartão Riocard Mais Expresso) and digital card variants accepted across all transport modes — bus, metro, train, ferry, BRT, VLT, and intercity vans — in 90+ cities. The platform processes approximately 1.7 billion transactions annually and supports 9+ million active cards, including 1.85 million gratuity cards for seniors, students, and people with disabilities. Underlying technology includes cloud-based fare management with D+1 operator settlement, NFC and QR code payment, and a facial biometrics verification system that has processed over 1 billion events since 2017 to prevent benefit-card fraud.

The company operates a multi-sided business model serving individual commuters, corporate employers managing vale-transporte benefits under Brazilian labor law (Lei 7.418/1985), and transport operators plus public authorities requiring clearing and settlement services. Revenue streams include transaction processing fees from operators, card sale commissions and security deposits (R$4.30), corporate subscription packages (Gestão+VT and Facilita+VT), delivery fees, and adjacent services such as the Ecobonuz-powered Clube Riocard Mais loyalty program. Distribution combines a 16-store physical retail network across the state, authorized resellers, self-service machines, a corporate sales channel via authorized benefit agents (including WeBenefícios), and digital self-service through the Riocard Mais mobile app and the Tomais WhatsApp AI assistant. The legal beneficiary per invoice records is Mais.Mobi (CNPJ 57.929.012/0001-12), succeeding the prior entity Riopar Participações.

Riocard Mais holds a regulatory mandate as the fare collection manager for Rio de Janeiro state and operates the Bilhete Único Intermunicipal integration across all transport modes. The company's strategic position is complicated by the City of Rio de Janeiro's contracting of a new ticketing provider effective August 2, 2025, which will materially alter the municipal fare collection landscape. No venture capital or private equity funding rounds are disclosed; ownership appears independent with no parent company. Revenue figures are not publicly disclosed.

Name

Riocard Mais

Legal name

Mais.Mobi

Website

https://riocardmais.com.br

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

Riocard Mais operates the dominant electronic fare collection system for public transportation in Rio de Janeiro state, processing 1.7 billion annual transactions across 9+ million active cards and 90+ cities. It serves commuters, corporate vale-transporte programs, and transport operators through smart cards, digital cards, biometric verification, and an interoperable clearing platform.

Ownership category

akta.pro rank

Product category

Electronic Fare Collection / Transit Payment Services

akta.pro primary industry

Transit & Mobility Fare Cards (Stored Value) (FSAMANAG)

Keywords

• Electronic fare collection
• Transit payment services
• Contactless transport cards
• Public transit ticketing
• Fare integration platform

Headquarters

HQ city

Rio De Janeiro

HQ country

Brazil

HQ region

Latin America

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Transaction Processing Fees: Fees charged to transport operators for processing electronic fare transactions through the Riocard Mais system. Operators include bus companies, metro, train, ferry services, and other public transport providers.
2. Card and Recharge Sales: Revenue from sale of physical cards (with security deposit of R$4.30) and recharge commissions. Consumers and corporations purchase and reload value onto cards through various channels.
3. Corporate Account Management Services: Premium services for enterprise clients including Gestão+VT and Facilita+VT packages that provide HR tools, priority support, consolidated reporting, and Valida Mais Empresa equipment for card validation.
4. Delivery Fees: Home delivery fees for cards ordered through the online store, with pricing varying by region (consulted by CEP).

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels6 records

Core offering

Riocard Mais operates the designated electronic fare collection system for Rio de Janeiro state, issuing rechargeable smart cards and digital payment credentials accepted across buses, metro, trains, ferries, BRT, VLT, and intercity vans in 90+ cities. It sells consumer cards (Expresso, Tour), corporate vale-transporte cards, gratuity cards for eligible groups, and delivers a B2B platform for transport operators providing cloud-based clearing, settlement, and biometric fraud prevention.

Product overview

Riocard Mais operates as a multi-product electronic fare collection (EFC) ecosystem serving the state of Rio de Janeiro. The portfolio centers on the Riocard Mais Expresso card — a rechargeable smart card accepted across all public transport modes (buses, metro, trains, ferries/VLT, BRT, and intercity vans) — supported by accessory form factors (pulseira/keychain/sticker) and a digital card variant. The Vale-Transporte and Empresarial corporate cards extend the offering to employers. Tariff benefits (Bilhete Único Intermunicipal, Bilhete Único Niterói, Tarifa Social programs) and gratuity cards (Passe Escolar, Passe Sênior, Passe Especial, Vale Social, Vale Educação) layer additional regulated benefits onto the card. A mobile app provides card management, NFC/QR Code payments, and scheduled recharges, while the Tomais WhatsApp assistant automates customer interactions. For transport operators, the Bilhetagem Digital platform offers cloud-based fare management, clearing, and biometric fraud prevention. The Clube Riocard Mais loyalty program, powered by Ecobonuz, adds rewards across a partner network.

Differentiator

Problem solved

Functional benefit

Products and services

• Cartão Riocard Mais Expresso A rechargeable, personal-use smart card accepted across all public transport modes in Rio de Janeiro (buses, metro, trains, ferries, VLT, BRT, and intercity vans), enabling fare integration, online recharge, and balance protection when registered to a CPF.
• Cartão Riocard Mais Vale-Transporte A corporate-issued rechargeable card that allows employers to pay for employees' home-to-work commuting costs per Law 7,418/1985. Accepted across all transport modes with up to eight uses per day and optional Bilhete Único Intermunicipal benefits.
• Cartão Riocard Mais Empresarial A corporate prepaid card that comes pre-charged and registered, protecting credits against loss or theft. Accepted across all transport modes, designed for messengers, field employees, and commercial teams; arrives with Bilhete Único Carioca enabled.
• Cartão Digital Riocard Mais A fully digital version of the Riocard Mais card available within the mobile app, supporting NFC contactless payment (Android only) and QR Code payment (at Metro Rio and Barcas stations). The digital card is associated with the user's CPF and recharged via PIX, credit, or debit within the app.
• Pulseira Riocard Mais A wearable wristband form factor of the Riocard Mais Expresso card, providing the same fare payment functionality across all public transport modes through a hands-free accessory.
• Chaveiro Riocard Mais A keychain form factor of the Riocard Mais Expresso card, providing the same fare payment functionality across all public transport modes through a compact keychain accessory.
• Adesivo Riocard Mais A sticker form factor of the Riocard Mais Expresso card, providing the same fare payment functionality across all public transport modes through a self-adhesive sticker device.
• Riocard Mais Tour A tourist-focused prepaid card for visitors to Rio de Janeiro, providing access to all public transport modes with prepaid credits loaded at purchase.
• Aplicativo Riocard Mais A mobile application for Android and iOS providing complete card management including balance checking, transaction history, recharge (via PIX, credit, or debit), scheduled/automatic recharge, BUI activation, digital card access, loyalty club access, and QR Code generation.
• Tomais (WhatsApp Assistant) An AI-powered WhatsApp virtual assistant (Tomais) providing automated customer service including card recharges via PIX, credit, and debit, bus ticket purchases, card cancellation, order tracking, and FAQ support via interactive menu.
• Clube Riocard Mais A loyalty rewards program powered by the Ecobonuz platform, enabling users to accumulate points with each recharge or card use and redeem them for discounts and prizes from partner establishments.
• Gestão+VT A corporate service package for HR and administrators providing priority customer support, consolidated management reports, simplified card disassociation, first-issue without recharge value, delivery tracking, and access to the Valida Mais Empresa portable validation device.
• Facilita Mais VT A simplified corporate service offering for Vale-Transporte management, including access to the Valida Mais Empresa portable validation device for in-office recharge validation and card unlocking.
• Valida Mais Empresa A portable validation terminal for corporate use, enabling card benefit verification, recharge validation, last-recharge date lookup, and card unlocking — bundled with Gestão+VT and Facilita Mais VT packages.
• Bilhetagem Digital (Enterprise EFC Platform) An end-to-end digital ticketing platform for transport operators and public authorities, covering cloud-based fare management, dynamic pricing, integration clearing, intermodal fare matrices, gratuity management, D+1 reimbursement, fraud detection via biometrics, and real-time reporting.
• Bilhete Único Intermunicipal (BUI) An interstate fare integration benefit granted by the State Government, enabled on Riocard Mais cards (Expresso and Vale-Transporte) linked to a CPF, providing discounted or integrated fares across buses, metro, trains, and ferries in the Greater Rio de Janeiro region. Available for individuals aged 6 to 64 meeting income criteria.
• Bilhete Único Niterói (BUN) A municipal tariff integration benefit for Niterói residents, available on Riocard Mais cards associated with CPF, providing fare integration across transport modes within Niterói.
• Passe Escolar A free or discounted transport card for students enrolled in public schools (state and federal networks), subject to school-day and time-based usage restrictions.
• Passe Sênior A free transport card for seniors aged 65 and older, providing unlimited travel on all transport modes covered by the Bilhete Único Intermunicipal system.
• Passe Especial A free transport card for people with disabilities (PCD), granted under specific legislation, with optional companion (AC) provision in certain cases.
• Vale Social A free transport card for individuals with chronic illnesses or specific medical conditions, granted under Law 4,510/2005, with a defined validity period and optional companion provision.
• Vale Educação A fare benefit card for education-related transport subsidies, enabling discounted or free travel for eligible students and education workers.
• Recarga Mais A web-based recharge platform allowing Riocard Mais users to reload their cards online before validating at a terminal or via the app.

Quantifiable outcome

• R$3.7 million savings from facial biometrics in vans
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Ecobonuz (Clube Riocard Mais)coreGTM or Marketing PartnerPartnership with Ecobonuz platform to operate the Clube Riocard Mais loyalty program. Users accumulate points on each recharge or card use which can be exchanged for discounts and prizes from partner establishments. Companies can also become brand partners with customized promotion through Riocard channels.
• FlashminorOthersPartner company for home delivery of cards ordered through the online store. Handles logistics and shipment tracking.
• HemoriominorGTM or Marketing PartnerBlood donation campaign partnership. Riocard Mais supports Hemorio's blood donation initiative as part of social responsibility programs (Rota Solidária).
• WeBenefícioscoreChannel Partner/ Reseller/ DistributorAuthorized agent (Agente Autorizado) for corporate sales of Riocard Mais vale-transporte and corporate card products. WeBenefícios manages employer relationships and provides benefit administration services.
• Various Authorized Benefit Management CompaniescoreChannel Partner/ Reseller/ DistributorMultiple authorized benefit management companies including empresas autorizadas shown on corporate page (VTA Benefícios, Benefit Certo, WE Connect, BE RH, and others) that sell and administer Riocard Mais products for corporate clients.
• Transport Operators (SMTR/SEEDUC/Concessionárias)coreStrategic or Co-development PartnerPartnerships with municipal and state transport authorities, metro companies, train operators, ferry services, and bus companies for fare collection integration and service delivery across all transport modes.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Conduent Transportation Solutions: U.S.-based transportation technology and business process services provider operating one of the largest fare collection backbones in North America (e.g., NYC MTA, LA Metro). Directly comparable to Riocard Mais as a multi-modal EFC platform serving municipalities and operators.
• Scheidt & Bachmann: German-based manufacturer and supplier of electronic fare collection systems, validators, and back-office clearing for public transport (used by Dutch, German, and U.S. transit agencies). Competes with Riocard Mais on contactless validators, mobile ticketing, and clearinghouse software.
• Masabi: UK/U.S.-based provider of the Justride mobile fare validation and account-based ticketing platform used by major transit agencies (e.g., MTA, TfL). Comparable in the digital wallet, mobile ticketing, and account-based ticketing layers Riocard Mais is building with its app and QR Code system.
• Cubic Transportation Systems: Global provider of integrated fare management systems, mobile ticketing, and open-payment platforms for transit authorities (Transport for London Oyster, Sydney Opal, Chicago Ventra). Direct competitor in next-generation EFC with biometric and account-based capabilities.
• INIT AG: German supplier of integrated planning, dispatching, telematics, and electronic fare collection systems for public transit operators worldwide (e.g., Hanover, Helsinki). Closely aligned with Riocard Mais as a multi-modal fare collection and clearing platform vendor.
• Indra Minsait: Spanish IT services and transit technology provider delivering fare collection, mobility, and payment systems to transport operators across Europe and Latin America. Direct competitor in the B2B/govt EFC space with comparable scale and multi-modal ambition.
• Jaé Mobilidade: The new electronic ticketing operator contracted by the City of Rio de Janeiro starting August 2, 2025, directly displacing Riocard Mais for city-level fare collection. Operates an integrated fare app and stored-value card across Rio's buses, BRT, metro, and other modes.

Others

• Thales: French multinational providing digital identity, contactless card, and transit ticketing solutions (former Gemalto business) to transport operators globally. Functions as an enabling supplier of secure card and identity infrastructure underpinning transit payment systems.
• IDEMIA: French-headquartered identity, payment, and card manufacturer supplying contactless transit cards (including the former OTI business) and biometric verification systems. Comparable as a supplier of the underlying smart card and biometric technology Riocard Mais relies on.
• Stone Co. Brazilian payments technology company providing acquirer, point-of-sale, and digital banking solutions. Adjacent to Riocard Mais in the Brazilian stored-value and transaction-processing ecosystem, with potential overlap in enterprise payment and digital wallet services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/riocardmais
• YouTubeyoutube.com/@RiocardMais
• Facebookfacebook.com/riocardmais
• LinkedInlinkedin.com/company/riocardmais
• Instagraminstagram.com/riocardmais/?hl=pt-br
• TikToktiktok.com/@riocardmais?lang=en

Revenue estimate

Valuation estimate

Number of profiles

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 Riocard Mais