What Hipercard does

Hipercard is a Brazilian multiple bank (Hipercard Banco Múltiplo S.A.) and credit card brand operating as a subsidiary of Itaú Unibanco. Founded in 1969 as a loyalty card for Grupo Bompreço in Recife, Hipercard has evolved over five decades into a national credit card issuer with acceptance at over 1 million establishments across Brazil. The company operates four core card products: Hipercard Nacional Clássico (no annual fee), Hipercard Nacional (standard), Hipercard Mastercard Internacional, and Hipercard Mastercard Platinum, supported by a suite of value-added services including virtual card generation, cash withdrawal (Saque Cash), personal credit lines, bill payment (Pague Contas), SMS alerts, digital invoicing, bill installment, and insurance products. The Hipercard app serves as the central digital platform for card management, with additional service channels including WhatsApp, call center, and cross-selling through Itaú's banking network.

The company's technology infrastructure is mobile-first, featuring a dedicated app for card management, virtual card generation for secure online purchases, real-time transaction monitoring, and automatic card number updates at 14,000+ partner merchants. Distribution combines digital self-service channels with the physical retail presence of Grupo BIG (formerly Walmart Brazil) and Itaú's banking network. Hipercard generates revenue through interchange fees on credit card transactions, revolving interest on outstanding balances, annual fees (with fee-free options on certain tiers), IOF and interest charges on personal credit and Pague Contas services, and ancillary insurance products. The company is positioned as a mass-market consumer credit card with strong regional roots in Northeast Brazil and expanding national presence through its retail and banking partnerships.

Hipercard holds a deep distribution moat through its 1M+ merchant acceptance network and integration with Itaú Unibanco, Brazil's largest private bank. The brand has been embedded in Brazilian retail payment culture for over 50 years, with strong recognition in the Northeast and growing presence nationally. The company maintains strategic partnerships with Grupo BIG (core retail), Mastercard (international acceptance), Banco24Horas (ATM access), and over 30 brand partners for exclusive cardholder discounts across retail, pharmacy, travel, automotive, and entertainment categories. It employs 501-1,000 people and is headquartered in São Paulo.

Name

Hipercard

Legal name

Hipercard Banco Múltiplo S.A.

Website

https://hipercard.com.br

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Hipercard is a Brazilian credit card brand and multiple bank (Banco Múltiplo S.A.) owned by Itaú Unibanco, issuing credit cards accepted at over 1 million establishments across Brazil. It serves Brazilian consumers with a multi-tier card portfolio and value-added financial services.

Ownership category

akta.pro rank

Product category

Consumer Credit Cards

NAICS

Credit Card Issuing (522210), Consumer Lending (522291)

SIC

National Commercial Banks (6021), Personal Credit Institutions (6141)

akta.pro primary industry

Private Label / Store Credit Cards (FSAKABAC)

akta.pro secondary industries

Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Co-Branded Card & Card-Linked Offers Enablement (Issuer/Network Integrations) (THALAKAI), Travel Money Cards & Multi-Currency Prepaid (FSAMANAI)

Keywords

• Consumer credit cards
• Retail payment services
• Credit card issuing
• Digital banking services
• Cardholder benefits program

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Credit Card Transaction Fees: Interchange fees collected from merchants on every transaction made with Hipercard credit cards.
2. Credit Revolving Interest: Interest charged on outstanding balances not paid in full, including cash advances and installment plans.
3. Annuity Fees: Annual fees charged on credit cards, with some cards offering fee-free options.
4. Pague Contas Service Fees: IOF and interest charges on bill payments converted to credit card installments.
5. Personal Credit Fees: Interest and IOF charges on personal credit extended through the credit card.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Hipercard is a Brazilian credit card issuer and payment network offering a multi-tier credit card portfolio (Nacional Clássico, Nacional, Mastercard Internacional, Mastercard Platinum) to individual consumers, complemented by value-added services such as virtual cards, cash withdrawal, personal credit lines, bill payment, digital invoicing, and insurance products. The company operates as a subsidiary of Itaú Unibanco and leverages the Hiper/Hipercard payment arrangement alongside Mastercard rails for acceptance at over 1 million establishments across Brazil and internationally.

Product overview

Hipercard is a Brazilian credit card brand and payment network owned by Itaú Unibanco, operating a multi-product portfolio centered around its core credit card offerings. The portfolio includes four main card products: Hipercard Nacional Clássico (no-fee national card), Hipercard Nacional (standard national card), Hipercard Mastercard Internacional (international card with Mastercard benefits), and Hipercard Mastercard Platinum (premium tier). These core cards are supported by a suite of value-added services including virtual card generation, SMS transaction alerts, cash withdrawal (Saque Cash), personal credit lines, bill payment services, emergency credit evaluation, bill installment options, digital invoicing, additional card sharing, and insurance products (Protected Card Insurance and Paid Bill Guarantee Insurance). The Hipercard App serves as the central digital platform for managing all products and services. The brand has evolved since 1969 from a store loyalty card to a national credit card with over 1 million merchant acceptance points, primarily serving the Brazilian retail market with strong presence in the Northeast region and Grupo BIG retail network.

Differentiator

Problem solved

Functional benefit

Brands

• Hipercard Nacional Clássico: Credit card with no annual fee, national coverage at over 1 million establishments, and exclusive app.
• Hipercard Nacional
• Hipercard Mastercard Internacional
• Hipercard Mastercard Platinum
• Hipercard App

Products and services

• Hipercard Nacional Clássico (Hipercard Nacional Classic) A no-annual-fee national credit card with acceptance at over 1 million merchants, featuring exclusive discounts at partner retailers and a dedicated mobile app. Designed for Brazilian consumers seeking everyday credit without recurring fees.
• Hipercard Nacional A credit card with the Hipercard brand and high acceptance in Brazil, offering convenience and brand tradition for everyday purchases. Targets Brazilian consumers who value the Hipercard brand heritage.
• Hipercard Mastercard Internacional An international credit card with Mastercard brand acceptance in Brazil and worldwide, featuring the Mastercard Surpreenda program (Buy 1, Get 2 promotions). Includes international travel and purchase benefits.
• Hipercard Mastercard Platinum A premium credit card with Platinum benefits, international acceptance, and exclusive partner discounts. For Brazilian consumers seeking premium credit card services with international reach.
• Cartão Virtual (Virtual Card) A free temporary card number generated through the Hipercard app for secure online purchases, with each number valid for a single transaction or up to 48 hours. Protects users from exposing physical card details.
• Saque Cash (Cash Withdrawal) Credit card cash withdrawal service allowing users to get cash at Banco24Horas ATMs and Itaú ATMs (for Mastercard holders) with up to 40 days to pay.
• Crédito Pessoal (Personal Credit) An additional credit line on the Hipercard that provides cash to the user's bank account within 48 hours, without using the card's rotating credit limit, payable in up to 36 installments. Minimum credit available from R$80.
• Pague Contas (Bill Payment) Service allowing users to pay bills (condominium, financing, subscriptions) using their credit card, with up to 40 days additional payment time and installment options up to 12x.
• Avaliação Emergencial de Crédito (Emergency Credit Evaluation) Free service enabling purchases above the card's credit limit, subject to individual credit analysis for each transaction.
• Seguro Cartão Protegido (Protected Card Insurance) Insurance protecting against theft of bag contents, coercion during transactions, robbery after cash withdrawal, and purchase protection for goods acquired with the card.
• Seguro Conta Paga Garantida (Paid Bill Guarantee Insurance) Insurance covering the credit card bill in case of death, permanent disability, involuntary job loss, or temporary incapacity.
• Parcelamento de Fatura (Bill Installment) Service allowing users to pay their credit card bill in fixed installments (4x to 24x), keeping the card active while the limit is released as payments are made.
• Cartão Adicional (Additional Card) Additional credit card sharing the main cardholder's benefits with a customized limit and unified billing, available at up to 50% of the annual fee.
• App Hipercard Mobile application providing real-time purchase tracking, bill consultation, barcode generation for payment, virtual card generation, fatura digital enrollment, and 24/7 chat support. Central digital platform for all Hipercard products and services.

Quantifiable outcome

• Over 1 million establishments accept Hipercard
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

40 partnerships are on record, tiered core and minor.

• Grupo BIGcoreStrategic or Co-development PartnerGrupo BIG (formerly Walmart Brazil) is a key retail partner where Hipercard originated as a store card. The partnership spans BIG, Big Bompreço, Sam's Club, Maxxi Atacado, Super Bompreço, Nacional, and Todo Dia banners. Hipercard is accepted at all 1 million+ establishments and offers exclusive discounts and promotions for cardholders.
• MastercardcoreTechnology or IntegrationHipercard issues Mastercard-branded cards (Platinum, International Zero) enabling international acceptance and access to Mastercard Surpreenda benefits (Buy 1 Get 2 offers). Cards can be used at ATMs in 190+ countries.
• Banco24HorascoreTechnology or IntegrationPartnership enabling cash withdrawals at Banco24Horas ATMs for all Hipercard holders, regardless of card type.
• ItaúcoreStrategic or Co-development PartnerItaú is the parent company controlling Hipercard and provides cross-selling opportunities through its banking network, shared technology infrastructure, and brand association. Hipercard cards can be managed through Itaú Bankline and ATMs.
• NaturaminorGTM or Marketing Partner30% off on purchases above R$64 and 35% on purchases above R$94 with coupon HIPERCARD9. Valid for selected products.
• DecolarminorGTM or Marketing PartnerUp to 30% off on hotels and resorts at exclusive Hipercard booking portal.
• LocalizaminorGTM or Marketing Partner12% discount on daily rates through exclusive Hipercard booking page.
• Droga RaiaminorGTM or Marketing PartnerUp to 35% discount on medications. First registration must be made at a physical store.
• Pague MenosminorGTM or Marketing Partner10% to 36% discount at pharmacy. Requires presenting Hipercard at checkout.
• RennerminorGTM or Marketing Partner15% discount through exclusive Hipercard shopping portal.
• CineartminorGTM or Marketing Partner50% discount on movie tickets for all Hipercard holders.
• EvinominorGTM or Marketing Partner10% discount on all wines at evino.com.br with coupon HIPERCARD10OFF.
• Hertz InternationalminorGTM or Marketing Partner15% discount and installment payments up to 5x interest-free on car rentals with Hipercard Mastercard.
• SephoraminorGTM or Marketing Partner5% discount on purchases above R$199 with coupon SEPHORAHIPERCARD.
• MoblyminorGTM or Marketing Partner8% discount through exclusive portal using coupon HIPERCARD8.
• ConectCarminorGTM or Marketing Partner12 free monthly installments on Complete Plan for toll and parking at 390+ service points.
• ZenklubminorGTM or Marketing Partner20% discount on any consultation.
• AACDminorGTM or Marketing PartnerCharitable partnership allowing cardholders to donate to AACD with monthly contributions of R$1, R$2, R$5, R$10, or R$20.
• Digital HouseminorGTM or Marketing Partner40% off on courses and executive programs with installment payments up to 12x interest-free.
• CentaurominorGTM or Marketing PartnerUp to 15% discount on sports brands through exclusive partner portal.
• PanvelminorGTM or Marketing PartnerUp to 30% discount on medications through exclusive Hipercard portal.
• RiachuelominorGTM or Marketing PartnerUp to 12% off at exclusive partner site.
• Loccitane Au BrésilminorGTM or Marketing PartnerUp to 10% off at exclusive partner site.
• DasaminorGTM or Marketing PartnerUp to 20% off on exams plus 15% off on flu vaccine at Dasa health laboratories.
• NespressominorGTM or Marketing Partner20% discount on machines using coupon HIPER0320.
• CobasiminorGTM or Marketing Partner10% off sitewide with coupon HIPERCARD. Valid until 31/12/2021.
• PetzminorGTM or Marketing Partner10% discount on orders above R$120 using coupon HIPERCARD.
• FarmadeliveryminorGTM or Marketing PartnerUp to 12% discount paying with Hipercard at exclusive portal.
• ShopclubminorGTM or Marketing PartnerUp to 30% discount at exclusive portal using coupon HIPERCARD.
• UnidasminorGTM or Marketing Partner15% discount on daily rates through exclusive partner portal.
• Rentcars.comminorGTM or Marketing Partner10% discount with code HIPERCARD10 on online reservations worldwide.
• OldflixminorGTM or Marketing Partner15% discount on Oldflix subscription.
• Giuliana FloresminorGTM or Marketing Partner15% discount on selected products at exclusive portal.
• VinuminorGTM or Marketing Partner20% discount on monthly subscription and online purchases with coupon HIPERCARDVINU.
• Hotéis.comminorGTM or Marketing Partner8% discount at exclusive partner portal.
• DrogasilminorGTM or Marketing PartnerUp to 35% discount on medications online. First registration must be at physical store.
• ComSchoolminorGTM or Marketing Partner30% discount using coupon HIPERCARD-30 at payment.
• MovidaminorGTM or Marketing Partner10% discount on daily rates plus free third-party protection (ALI) through exclusive portal.
• CarnegieminorGTM or Marketing Partner30% discount on English fluency courses with coupon Hipercard30.
• Protect BagminorGTM or Marketing Partner2 bags sealed (M or G) at luggage wrapping locations. Use code Hipercard20 and pay with Hipercard.

Scale indicators3 records

Recent moves12 records

Expansion highlights5 records

Emerging players

• Nubank: Brazil's largest digital bank and credit card issuer serving Brazilian consumers with similar revolving credit, no-fee cards, and digital-first experience. Direct competitor for the same consumer credit card wallet as Hipercard, but with a stronger digital-native brand.
• PicPay: Brazilian fintech offering digital wallet, PicPay Card (credit), and bill payment services integrated with the PicPay app. Notably integrates with Hipercard for bill payment, while also competing for the same consumer card and digital payments wallet.
• Banco Inter: Brazilian digital bank offering credit cards, personal credit, and a multi-product app similar to Hipercard's mobile platform. Targets Brazilian consumers with digital-first experience and rewards/discount mechanics comparable to Hipercard's partner program.
• C6 Bank: Digital-first Brazilian bank offering multiple credit card tiers (including a no-annual-fee C6 Carbon card), cashback rewards, and personal credit. Competes head-on with Hipercard's digital card proposition and partner discount model.

Broad incumbents

• Banco Bradesco: One of Brazil's largest incumbent banks offering credit cards (Bradesco Visa, Mastercard, Elo), personal credit, and bill payment services. Competes with Hipercard across the same consumer base but as part of a much broader retail banking portfolio.
• Santander Brasil: Major Brazilian bank offering Santander-branded credit cards, personal credit, and bill payment services with similar consumer value propositions to Hipercard. Operates at much larger scale as part of the global Santander group.
• Banco do Brasil: Largest Brazilian state-owned bank offering credit cards, personal credit, and bill payment. Competes for the same consumer base as Hipercard with broader portfolio including government-linked benefits and nationwide branch network.
• Caixa Econômica Federal: Brazilian federal bank offering credit cards (Caixa Visa/Mastercard/Elo), personal credit, and bill payment. Targets mass-market Brazilian consumers with comparable revolving credit and installment card products to Hipercard.

Direct peers

• Banco Pan: Brazilian bank specializing in consumer credit, credit cards, and personal loans — closely aligned with Hipercard's core revolving credit and personal credit business model. Targets similar middle-market Brazilian consumers with card and credit products.
• Banco Original: Brazilian digital bank offering consumer credit cards, personal credit, and a digital banking platform. Closely comparable to Hipercard in terms of target customer (Brazilian consumers), product set (cards + credit), and digital-first distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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 Hipercard