Banks and fintechs are expanding partnerships with companies that offer automatic toll payment to attract customers and keep them loyal. Agreements in this format have expanded the offer of tags for which the customer does not pay for monthly usage.
In partnerships in this format, the financial institution is responsible for covering the cost.
For the tag sector, the model represents the possibility of expanding the number of users, currently around 8 million in a universe of more than 60 million cars.
Aware of this change in the market, startup GreenPass developed a business model in which, instead of distributing tags directly to consumers, it does so only through partners, mainly from the financial sector.
João Cumerlato, partner at the startup, says that there are a large number of digital banks and fintechs that want to include toll payment in their offers for customers.
According to him, the creation of an automated payment service and its approval can take up to two years, which justifies a company like his to specialize in providing the service for third parties, says the businessman. These companies start to take care of product disclosure, customer relationship and define prices to be charged or if they will give the service for free.
The company has partnerships with companies such as Banco Inter, Sicredi and Edenred. Cumerlato says that the insurance market and automakers are also of interest to the startup.
ConectCar, a company whose partners are Banco Itaú and Porto Seguro, also offers the creation of tags with partner brands, in the model known as white label.
In September, the company announced the launch of Tag Itaú, which will not have a monthly fee for bank customers.
Currently, of the 1.1 million ConectCar customers, 250,000 use Itaú’s credit card for payments. During the presentation of the service to journalists, Alexandre Zancani, director and member of the Executive Committee of Itaú Unibanco, said that there has been a change in the bank’s relationship with the tag. Instead of using its structure as a sales channel for them, Itaú now offers the tool as a benefit to its customers.
Another tag that hit the market this month was Ultrapasse, a tag from Mercado Pago (Fintech from Mercado Livre), also in partnership with ConectCar and offered with discounts or free to consumers, depending on the level at which they are in the loyalty program of company, which also gives discounts on streaming and product shipping. For consumers outside the program, the monthly fee is R$ 12.90.
Rodrigo Furiato, digital wallet leader at Mercado Pago in Brazil, says he believes there are a large number of consumers who do not agree to pay the tags’ monthly fee, but who value having it in a package of benefits. Therefore, offering them in the program increases customer retention.
André Turquetto, general director of Veloe, a joint venture between Bradesco and Banco do Brasil, says he believes that partnerships in the sector, despite not being the only business format, should remain on the rise.
“More companies wanting to connect with tags to offer them as a benefit is a good thing, it shows that the service has value”, he says.
Veloe has a promotion in progress so that BB and Bradesco customers have two years without monthly fees. It has an agreement with C6 for the bank to have its own tag brand to offer customers without monthly fees. It also has programs for supporter-partners of football clubs, and with Ford Go, a car subscription service, to dispense customers from 12 monthly payments.
Carlos Gazaffi, president of Sem Parar, market leader with around 6 million active customers, says he believes partnerships are a natural path for the market. The company provides exemption from monthly fees for six months for Santander and Original customers.
According to the executive, the company is also seeking to expand the variety of plans to meet different customer profiles, with lower monthly fees if use is less frequent.
To reach the goal of acquiring 20 million customers in up to four years, in addition to partnerships with Santander and Original banks, the company has agreements with automakers such as Volkswagen, Hyundai and Nissan. “Our forecast is that 50% of new vehicles will come out with the tags attached to the windshield by the end of the year”
Another objective of the company is to expand the acceptance network for new features, such as payment for drive-thru and fuel, and create more tools for users, such as the possibility of automatically opening gates in condominiums.
In May, Fleetcor, the parent company of Sem Parar, announced a partnership with Caixa and VR Benefits to create a new prepaid benefits and payments company for bank customers, which should also include a toll tag.
This search for more customers for the tags takes place in a market that should gain strength with the sanction in June of the law that creates free flow in Brazil.
According to Marco Aurélio Barcelos, president of ABCR (Brazilian Association of Highway Concessionaires), the sector sees the universalization of tags as the preferred way to make this charging format viable.
See companies that give discounts on tags
Bank customers have access to free tags in a program managed by Veloe
In September, he announced the creation of Tag Itaú, which will be expanded throughout the year and can be used free of charge by bank customers
Banco do Brasil and Bradesco
They offer 24 months of free use of Veloe’s service for customers with a credit card from one of the institutions
It created the Ultrapasse tag, which has a monthly fee of R$ 12.90 and the loyalty program Mercado Points is reduced according to the customer’s score.
Customers of the company’s credit card have 36 months of free tag on ConectCar. After the period, R$7.90 is charged in the months in which the tag is used
It grants six months of monthly exemption from SemParar to customers who register their bank card
Customers who register a credit or debit card get a six-month exemption from Sem Parar’s Everywhere Plan