Edenred : Launch of Ticket Cultura in Brazil
PR Newswire/Les Echos/
Press Release January 9, 2013
Launch of Ticket Cultura in Brazil
A new employee benefit solution for the purchase of cultural goods and services
The leader in the Brazilian service voucher market, Edenred is launching Ticket Cultura, the first card that enables company employees to purchase cultural goods and services. Taking advantage of recent favorable legislative changes, Ticket Cultura creates new growth opportunities for Edenred.
A DEDICATED PRELOADED CARD FOR CULTURAL EXPENSES
Based on the Ticket Restaurant(r) and Ticket Alimentación model and developed in card format, Ticket Cultura broadens employees' access to culture. The solution takes advantage of a favorable legislative development that exempts companies from payroll and other taxes. The Ticket Cultura face value will reach 50 Brazilian reals per employee per month.
The card provides beneficiaries with a convenient, innovative solution that can be used in a network of affiliates to purchase books, theater and concert tickets, movie tickets, and other cultural products and services.
A GROWTH OPPORTUNITY FOR EDENRED
Supported by a favorable economic environment and the new legislation, the Ticket Cultura card represents a unique solution for a potential market of 37 million employee beneficiaries. Sales will begin when the detailed regulations have been defined(1).
(1) Under the Brazilian legislative system, this should be completed between March and June of this year
"Ticket Cultura will give Brazilian employees additional purchasing power," says Oswaldo Melantonio Filho, Chief Operating Officer, Edenred Brazil. "For companies, it's a way of making life easier and more pleasant for employees by improving the work environment while contributing to their wellbeing. Once again, our growth is being driven by our capacity for innovation and service quality."
The launch is in line with Edenred's strategic commitment to creating new solutions and services in all its business segments, with the goal of introducing 26 new solutions between July 2011 and December 2012, and to focusing its development on digital products, with the objective of generating 50% of issue volume through paperless solutions by end-2012.
Edenred, which invented the Ticket Restaurant(r) meal voucher and is the world leader in prepaid corporate services, designs and delivers solutions that make employees' lives easier and improve the efficiency of organizations. Edenred solutions ensure that funds allocated by companies are used as intended. These solutions help to manage: * Employee benefits (Ticket Restaurant(r), Ticket Alimentación, Ticket CESU, Childcare Vouchers, etc.) * Expense management process (Ticket Car, Ticket Cleanway, Ticket Frete, etc.) * Incentive and rewards programs (Ticket Compliments, Ticket Kadéos, etc.) The Group also supports public institutions in managing their social programs. Listed on the NYSE Euronext Paris stock exchange, Edenred operates in 39 countries, with nearly 6,000 employees, close to 580,000 companies and public sector clients, 1.3 million affiliated merchants and 36.2 million beneficiaries. In 2011, total issue volume amounted to EUR15.2 billion, of which 58% was generated in emerging markets.
Edenred Brazil, with its 1,000 employees, develops solutions for 57,000 companies and public sector clients, 5 million beneficiaries and 320,000 affiliated merchants.
Ticket Restaurant(r) and all other tradenames of Edenred programs and services are registered trademarks of Edenred SA.
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