Target Bank

Target Bank is a company that has the purpose of administrating Electronic Payment Methods. Currently, the company is approved and authorized to operate with Electronic Payment Method for Freights by the Brazilian Regulator Body for Transportation - ANTT – Agência Nacional de Transportes Terrestres. TARGET has built a modern, robust and secure payment method System in agreement with Resolução 3.658/11 of ANTT and has established strategic partnerships aiming to provide a wide range of services and products in order to promote the payment method, being an ally of ANTT and working for the social inclusion of the Autonomous Freight Transporter in Brazil. LEGISLATION The ANTT – National Agency of Land Transport issued the resolution 3.658/2011 regulating the payment of the autonomous cargo carriers in Brazil, through a mechanism called “CONTA FRETE” (freight account), from there on being forbidden another payment method not approved by ANTT. This resolution states that the freight payment to autonomous cargo carriers, contracted by ETC - Cargo Carriers Companies (Industry), has to be made by an electronic payment method. THE MARKET Estimations are that the sector has a market of S$ 36 billions of freight annually, but 73% are informal. According to IBGE – Brazilian Institute of Geography and Statistics and DELOITTE consulting, the Brazilian government registers as freight movement, in relation to autonomous cargo carriers, only US$ 8 billions per year. The autonomous cargo carriers may opt for the best conditions offered by the market. Beyond that, with the regulation of the payment, they will be able to prove their income and participate in financing programs to renew the truck fleet in Brazil. Today Target Bank have alliance with BANCO BRADESCO for issue the TRANSPORTS BRADESCO TARGET CARD, for payment of the autonomous cargo carriers in Brazil and business fleet of Cargo Carriers Companies.