Fidelity National Financial ( FNF) joined a third-party card services provider venture in Brazil with two other banks.

Fidelity National said it will join Banco Abn Amro Real and Banco Bradesco in providing comprehensive, fully outsourced credit and prepaid card processing services to Brazilian card issuers.

This partnership also includes processing and services for Visa Vale, a leading provider of prepaid meal vouchers to the Brazilian market. This joint venture will position Fidelity as the leading third-party card processor in Brazil.

The joint venture is expected to generate revenue of $2 billion over the next 12 years. Once the card portfolios are fully converted, profit margins are expected to be consistent with overall company margins.

Fidelity National, based in Jacksonville, Fla., also launched its Fidelity National Real Estate Solutions unit's RatePlug offering.

The add-on tool dynamic, real-time mortgage product, rate and payment information directly into the broker and agent Web sites and MLS platforms.
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