Amazon.com will launch a credit card offering in Brazil, in a partnership with Brazilian lender Banco Bradesco SA , the bank's chief executive said on Friday, as the ecommerce giant pushes to expand its fintech offering.
, the bank's chief executive said on Friday, as the ecommerce giant pushes to expand its fintech offering.
The launch is set for next Tuesday, according to CEO Octavio de Lazari Junior, adding that the bank will manage the card's credit risk, and the card will be powered by MastercardAmazon's Brazil Country Manager, Daniel Mazini, said in a note that the company is always "looking for opportunities" to improve the shopping experience of customers in Brazil.
The credit card offers comes at a time the country sees its interest rate starting a downward cycle and government programs to boost consumption. Brazil's central bankAmazon also has a credit card offering in the U.S., where it partners with JPMorgan Chase. Credit lines can serve as a potential growth avenues and are proving increasingly popular with non-financial services companies.
Reporting by Alberto Alerigi Jr., Additional reporting by Isabel Woodford, Writing by Carolina Pulice, Editing by Sandra Maler
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon nations to set up rainforest science panel, Brazilian minister saysAmazon countries meeting next week for a summit on cooperation to save the rainforest aim to set up a scientific body like the U.N.'s Intergovernmental Panel on Climate Change (IPCC) to share research, Brazil's environment minister told Reuters.
Read more »
Deforestation in Brazil's Amazon fell 66% in JulyDeforestation in Brazil's Amazon fell in July to its lowest level for the month since 2017, preliminary government figures showed on Thursday, boosting President Luiz Inacio Lula da Silva's stature on environmental policy ahead of a summit of rainforest nations.
Read more »
Amazon deforestation at six-year-low in Brazil after plunging 66% in July | CNNDeforestation in the Brazilian Amazon fell by 66% last month compared to July 2022 and is now at its lowest rate in six years, according to preliminary data released by Brazil’s National Institute for Space Research (INPE) on Thursday.
Read more »
Crop Traders Reap a Bonanza From Brazilian Soy HarvestArcher-Daniels-Midland and Bunge posted second-quarter earnings that blew past the most bullish estimates.
Read more »
Marta Says Goodbye to Women's World Cup After Brazil EliminationBrazil's surprise group stage exit from the Women's World Cup officially marked the end of Marta's storied career at the tournament.
Read more »