Amazon will launch a credit card in Brazil with local lender Banco Bradesco, according to the bank’s chief executive.
Banco Bradesco boss Octavio de Lazari Junior has said that the card will launch next Tuesday, with Banco Bradesco to manage the card’s credit risk and the card itself to be powered by Mastercard. Further details on loyalty rewards and credit limits are expected to be revealed at the launch.
This would not be the first time that Amazon has launched a credit card. It offers a credit card in the US in partnership with JPMorgan Chase. Elsewhere, in the UK in June Amazon partnered with embedded finance provider YouLend to launch a flexible financing programme for UK SMBs.
In a note, Amazon Brazil country manager Daniel Mazini said that the company is "looking for opportunities" to exploit in the market that can improve the retail experience of their customer.
Brazil’s central bank last week voted to cut its benchmark interest rate by 50 basis points to 13.25 per cent at a time when the country’s interest rate is starting to head downward. The government is also looking to boost consumption via programmes.
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