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.
Latest News
-
HSBC launches payments management tool for businesses planning international growth
-
NatWest launches advent calendar to highlight festive purchase scam risks
-
Starling Bank poaches Adeel Hyder from TSB
-
HSBC sustainability chief quits amid strategic shifts
-
MPs publish damning report calling FCA 'incompetent' and 'dishonest'
-
BNY introduces new buy-side platform
The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.
Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.
Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.
From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories