Brazil retailer Via Varejo launches digital bank targeting low-income clients
SAO PAULO (Reuters) – Brazilian electronics and appliance retailer Via Varejo launched a digital bank targeting low-income clients in partnership with Boston-based startup Airfox, according to a filing on Wednesday.
The move will take Via Varejo beyond its current role in Brazil as a brick-and-mortar and online seller of goods, challenging its competitors in Latin America’s largest economy, where App-based wallets are an increasing trend among fintechs and traditional banks.
By Gabriela Mello via WSAU