Brazilian Sugar-Cane Mogul Is Creating the Alipay of Brazil
The Brazilian tycoon behind the world’s biggest sugar-cane operation is taking a page from billionaire Jack Ma’s playbook for his next project.
Cosan SA, the powerhouse controlled by 68-year-old Rubens Ometto, is launching a version of Alipay to process payments and money transfers through smartphones. It’s a bet that could save the conglomerate millions in fees and give it a foothold in Brazil’s booming fintech scene.
By Gerson Freitas Jr. and Felipe Marques via Bloomberg