The partnership aims to expand Amazon’s fintech offerings in the country.
The credit card’s launch is scheduled for next Tuesday.
Banco Bradesco SA will manage the card’s credit risk.
Amazon.com is set to introduce a credit card in Brazil through a collaboration with Banco Bradesco SA, as part of its efforts to expand its fintech services.
The launch is scheduled for next Tuesday, and Banco Bradesco SA will be responsible for managing the card’s credit risk. The card will be powered by Mastercard. Further information about loyalty rewards and credit limits will be disclosed next week.
Daniel Mazini, Amazon’s Brazil Country Manager, expressed the company’s commitment to enhancing the shopping experience for customers in Brazil.
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This move comes at a time when the country is witnessing a decline in interest rates and implementing government programs to stimulate consumption. Brazil’s central bank recently cut its benchmark interest rate by 50 basis points to 13.25%.
Besides Brazil, Amazon already offers credit card services in the United States, partnering with JPMorgan Chase. Credit lines have become popular avenues for growth, attracting non-financial services companies.