According to the press release, the deal is part of Universo’s strategic plan to digitally transform its services and marks their first partnership with an Open Banking solution. Thanks to the partnership, customers of its Cartão Universo will be able to easily load funds into their accounts to increase their monthly spending limits with a click of a button.
Owned by Sonae, a multinational company managing a diverse portfolio of businesses in retail, financial services, technology, shopping centres and telecommunications, Cartão Universo has over 500,000 digital customers. The Cartão Universo card product brings together all loyalty and payment cards from Sonae’s brands, together with the advantage of a universal Mastercard without any fees.
Cartão Universo also allows the customer, for each purchase, and directly at payment terminals, to choose between a set of repayment options: pay at the end of the month, and instalments across 3, 6 and 12 payments. The partnership with Token streamlines payments for Cartão Universo’s ‘end of the month’ option, which now allows users to transfer money onto their cards to increase their monthly spending limits.
Therefore, users don’t have to use a different app or go to their home bank to affect the transfer; they can move money more securely, completing the process in only two clicks.
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