In 2008 the Brazilian public banks Itaú and Unibanco merged, and now, the conglomerate’s clients will have access to the services provided by PayPal, that will offer an online digital account to Itaú card holders, as well as businesses that use its card processing unit.
Paula Paschoal, the general director of PayPal Brazil suggests that the company’s goal is to add one million users to its existing client base in Latin America’s only Portuguese speaking country, which currently stands at 3.8 million.
As the traditional Brazilian banks are looking to expand their technology, either through partnerships with other companies or by themselves, the partnership between the two companies is meant to go towards digitalising the global payments industry.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now