August 26, 2019 / 4:35 PM / a year ago

Brazil's Cielo says it will launch digital banking services

SAO PAULO, Aug 26 (Reuters) - Brazil payment processor Cielo SA said on Monday that it will launch digital banking services in October, joining a growing group of companies challenging the country’s long-established bric and mortar banks.

Cielo said it would target small businesses, but that it would also make its digital banking services available for personal accounts. In launching such an online bank, Cielo would compete with companies including startups Nubank and Banco Inter SA (Reporting by Aluísio Alves; Editing by Christian Plumb)

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