April 22, 2019 / 12:57 PM / a month ago

Brazil's Pagseguro launches instant payment feature for debit and credit card transactions

SAO PAULO, April 22 (Reuters) - Brazilian card processor Pagseguro Digital Ltd said it will offer instant payments for merchants in debit and credit card transactions, according to a securities filing on Monday.

Pagseguro’s move follows Itau Unibanco Holding SA’s card processor unit decision to stop charging interest rates and repaying merchants using its machines in two days, compared with the usual 30-day period.

Reporting by Carolina Mandl

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