June 5, 2019 / 8:51 PM / a year ago

Brazilian retailer Via Varejo launches digital bank targeting low-income clients

SAO PAULO, June 5 (Reuters) - Brazilian electronics and appliance retailer Via Varejo launched a digital bank targeting low-income clients in partnership with Boston-based startup Airfox, according to a filing on Wednesday.

Unlike other App-based platforms, the so-called BanQi will also have physical presence by using the almost 800 Casas Bahia stores as branches for cash withdrawals, deposits, pre-paid cell phone recharge, bill payments and other transactions - all free of charge. (Reporting by Gabriela Mello; editing by Diane Craft)

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