What's New in Payments

Itaú Unibanco unveils low cost instant QR payments service in Brazil

Brazil’s Itau Unibanco to launch new payments app using QR code — Reuters — “Merchants using Iti will pay a fee of 1% per transaction and will receive payments instantly… The app also does not require merchants to buy or rent card reader machines… Itaú is also considering offering investments, loans and insurance products through the new app.”


What's New in Payments

Apple Pay goes live in Brazil

Apple Pay arrives in Brazil, partnering with Itaú Unibanco — Reuters — “Apple Inc’s mobile payment platform Apple Pay arrived in Brazil on Wednesday with an exclusive partnership with Itaú Unibanco Holding SA, the country’s largest private lender. The bank said Apple Pay will be available during the 90-day exclusive period to Itaú’s roughly 1.2 million card holders who also own an iPhone 6 or higher. Under the terms of the partnership, Brazilian retailers such as GPA SA will offer discounts on purchases using Apple Pay.”