Telefonica plotted the introduction of a personal credit service for its customers in Brazil, advancing ambitions to turn its Vivo brand into a digital services hub, expanding beyond connectivity and telecommunications offerings.
In a statement, the company said Vivo Money, will be available from 19 October, offering customers loans of up to BRL30,000 ($5,345), “with very competitive interest rates and variable repayment terms” over a period of up to two years.
Telefonica said the lending process will be fully digital, without involving hefty bureaucratic procedures.
The Vivo Money move follows a pilot conducted between August 2019 and April 2020.
Movistar Money, a similar service Telefonica launched in Spain in March 2019, has handled €84 million ($98.4 million) in customer loans to date.
Vivo is the leading operator in Brazil, with a total of 64.2 million mobile connections by Q3, data from GSMA Intelligence showed.
Earlier this year, Telecom Italia also outlined plans for a financial services move [1] in Brazil in partnership with C6 Bank, with a launch by the year-end targeted.
[1] https://www.mobileworldlive.com/money/news-money/telecom-italia-exploring-brazil-financial-service-move
![\"IT電腦補習](\"http://itteacheritfreelance.hk/test/wordpress/wp-content/uploads/2016/05/logo2-2.png\"){kind=logo}
www.itsec.hk
www.itsec.vip
www.itseceu.uk
Leave a Reply