Brazilian bank Bradesco launches Bitz and enters e-wallet market

Bradesco debuts in the digital wallet market aiming at unbanked Brazilians

14.Sep.2020 11:05 BRT
UPDATED 11:06 BRT

The digital checking account will allow clients to store and transfer money, make payments and online purchases;
Cielo will provide Bitz with technology services.

Brazil’s second largest private-sector lender, Bradesco announced on Monday the start of operations of Bitz, the new subsidiary of the group, to offer individuals digital payment accounts.

“Through the new company we will start offering the Bitz product, which is a digital wallet that will enable customers to store money, make payments, transfers, receipts, pre-paid mobile recharge, QRCode payments and online purchases in a wide network of acceptance,” said the bank.

Bitz will have independent corporate and financial structures, but it will have the expertise and scale of Bradesco, as well as a strong distribution network. In a separate statement, Cielo said it was chosen as a technology service provider for Bitz.

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