Brazilian XP signs partnership with Visa to issue cards this year

The partnership was announced during XP's latest earnings conference with investors

Photo: Google Street View

During an earnings conference on fourth quarter results, Bruno Constantino, Chief Financial Officer of XP Inc., announced a partnership with Visa to issue XP’s credit and debt cards, which the company plans to launch this year. With this deal, XP officially enters the digital payments market in Brazil.

READ ALSO: Digital banking users are expected to rise 54%, to 3.6 billion, by 2024

“We found in Visa the best partner in the card segment, as they bring a plan of superior services with scale and a global acceptance footprint to all our customers”, he said.

According to InfoMoney, one of XP’s main short-term targets is to launch a complete package of financial services, including digital accounts, credit and debit cards and secured loans – products that the company expects to put on the market in 2020. For the next year, the company plans to launch insurance services.

READ ALSO: With over 460 programs in 2019, corporate venturing in Latin America is on the rise

Constantino added that XP is confident that the combination of its investment and financial digital services with the new cards to be launched by Visa will further enhance the experience of their clients.

Get the best insights about Latin America market in your inbox