Brazil's Via gets cenbank's nod to launch its financial services platform

Via's fintech BNQI will start offering the so-called CaaS (credit as a service)

Via Varejo
Photo: Courtesy/Via Varejo
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Brazil‘s retailer Via (formerly Via Varejo), owner of Casas Bahia and Ponto Frio, announced on Friday that it has received final approval from the Central Bank to license BNQI as a Direct Credit Company (SCD, in Portuguese), which should expand the services offered on its financial solutions platform.

Via’s financial solutions platform is composed of the banQi digital account and the so-called crediário, a popular type of installment plan in Brazil, now also available in digital version, the operation of Casas Bahia and Ponto credit cards, a personal loan line for banQi customers, and the recently incorporated Rede Celer acquirer operation.

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According to Via, in the last two years, more than 15 million customers have used its financial solutions: 11 million for crediário, more than 2 million banQi customers and 2.5 million have co-branded cards.

“The BNQI SCD license will result in greater financial inclusion and access to credit for thousands of Brazilians, representing a real paradigm break in retail. In addition to traditional crediário, BNQI SCD will be able to conduct lending and financing operations to customers and partners through an electronic platform,” Via said in a statement to shareholders.

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“Additionally, BNQI SCD will be an important lever for building loyalty among Via’s marketplace partners by expanding the offer of services, including on-lending of amounts in the borrowers’ payment account, domicile account for transacted card receivables, financing for working capital, collection services in general and issuance of various collection slips.”

The idea is to BNQI offer credit as a service (CaaS) solutions.

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