Via Varejo's own fintech, BanQi, received investments and is betting on innovation

BanQi received an investment of of BRL 300 million and have Mastercard, Cielo and Zurich as partners on the project

BanQi is betting on QR code payments in Brazil

As one of the companies of the Brazilian retail group Via Varejo in partnership with Airfox, the fintech BanQi received an investment of BRL 300 million made by Mastercard, Cielo, and Zurich. But the investments don’t come alone and it also results in new services for the Brazilian digital bank.

“We united the Via Varejo’s expertise in financial services with Airfox in technology to offer for our clients more convenience, besides of bringing products that will add value and improve even more their experience with BanQi”, said Felipe Negrão, executive director of Via Varejo, in an interview for InfoMoney. 

In August, the clients of BanQi will be able to use a Mastercard’s digital card for online purchases and it will also exist in a physical version that can be requested directly on the app. But the most innovative payment solution cames as a result of the partnership with Cielo. The Brazilian payment organizations are promoting the benefits of innovation in payment methods and the most popular solution presented is the QR code. Cielo and BanQi are betting on it.

The users will be able to pay for their purchases by using a QR code generated in the card reader and scanning it with the bank’s app. The payment of these QR code transactions will be processed by Mastercard.

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