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March 27, 20 - 10:12 am - LABS

Brazilian monetary council allows fintechs to issue credit cards

Close up credit cards
Photo: Shutterstock

Brazilian National Monetary Council said that the country’s fintechs will be allowed to issue credit cards. The authority also said the country’s fintechs will be able to obtain funding from state-owned development bank BNDES.

The move is an attempt to increase the flow of resources to individuals and small companies in the midst of the coronavirus crisis, informs Valor Econômico.