8/29/2018, 6:45 PM (Source: TeleTrader)
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PayPal achieves tieup with Brazil's lender Itau

Itau Unibanco Holding SA agreed to let PayPal Holdings Inc. work with its clients, an announcement revealed on Wednesday. Brazil's biggest lender will help boost the number of users of the payment services in the country by one million in two years from 3.8 million accounts registered now, said Paula Paschoal, country manager of the company based in San Jose, California.

The partnership is scheduled to come into force before the end of the year, according to the update, and PayPal expressed confidence in achieving significant results in the near term. Its data show 350,000 merchants in its network in South America's largest economy. Itau said the tieup is complementary to its product offering and that it provides "more convenience." The terms in the contract do not make it exclusive. The deal includes the bank's Rede SA unit.

Baha Breaking News (BBN) / IT