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Brazil's Itau will not charge some firms interest on cash advances - filing


Reuters


SAO PAULO, April 17 (Reuters) - Brazil's Itaú Unibanco Holding SA said in a statement on Wednesday that it will advance cash for small- and medium-sized merchants without charging interest rates.

Rede, Itaú's card processor, will pay merchants in two days, compared with the usual 30 days, in a move that is likely to increase competition in the sector.

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SAO PAULO, April 17 (Reuters) - Brazil's Itaú Unibanco Holding SA said in a statement on Wednesday that it will advance cash for small- and medium-sized merchants without charging interest rates.

Rede, Itaú's card processor, will pay merchants in two days, compared with the usual 30 days, in a move that is likely to increase competition in the sector.






This article appears in: World Markets , Economy , 401k , Banking and Loans , Technology , Retirement



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