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Digital lender Nubank to launch debit card

By BNamericas Tuesday, December 11, 2018

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Brazilian digital lender Nubank will launch a debit card to make its product range more complete.

The move comes only weeks after it received authorization from the country's central bank to operate as a full-service financial institution, local daily O Estado de S. Paulo reported.

The debit card modality had been lacking in the range of services offered by Nubank, which started operations offering a credit card and later added a checking account to its roaster of products.

Like the Nubank credit card, the debit card will be MasterCard-branded, according to the report.

In October, Chinese firm Tencent purchased a 5% stake in Nubank for US$180mn.

Created in 2013, Nubank is one of the most famous companies in Brazil's fast-growing fintech sector. The bank has approximately 2.5mn digital accounts and around 5mn credit card holders.

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