Amazon has teamed up with lender Banco Bradesco to launch a credit card offering in Brazil in an effort to expand its fintech offering. In the agreement, the bank will manage the card's credit risk and it will be powered by Mastercard.

More details, such as the card's loyalty rewards and credit limits, are set to be announced after launch. This development is par of Amazon’s attempt to improve the shopping experience of customers in Brazil. Brazil's central bank cuts interest rates to increase consumer spending The credit card offer comes at a time when the country sees its interest rate starting a downward cycle and government programmes look to boost consumption.

Brazil's central bank voted on to cut its benchmark interest rate by 50 basis points to 13.25%, as per Reuters. Amazon also has a credit card offering in the US, where it partners with JPMorgan Chase. Credit lines can serve as a potential growth avenues and are proving increasingly popular with non-financial services companies.

Previous news form Amazon In June 2023, Amazon has partnered with UK-based embedded finance provider YouLend to launch a flexible financing programme for UK SMBs. Amazon has launched a new financing program in the UK that allows merchants to expand their operations, buy new equipment, and step up marketing activities. This programme is based on a revenue-based basis.

The programme's distinctive feature is that sellers pay a set cost, and repayments are based on a portion of their future Amazon sales. Only when sellers make sales are repayment obligations due, offering safety throughout leaner times. The programme is easily accessible within a few days, involves no lengthy paperwork, fixed terms, or late fees.

Eligible businesses with at least three months of trading history on Amazon can apply for funding ranging from GBP 500 to GBP 2 million through their existing Amazon UK business accounts. Amazon collaborates with YouLend for this financing option, aiming to provide fast, flexible, and accessible funding to sellers. The program is designed to boost sellers' confidence during cash flow expansion efforts, allowing repayments based on their business performance.

Amazon Pay integrates Affirm to offer more flexible payment options Amazon has revealed that American merchants who use Amazon Pay have the option to include Affirm's Adaptive Checkout as a payment method. This partnership brings Affirm’s pay-over-time technology, used by millions of customers on Amazon.com and the Amazon mobile app, to Amazon Pay’s simple and secure payment solution. Amazon Pay has integrated Affirm's Adaptive Checkout for merchants like Casper, USA Berkey Filters, and UltraSabers, leading to expectations of increased overall sales and conversions, as well as reaching new customers.

Offering Affirm at checkout has shown to drive higher average order values (60% higher) compared to other payment methods, and it fosters customer loyalty with approximately 88% of Affirm purchases being from repeat users. This move aims to provide convenient and flexible payment options to customers using Amazon Pay, enabling pay-over-time choices for existing customers and attracting new ones. .