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Santander Brasil Partners With Cosmetics Maker Natura to Offer Banking Services

The deal will offer digital checking accounts and other banking services to Natura's 1 million sellers.
Natura | Source: Shutterstock
By
  • Reuters

SÃO PAULO, Brazil — Banco Santander Brasil has partnered with Natura Cosmetics to offer banking services to the cosmetics maker's sellers, according to a securities filing on Wednesday.

The company said Santander will offer digital checking accounts to the 1 million sellers of the cosmetics through a Natura online app, as well as debit and credit cards, card reader machines and a system of micro-loans.

In January, Banco Santander Brasil chief executive Sergio Rial had said the bank was developing a partnership with Natura, without providing details on the deal.

By Gabriela Mello and Carolina Mandl; editor: Jeffrey Benkoe.

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