Source: Macauhub

The international arm of Chinese payments service China UnionPay says it has got together with StoneCo and Saque e Pague to facilitate growth in the use of UnionPay credit cards in Brazil.

Their three-way agreement will increase to 70 percent the rate of acceptance of UnionPay cards in Brazil, according to a written statement issued by the China UnionPay subsidiary on Wednesday.

The statement says StoneCo will arrange for about 360,000 Brazilian shops and restaurants to accept UnionPay cards and UnionPay payments by mobile phone, and that Saque e Pague will arrange for 1,500 more of its automated teller machines to take UnionPay cards.

The agreement means UnionPay cardholders in Brazil can make international payments, the statement by the China UnionPay subsidiary quotes Saque e Pague Chief Executive Givanildo Luz as saying.