Santander Brasil partners with cosmetics maker Natura to offer banking services

FILE PHOTO: Santander Brasil SA’s chief executive officer, Sergio Rial poses for a photograph after an interview with Reuters in Sao Paulo, Brazil August 8, 2017. Picture taken August 8, 2017. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) – Banco Santander Brasil SA has partnered with Natura Cosmeticos SA 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 microloans.

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

Reporting by Gabriela Mello; Writing by Carolina Mandl; Editing by Jeffrey Benkoe

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