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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 photo after an interview with Reuters in Sao Paulo, Brazil August 8, 2017. Photo taken on August 8, 2017. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) – Banco Santander Brasil SA has a partnership with Natura Cosmeticos SA offer banking services to the cosmetics maker of the sellers, according to a securities filing on Wednesday.

The company said Santander will provide digital control of the accounting to the 1 million sellers on the cosmetics by means of a Kind online app, as well as debit and credit cards, and card reader machines and a micro-credit system.

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

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

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