Business

Brazilian broker XP will offer a new product: an international credit card

The product, which is a partnership with Visa, is still in beta phase

Photo: Screenshot.
  • The new product also offers a different type of cashback. A part of the money spent will go back to the user in the form of an application in an exclusive fund;
  • The card, which is a partnership with Visa, will be international and of the Infinite category.

The Brazilian XP Investimentos announced on Monday a new product: a credit card, still in beta phase, being tested by the employees of the XP Inc group and independent agents who are partners of the company.

A group of customers of the brokerage should have access to the card in the fourth quarter of this year, but only in 2021 does XP expect to make the product available to its entire customer base.

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The new product also offers a different type of cashback. A part of the money spent will go back to the user in the form of an application in an exclusive fund.

The card, which is a partnership with Visa, will be international and of the Infinite category. In March, during an earnings conference on fourth-quarter results, the brokerage had announced that it would issue Visa’s cards.

According to an interview by CFO and partner of XP Inc, Bruno Constantino, to Infomoney, no annual fee will be charged from the customers, and the application resulting from the cashback will have a “minimal cost”.

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Since 2019, XP Investimentos has been authorized to become a bank, but it has always stressed that it does not have the desire to become exactly one, but to offer an increasingly complete product and service platform focused on investments.