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Brazil’s Itaú launches virtual card to pay subscription and delivery services

RIO DE JANEIRO, BRAZIL - Itaú (ITUB4) started offering the Recurring Virtual Card in its app and card apps, focused on the payment of permanent services, such as streaming subscriptions, transportation and delivery apps, and registration in digital wallets.

According to the bank's director Fernando Amaral, the online card has grown consistently since it was launched in 2015. At the time, Itaú launched its first virtual card on a temporary basis.

"There were 16 million virtual cards generated [last year], with significant growth in the period from March to May 2020, the first months of the virus in Brazil. In . . .

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