US EditionTikTok Eyes Brazilian Fintech Market: A New Financial Frontier
7 Articles
7 Articles
TikTok is preparing to enter the financial market in Brazil and is already seeking permission from the Central Bank to operate as a loan and payment fintech, according to information from the Reuters agency, citing two people with direct knowledge of the subject. According to Reuters, TikTok asked for two licenses to the regulator. A permit for the company to act as a “e-money issuer”, offering pre-paid accounts for users to keep balances, recei…
TikTok Eyes Brazilian Fintech Market: A New Financial Frontier
TikTok, under ByteDance's ownership, is seeking approval from Brazil's central bank to function as a lending and payments fintech. This move could make TikTok a major financial service provider in Brazil, following a model similar to Nubank. The initiative includes applying for licenses to operate as an electronic money issuer and a direct credit company.
TikTok Aims to Offer Banking and Payment Services in Brazil
TikTok is reportedly seeking permission to provide lending and payment services in Brazil. The social media platform has filed for two licenses with the Brazilian central bank, Reuters reported Tuesday (March 31), citing two sources with direct knowledge of the matter. The first would let TikTok serve as an “electronic money issuer,” providing prepaid accounts for users to hold balances, receive funds and make payments within the app.…
TikTok targets Brazilian market with dual fintech licence bid – report
TikTok, owned by China’s ByteDance, has submitted applications to Brazil’s central bank for authorisation to operate in the country’s financial services sector, reported Reuters. According to sources cited by the news agency, the social media platform is seeking approval for two types of licences. One would enable it to act as an electronic money issuer, providing users with prepaid accounts to hold balances, receive payments, and make transa…
According to two individuals familiar with the matter, the social media platform TikTok, which is controlled by the Chinese company ByteDance, is seeking the approval of the Brazilian Central Bank to operate as a fintech company in the area of lending and payments. The sources that wanted to remain anonymous, as the plans are confidential, said that TikTok has applied for two licenses to the supervisory authority. [...] The post TikTok aims at B…
TikTok Seeks Approval to Launch Payments and Lending Services in Brazil - Tech
TikTok is seeking licence approval to offer payments services in Brazil, according to two people familiar with the matter. The platform, owned by ByteDance, has applied to Brazil’s central bank for two licences that would allow it to operate as a payments and lending company. The people told Reuters the plans are confidential and asked not to be named. One of the licences would permit TikTok to act as an electronic money issuer. That would allow…
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