Banco Safra rolls out SafraWallet in Brazil
Brazilian bank Banco Safra has introduced SafraWallet, a mobile phone app that allows customers to make transfers, bank withdrawals and purchases using a QR code.
SafraWallet withdrawals and payments are exempt from bank fees. Customers do not need to have a Banco Safra account to use the app. And the registration process is free, simple and quick and does not require proof of income, the bank said in a press release.
Consumers can load money into the SafraWallet in one of three ways: they can transfer funds from another bank account, they can port their salary into the wallet or they register a credit card.
Then, when they go to make a purchase, they can use the balance of the wallet or any of the registered credit cards without requiring a plastic card.
The digital wallet is also integrated into SafraPay, that bank's card payment machine for retailers.
Clients who need paper money can use SafraWallet to make cash withdrawals at Safra Bank's more than 23,000 cash machines and ATMs using the QR Code.
SafraWallet is available on the App Store and Google Play.