ReutersOct 15, 2019 04:16:03 IST
SAO PAULO (Reuters) - Alphabet Inc's
Online retailers in Brazil often take only credit cards, not debit cards, because of a higher incidence of fraud, a problem Google said it has tackled, without disclosing how.
Joao Felix, responsible for Google Pay in Latin America, said Brazil has 60 million debit card holders, while credit card holders total 50 million. By enabling debit card payments, Google increases its target market, he added.
Further details on the new debit function or usage estimates were not provided.
Google will not charge retailers, card issuers or card processors for the use of its debit payment platform. Felix said the company's goal is to increase Android smartphone's usage.
Card issuers Banco do Brasil SA, Banco Bradesco SA and Itau Unibanco Holding SA will allow clients to use the Google Pay's debit function, as well as card networks Mastercard
(Reporting by Carolina Mandl; Editing by Steve Orlofsky)
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