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Brazil's Cielo, Banco Original strike digital product partnership

Brazil's card processing company Cielo SA on Dec. 19 said it signed a nonbinding memorandum of understanding with Banco Original SA for the purpose of exploring a new digital offer model and payment solutions for micro- and small-sized entrepreneurs.

In a regulatory filing, Cielo noted that the plan was "aligned with the [company's] efforts to expand and strengthen its distribution channels."

Banco Original has operated a digital retail banking platform since 2016.