Visas proceeds from the sale are expected to be approximately USD 100 million, based on current exchange rates.
However, Visa International is expected to continue its existing commercial relationship with CBSS, focusing on benefits cards and prepaid cards. Thus, CBSS is set to continue issuing Visa Vale prepaid cards.
Visas sale is subject to regulatory approval by Brazils Conselho Administrativo de Defesa Economica.
In recent news , Visa has entered an agreement with US insurance company InsurCard, naming the latter its preferred company for the delivery of payment for insurance claims.
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