SAO PAULO, Feb 21 (Reuters) - Brazilian state-owned lender Caixa Economica Federal is partnering with the world’s largest payments network Visa Inc to issue debit and credit cards, it said on Friday.
The partnership comes as Caixa revamps its card business prior to selling a stake the newly created company, Caixa Cartoes.
Caixa had 109.3 million debit and credit cards issued to clients in December, up 6.2% from a year earlier. Payments with Caixa cards totaled 210.8 billion reais ($47.97 billion) last year. ($1 = 4.3940 reais) (Reporting by Carolina Mandl; Editing by Jan Harvey)