Via Varejo in talks about using Chinese payment systems

Via Varejo SA Chairman Michael Klein has said executives of his company are in China to discuss how the Brazilian retailer of electronics and electrical appliances can make use of Chinese electronic payment systems, Reuters reports.

The news agency quotes Mr Klein as telling reporters that Tencent Holdings Ltd, which runs the WeChat Pay payment system, is among the Chinese companies the executives are talking to.

Mr Klein said his company was returning to its former practice of offering customers credit itself, no longer relying on issuers of credit cards to do so.

In June Via Varejo opened an online bank called BanQi for customers with little income and no other bank account, Reuters says.