Itaú Takes a 40% Stake in Handy as Part of Digital Inclusion Strategy in Uruguay

Published 5 months ago
  Banco Itaú

The international bank, Itaú, has acquired a 40% stake in the Uruguayan paytech company, Handy, as part of their strategy to promote digital inclusion in the country. The collaboration aims to offer banking opportunities to all businesses and merchants across Uruguay.

Electronic Transactions on the Rise

Electronic transactions currently account for 48% of Uruguay’s retail payments, amounting to $16.8 million annually. The integration between Itaú and Handy plans to further boost these numbers.

Handy’s Rapid Growth

Just under two years since its launch, Handy has become the primary payment solution for over 20,000 businesses in Uruguay. Martín Guerra, the major shareholder of Handy and Director of Incapital, confirmed that the partnership with Itaú would allow them to offer an expanded range of financial products and other solutions to their customers.

Handy’s Payment Solutions

Handy offers an innovative and simple solution for merchants and independent workers to sell with all cards and payment methods, both in physical and digital channels. The company’s service also provides customers with access to loans that can be repaid through sales made with the affiliated merchant. This partnership with Itaú is expected to broaden these offerings and further facilitate digital transactions in the country.