Apple Pay arrives in Brazil, partnering with Itaú Unibanco

An Apple iPhone 6 with Apple Pay is shown in this photo illustration in Encinitas, California, U.S. June 3, 2015. REUTERS/Mike Blake/File Photo

SAO PAULO (Reuters) - Apple Inc’s mobile payment platform Apple Pay arrived in Brazil on Wednesday with an exclusive partnership with Itaú Unibanco Holding SA, the country’s largest private lender.

The bank said Apple Pay will be available during the 90-day exclusive period to Itaú’s roughly 1.2 million card holders who also own an iPhone 6 or higher.

Under the terms of the partnership, Brazilian retailers such as GPA SA will offer discounts on purchases using Apple Pay.

Apple’s partnership with Itaú follows the launch of Google Pay nearly a month ago in a similar partnership between Google parent company Alphabet Inc and Banco Bradesco SA, Brazil’s second-largest lender.

Reporting by Aluisio Alves; Writing by Carolina Mandl; Editing by Stephen Coates