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Brazil's Itaú Unibanco to launch new card processor

SAO PAULO, July 17 (Reuters) - Brazil's largest private lender, Itaú Unibanco Holding SA announced on Tuesday the kick-off of a new card processor targeted at small companies.

The new company Credicard Pop will have separate pricing and payments policies from Itaú's largest card processor, Redecard SA, known as Rede. Credicard Pop won't charge monthly fees and will pay stores within two days for credit card transactions, a much shorter period than the average 30 days in Brazilian card industry.

(Reporting by Aluisio Alves; Writing by Carolina Mandl)