In Brands, Finance

Natura and Santander join forces in order to offer exclusive banking services to over 1 million beauty consultants in Brazil. The initiative is part of the company’s revitalization plan and the digitization of its business model. Natura Beauty Consultants will now have access to an account free of maintenance charges as well as a digital microcredit line, card terminal, and access to financial education via WhatsApp.

The fully digital account has an embedded interface with both the website and the Natura Consultant App, allowing access to banking services such as the Natura card, withdrawals, deposits, and transfers, as well as a POS (point of sale) machine for credit and debit card payments offering exclusive conditions. The proceeds from sales (made via the webpage Rede Natura, or the card terminal) will be paid directly into the account. The balance can be used to make purchases with the Natura card, to pay bills and to make transfers.

Beauty Consultants will also be able to access microcredit directly through the App, to be used solely for the purchase of Natura products. The new service also aims to offer credit to Beauty Consultants so that they can invest in the expansion and professionalization of their activity.

“This is yet another initiative to empower our Beauty Consultants, enabling them to offer better customer experience. Moreover, we are contributing to their bankarisation and social inclusion,”  João Paulo Ferreira, Natura’s CEO, said in a statement. “Our goal is to enable the Consultant to earn more, which in turn will increase our revenues. By enabling them to conduct more business transactions, it is a win win situation for all. It is also another step towards further cementing their loyalty. New services like this pave the way for an ongoing increase in Consultant productivity.”

“Providing support for Natura Beauty Consultants means providing support for enterprise and financial inclusion, both fundamental needs in Brazil, where the most urgent challenge is to generate employment and income,” states Sérgio Rial, president of Santander Brasil. “This partnership was only possible because we are a bank that has an integrated vision of the value chain. We are able to offer solutions both for large companies and for their suppliers, employees and partners.”

Since 2016, Natura has been conducting a study to measure its Beauty Consultants’ Human Development Index (HDI). The study identified a high need for financial education. To address this, the Natura Account card will be pay-as-you-go, that is, the Beauty Consultant can only make purchases when there is a positive balance in the account. Natura will also be offering Beauty Consultants training in finance via WhatsApp.

The Natura Account initiative will be available to the network of 1.1 million Beauty Consultants in Brazil in the first half of 2019.

Photo: Fancycrave via Unsplash

 

 

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