Nubank Adds eSIM Capability For Its Premium Account Holders

Brazilian challenger bank Nubank is working with Telecom-as-a-Service platform Gigs to add a digital travel eSIM to its package for premium users.

Customers with Nubank’s Ultravioleta premium plan can activate the 10GB eSIM from their mobile banking app. This helps them avoid high roaming charges and gives them free high-speed data while traveling abroad.

Nubank Wants To Offer Comprehensive Solutions To Their Customers

Hermann Frank, Co-founder and Chief Executive Officer of Gigs, stated that Adding travel eSIMs is the next step in Nubank’s move into the travel market. It will help more people use the Ultravioleta plan among Nubank’s 100 million users.

Putting everything like insurance, banking, and now telecom in one place makes things easier for users and keeps them coming back. Nubank is bringing banking and telecom together, and it will be interesting to see who else does the same.

NuBank is following Revolut’s lead. In February, Revolut introduced an eSIM service to help UK premium customers avoid expensive data roaming charges when traveling. Western Union also joined in March, offering a paid eSIM service to its digital wallet users in Romania, Poland, Italy, and Germany.

Nubank Ultravioleta customers get extra benefits like 24-hour customer service, unlimited withdrawals, insurance coverage, family accounts, cashback incentives, attractive rewards, and higher credit limits.

The agreement with Gigs happened after the company brought on Rafael Plantier, a Stripe and Nubank veteran, as Head Of Financial Services in April last year.

Nubank Will Provide A Comprehensive Financial Experience For Its Customers

Nubank was funded in 2013 by American Edward Wible, Brazilian Cristina Junqueira, and Colombian David Vélez. The first time someone used a Nubank card was on April 1, 2014. Four years later, Nubank became a unicorn startup valued at US$1 billion.

Nubank is the most prominent fintech bank in Latin America, with 80.4 million customers in Brazil and 1.51 million in Colombia and Mexico. It makes $1.69 billion in revenue. Nubank went public in December 2021 and made $45 billion in revenue.

The bank offers products like NuConta (a digital account) and an international credit card with no fees. The firm also provides personal loans, investments, and life insurance. What makes the company special is that its credit card is managed entirely through a mobile app.

The app lets users see transactions as they happen, block their credit card, request a higher limit, and reach customer support.