Nubank, the leading online bank in Latin America, is preparing to widen its range of services by venturing into the telecommunications sector with its new mobile network, NuCel. The fintech company, which had been keeping this development under wraps, has started inviting a select group of users to trial the new network in a test phase.
NuCel begins its preliminary testing and rollout strategy.
NuCel tests are set to begin soon, but an official date for the public launch has not been announced yet. Nubank will conduct these tests in Brazil to identify and address any issues before expanding the service. Further details about the service’s operation have not been disclosed yet.
Nubank received authorization from the National Telecommunications Agency (Anatel) in April 2024 to function as a virtual mobile operator, allowing NuCel to utilize Claro’s network for offering telephone services.
Nubank’s strong presence in the prepaid plan recharge market in Brazil, with over 20% market share, could help NuCel expand. Additionally, Nubank’s widespread application usage among millions of Brazilians could make entering the telecommunication market cost-effective.
Nubank can create additional revenue streams by implementing this approach, particularly beyond the realm of conventional financial services, according to experts.
Travel route