Itaú Unibanco Adds Vehicle Tax Payments to Mobile App

Itaú Unibanco updated its mobile banking app to allow users to pay vehicle property taxes (IPVA), mandatory vehicle insurance (DPVAT), licensing fees, and traffic fines directly on their phones. The feature mirrors tools previously available on the bank's desktop internet banking platform. The service is currently limited to drivers paying vehicle taxes in the state of São Paulo, with plans to expand to other regions.

In São Paulo, the IPVA tax rate equals 4% of a vehicle's assessed market value. Customers can bundle their payments during the licensing process, which consolidates IPVA, DPVAT, and any existing traffic infractions.

To access the service, account holders must enter their National Vehicle Registry (RENAVAM) information through the app. The system then displays all outstanding vehicle debts. If the vehicle's registered ownership does not match the bank account holder, the client must complete a validation step at an ATM before settling the debt.

The release aims to serve growing mobile banking traffic. In October 2018, Itaú Unibanco surpassed 10 million individual retail customers across its digital channels, marking a 14% increase compared to October 2017.