The social payments company iZettle has launched in Brazil as part of its global partnership with Banco Santander. Small businesses will be able to order a chip-and-signature card reader and accept card payments with Apple and Android smartphones.

We use our mobiles for everything – from booking a cab to checking our balance. And in Brazil – where 44% of the population is unbanked but an increasing number have access to smartphones – the mobile banking market is ripe for new players. Enter Nubank, a mobile-only credit service.

New shopping malls and a young population with sophisticated shopping tastes are helping make Brazil one of the world's most profitable luxury markets. But the recent economic downturn means optimism is ebbing. Does a gloomy economic outlook spell the end of Brazil’s luxury bonanza?

The first South American Michelin Guide highlights 17 restaurants based in Brazil, putting the country's cuisine squarely on the map. From food truck festivals to gourmet burgers with a South American twist, the new Brazilian flavour goes far beyond beans and rice. So what’s getting served up?