Banco Itaú has a project to be the first Brazilian bank to offer credit via Pix. The project was selected by the Central Bank and is now part of the Regulatory Sandbox initiative, which tests innovative financial projects.
The information was obtained from the website. Economic value and so far the card segment of Itaú, Itaucard, which will offer the modality did not give further details about the project. An unnamed source from the payments market says the project will be revolutionary. “When you spend on the card, you only pay when the invoice arrives, and the merchant accepts it because the brand is a guarantee that the bank will pay it. “, said the anonymous source.
Pix Credit would be a tool that would have fewer intermediaries than the card. Despite being a risky operation for banks, after all they assume the value of the credit. The anonymous source suggests creating special payment conditions and discounts to use Pix Credit. To Valor Econômico, the anonymous source says that it is possible to offer discounts on top of what the flag received, and the value could be converted into double miles, for example.
Despite the fact that Itaú has not provided details about the project so far, the initiative should move the card market a lot. After all, the Pix payment system has already become part of the daily lives of Brazilians. The Central Bank has already registered more than 110 million customers in just 12 months of operation.
Even though it’s not completely safe, with numerous scams and the leakage of Pix keys from more than 160 thousand users, the tool continues to evolve constantly. Recently, the Central Bank implemented two new functions to Pix: Pix Loot and Pix Exchange, allowing withdrawals at commercial establishments and ATMs.
Learn how Pix Saque and Pix Exchange work
- User goes to the commercial establishment or ATMs that offer the service;
- Performs Pix by scanning a QR Code, or using the service provider’s application;
- After authentication, the user receives the transfer amount in cash.
- User goes to the commercial establishment that offers the service;
- Make the Pix of the value of the purchase, or service + the desired change;
- After authentication, the user receives the change in cash;
- The amount corresponding to the withdrawal and the purchase amount appears on the statement. For example: when buying a product worth R$25.00 and making a Pix Exchange of R$50.00, the user will receive R$25.00 in cash.
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Source: Globe Value