Thinking of boosting access to credit for Brazilians and expanding the use of a simple, secure, and fast solution, especially in private label transactions, Horizon Pay brings to the payment methods market the PIXCard. The new tool uses the well-known PIX to streamline the purchasing process, allowing the option of installment payments for the purchase, as well as the possibility of using the credit limit, especially in private label operations, at any establishment. This gives more purchasing power to the end customer and ensures that administrators operate freely to expand their transactions in the market, prospecting and retaining consumers.
According to data released by the Central Bank of Brazil (BC) and the Brazilian Association of Credit Card Companies and Services (Abecs), transactions made with Pix reached R$29 billion in the first half of 2024. In a projection made by the Brazilian Federation of Banks (Febraban), it is estimated that transactions through this method should grow by 52.4%, totaling 63.7 billion operations next year. Therefore, the PIXCard follows this increasing market acceptance.
“The biggest differential lies in the simple way it can be used by customers, as the solution is based on PIX usage and is linked to greater negotiation power with the establishment. For the merchant, receiving payments upfront is an advantage; for the customer, purchases can be split directly in purchasing channels, such as applications,” explains Vinícius Machado, Products Director and Digital Innovation Specialist at Horizon Pay.
A survey by Genial/Quaest published in July this year revealed that 63% of people have reduced purchasing power compared to the last 12 months. In this sense, PIXCard allows private label customers of a particular retailer to use part of their limit outside that network. This brings better use of the credit limit, favoring engagement and loyalty with the retail.
With investments in the financial sector, Brazil has a high level of consumer interest in accessing credit. According to a study by TransUnion released this year, over 43% of Brazilians stated that only one person in their household used a credit card from a retail network in the last 12 months, which occurs due to lack of access. In this sense, 46% of the people interviewed are interested in becoming a customer and expanding their relationship with digital institutions to obtain a credit card. Additionally, 51% claim to have already adopted digital wallets for sending or receiving money (the number reaches 57% among Millennials). The high acceptance of digital banks reveals an opportunity for companies and fintechs to operate in the banking market and achieve significant expansion.
