The launch of automatic PIX by the Central Bank reignites the debate about the obsolescence of bank slips in Brazil. The tool will allow the scheduling of recurring payments, such as school fees, subscriptions, and utility bills, without the need for manual authorization for each debit.
However, for Reinaldo Boesso, financial expert, CEO, and co-founder of the fintech TMB, bank slips will continue to be a key component in various contexts of the Brazilian economy. ‘Bank slips, despite their challenges, remain the primary means of access to consumption for millions of Brazilians, especially in installment purchases and when there is a lack of revolving credit,’ states Boesso. According to a survey by the National Confederation of Shopkeepers (CNDL), 47% of Brazilian consumers prefer to pay in installments and often do so through this method.
The TMB, a fintech specializing in installment payment solutions via bank slips, identifies a revenue leap for companies that offer this option. ‘Those who provide this convenience can double their revenue. This happens because they serve a previously excluded audience who lacked credit cards or sufficient credit limits,’ explains the CEO.
Automatic PIX is an advancement but has limitations
The Central Bank’s new functionality primarily aims to modernize the old automatic debit system, which still has limited adoption. Automatic PIX will be more efficient for fixed charges, such as phone plans or gym memberships. However, according to Boesso, the installment credit structure requires a flexibility that PIX, as of now, does not offer. ‘When a client signs up for a course or mentorship in installments, there are grace periods, promotions, and negotiations in case of default. Bank slips adapt to this reality. Automatic PIX does not,’ details the executive.
Another decisive aspect is financial control on the consumer’s part. A survey by Opinion Box indicates that 63% of Brazilians avoid maxing out their credit card limits to maintain a buffer for emergencies. In this sense, bank slips emerge as an on-demand payment alternative: the consumer pays when they can, within the due date, without automatic debits or surprises.
Financial inclusion and banking reality
Based on data from the Credit Protection Service (SPC Brasil), the average credit card limit in Brazil is just R$ 1,401, while the average ticket for digital products and courses reaches R$ 1,997. ‘The banking reality of Brazilians demands more accessible options. Bank slips allow customers to have decision-making power over their payments, which translates into higher adoption rates,’ comments Boesso.
Additionally, according to data from Pnad TIC 2023, 88% of the Brazilian population over 10 years old is connected to the internet, a significant advancement, but one that still coexists with pockets of the unbanked and limited credit access. In this scenario, the persistence of bank slips as an inclusive payment solution gains even more relevance.
Hybrid future
For Boesso, the future of payments will be hybrid, with automatic PIX gaining ground mainly among recurring charges and subscriptions. However, bank slips will remain an indispensable tool in contexts requiring customization, flexible installment payments, and financial accessibility.
‘Automatic PIX is a commendable advancement, but it doesn’t solve all the market’s challenges. Financial inclusion requires a plurality of payment methods. Ignoring the role of bank slips would mean disregarding a significant portion of the Brazilian population,’ concludes TMB’s CEO.
