Pix by Approach can encourage Open Finance, says expert

Launched on Monday, the 4th, Pix by Approximation will make life easier for consumers in two ways: directly, in day-to-day payments; and indirectly, by encouraging consumers to join Open Finance. This is what explains the partner in the area of Payment Methods of Barcellos Tucunduva Advogados (BTLAW), Thiago Amaral.

For the specialist, the consumer will realize two benefits immediately in their day-to-day purchases. “The first advantage is not having to open the bank's application, which was one of the fears of using Pix in public places. Simply touch the mobile phone on the payment machine to make the purchase”.

The second benefit would be more geared to e-commerce customers. “For online purchases, it is possible to link your account in the virtual store and make the payment directly in the store, without having to go to a bank page. It is also an advantage for e-commerce stores, since it prevents this consumer from abandoning the shopping cart’ 

Open Finance & the indirect benefit will be the automatic registration in Open Finance and the benefits linked to it.

“O Pix by Approximation will start to work through digital wallets. The consumer registers the key in the application to use only the smartphone during payment. But, for this, he needs to authorize Open Finance at the institution where he is a account holder. Because the application will have to verify the purchase and obtain payment permission from banks and other institutions. In practice, he will end up registering new customers in Open Finance”

According to Thiago Amaral, sharing information with financial institutions “tends to bring more personalized solutions, better loan or financing conditions, greater financial health, as well as better control of their own data, requiring, of course, approvals with each” share.