Thinking about boosting access to credit for Brazilians and expanding the use of a simple, safe and fast solution, especially in transactionsprivate labelHorizon Pay introduces PIXCard to the payment methods market. A new tool uses the well-known PIX to simplify the purchase process, allowing installment options for negotiation, as well as the possibility of using the limit, especially in operations.private label, in any establishment.This gives the end customer more purchasing power and ensures that administrators operate freely in order 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 and Services Companies (Abecs), transactions made with Pix reached R$29 billion in the first half of 2024. In a projection conducted by the Brazilian Federation of Banks (Febraban), it is estimated that transactions by the method will grow by 52.4%, totaling 63.7 billion operations next year. Therefore, PIXCard accompanies this growing market acceptance.
"The biggest advantage lies in the simple way customers use it, after all, the solution is based on the use of PIX and is linked to a greater potential in negotiation power with the establishment. For the retailer, immediate payment is an advantage; for the customer, the purchase can be divided into installments directly through purchasing channels, such as apps," explains Vinícius Machado, Product Director and Digital Innovation Specialist at Horizon Pay.
A Genial/Quaest survey published in July of this year revealed that 63% of people have less purchasing power compared to the last 12 months. In this sense, PIXCard allows clientsprivate labelthat a certain retailer uses part of their limit outside that network. This brings better utilization of the credit limit, promoting engagement and loyalty with retail.
With investments in the financial sector, Brazil shows a high level of consumer interest in gaining access to credit. According to a TransUnion study released this year, more than 43% of Brazilians state that only one person in their household used a retail chain credit card in the last 12 months, which occurs due to limited access. In this regard, 46% of the respondents are interested in becoming clients and expanding their relationship with digital institutions in order to obtain a credit card. Additionally, 51% say they have already adopted digital wallets for sending or receiving money (the number rises to 57% among Millennials). The high acceptance of digital banks reveals an opportunity for companies andfintechsact in the banking market and achieve significant expansion.
