Magalu has just launched the MagaluPay Digital Installment Plan, a new option for installment payments on purchases, fully integrated into the company's app. Initially, 2.4 million customers with pre-approved credit have the feature enabled in the app and will be able to use the modality in a 100% streamlined and transparent manner.
"Our MagaluPay digital installment plan was developed to enhance our customers' purchasing power and boost the growth of our e-commerce," says Carlos Mauad, CEO of MagaluBank. Our intention is to expand credit offerings responsibly in the coming months, following the company's mission to provide access to those who do not have it.
The service offers personalized rates and credit lines for each client, with online, simplified, and secure contracting, through devices such as facial recognition validation. The management of the installment plan is also done within the app itself, which allows you to view paid and pending installments, available balance, and the contract for each purchase made via the digital installment plan. Customers can also make payments and advance installments – resulting in reduced interest – via PIX or boleto, including using the MagaluPay digital account, which eliminates the need to leave the app.
With proprietary technology, the solution is integrated with all Magalu service, backoffice and management channels, ensuring agility for future expansions of credit offerings.
