Business

PicPay debuts in the personal credit market

PicPay has been testing credit cards since January and said it will launch debit cards

Brazilian digital wallet PicPay app on smartphone
Brazilian digital wallet PicPay. Photo: Shutterstock
  • PicPay has achieved 20 million users;
  • The fintech is already negotiating with other partners interested in offering personal credit through the platform

Brazilian payments app PicPay announced it will launch two new products: cards and personal credit. In an exclusive interview to NeoFeed, the startup shared that the strategy behind these new products is to offer a larger portfolio of financial services based on distant payments, like the QR code.

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Recently, PicPay has achieved 20 million users, of which 8 million are active ones, according to the company. NeoFeed also reported the official debut in the credit market is scheduled for June, with the offer of loans to individuals. In the phase of adjusting terms, rates and other conditions, the first operations were carried out last week.

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According to the company, besides Banco Original, the fintech is already negotiating with other partners interested in offering personal credit through the platform. The same approach is being used on cards. In January, PicPay started testing credit cards, in partnership with Original, with a 30,000 customers basis. And now it is launching a debit card, whose adjustments were also finalized last week.