The idea is simple: the retailer receives the amount of the sale in cash, and the chinese overseas america database customer pays in installments directly to an entity that offers credit, called EPC (Credit Provider Entity). The service is already available through the PixCard app, which can be downloaded on Android and iOS phones.
With this proposal, the startup wants to make life easier for consumers and retailers and help with the financial inclusion of millions of Brazilians.
PixCard works as a simple but powerful payment system. It brings together three parts:
The consumer : the person who wants to buy, but prefers or needs to pay in installments.
EPC : the company that lends the money and defines the installment terms.
The shopkeeper : the merchant who receives payment in full and immediately.
The process is like this:
The consumer must be registered with an EPC that works with PixCard.
At the time of purchase, he uses the app to enter the Pix key and the purchase amount.
Payment is made in cash to the store owner.
Then, the consumer pays the amount in installments to the EPC, following the agreed conditions, such as the number of installments and interest.
Paulo Guimarães, co-founder of PixCard, explains that the solution is like a “virtual card”, but without a brand and without intermediary costs, such as card machines.
Advantages for consumers, retailers and EPCs
PixCard offers important benefits to those who use the system:
For consumers
Access to installments : even without a credit card, it is possible to divide the amount into several installments.
More financial inclusion : those who do not have a bank account can buy more easily.
Ease of use : everything is done through the app, quickly and simply.
For retailers
Immediate receipt : the sales amount arrives immediately, as with any payment via Pix.
Lower costs : you don’t have to pay fees to use card machines.
More customers : installment payments attract those who previously could not afford to pay in cash.
For EPCs
New opportunities : companies that grant credit can reach more consumers.
Practical model : the PixCard platform organizes the entire payment and installment process.
Security : credit conditions are defined between the EPC and the consumer, with total control.
PixCard and financial inclusion in Brazil
Brazil has more than 34 million people without access to banking services, according to data from the IBGE. These people often face difficulties in making purchases in installments, as they do not have access to credit cards or checking accounts.