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In addition to payments, PicPay creates a unit dedicated to cards and personal credit


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The payment market has not been enough for PicPay. Fintech with headquarters in Vitória (ES) and an office in São Paulo now announces the entry into two other segments: cards and personal credit.

According to the NeoFeed portal, PicPay – which belongs to Banco Original – even created a business unit within fintech, dedicated especially to this expansion: the PicPay Card and Credit.

“We understand that these products are ready to go to the open sea and gain scale. For this reason, we decided to create a business unit to bring these two solutions together, which are structuring for any financial ecosystem ”, said PicPay's CEO, Gueitiro Genso.

Also according to NeoFeed, fintech's entry into the credit market is scheduled for June, with the offer of loans to individuals. Regarding cards, the service has been in the testing phase since January, with the support of Banco Original, and should start operating in the coming days.

To coordinate the PicPay Card and Credit, fintech hired Frederico Trevisan, who accumulates passages at banks Santander, Citi and Itaú Unibanco.

Channel for social benefits and actions

PicPay has also taken a stand amid the coronavirus pandemic, through partnerships with governments and non-governmental organizations (NGOs).

Fintech has a donations center for receiving and passing on donations raised by events such as artists' charity lives and other fundraising campaigns. To do this, it is necessary to read a QR Code that is read by the PicPay app.

There are also fintech's partnerships with the government of São Paulo and the City of Duque de Caxias (RJ) for the payment of meal aid for low-income students enrolled in the public school system. For this case it is also necessary to have the PicPay application installed on a cell phone.

Although PicPay does not retain any value from these transactions, the need for the application enhances the customer base. Fintech claims to already have 20 million users, 8 million of whom are active.

Higher exposure and higher charges

However, the growth of PicPay is far from pain-free. Along with this greater highlight, there were also more complaints about the services provided by the company.

A survey by the Bitcoin Portal on the Reclame Aqui portal showed that in the first 25 days of April there were 6,840 complaints – which represents 62.8% of all complaints made in the last six months.

Complaints have different motivations. Undue or duplicate charges, problems with payment clearing, failures in reversing transactions and blocking accounts and transactions are among them.

At the time, PicPay stated in the report, via a press service, that its employees “have been working tirelessly to ensure the best experience for users of the application”.

The company also says it is expanding its workforce to address the strategy of expanding the customer base.

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