PicPay launches important news involving Open Finance

Check out the news on the PicPay app involving Open Finance and learn how to make money with the digital wallet.

Estimated reading time: 3 minutes

PicPay, one of the largest digital wallet applications in Brazil, has a novelty that will revolutionize users’ experience with the platform. This is because there is now the possibility of sharing on Open Finance, that is, the platform for organizing accounts in one place.

In this way, PicPay’s idea is to improve its customers’ journey within the platform, with the customization of products and services.

About PicPay news

First, the focus of the digital wallet is on improving the platform, because with the increase in its presence within Open Finance and with Guiabolso, a financial planning application, Picpay aims to get ahead of competitors.

It is worth noting that the Guiabolso platform was created in 2012 and was acquired by Picpay in 2021. Thus, with the participation of the two financial organization platforms, the digital wallet’s plan is to consolidate itself as the largest performer of financial transactions in the country.

Thus, according to experts in the field, Picpay already has this natural advantage for using this Guiabolso Open Banking system. Therefore, the results are already seen by the platform, even though the operating time within the system is recent.

Phase two tests have been running for three months, and the consent conversion rate is 80% above average. These data were highlighted by Open Finance itself.

In addition, representatives of the app reported that in October, a financial planning tool will be launched within the app itself. Therefore, Picpay’s idea is to introduce a “mini Guiabolso” in its app.

There are three ways to earn money with Picpay, they are:

  • Invite friends;
  • Save money on the platform;
  • cashback.

In the first option, each person indicated who opens an account, the customer earns 10 reais. It is worth mentioning that there is a limit of referral in 55 friends, that is, the user can earn up to R$ 550.00.

In the second case, saving money on PicPay can yield 105% of the CDI and is available for amounts of up to R$ 100 thousand.

Finally, cashback works from the payment of tickets to the purchase in partner stores of the brand.

Image: JERO SenneGs/shutterstock.com

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