Brazilian Fintech PicPay reaches 55M customers and 10M cards issued

September 15, 2021
Investments, finance, economics and business.
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Last month PicPay reached the mark of 10 million cards issued. The product, which began to be offered in May 2020, followed the growth of the customer base: today there are 55 million users.

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According to a note released by PicPay this Friday morning (10), in the first half of this year alone, 6.3 million cards were issued, while the pace of 1 million issues per month in 2021 remains unchanged .

The Total Payment Value (TPV) of PicPay Card, an important measurement index for the payments market, reached R$1.3 billion in the second quarter, 45 times higher than the same period last year. Annualizing the result of July, the number rises to R$8.6 billion.

The number of customers, responsible for the growth presented by fintech, has already advanced by 16 million this year.

“With more than 55 million registered users and without the risk of the operation, PicPay works as an open platform and a giant distribution channel for the financial products of other institutions”, comments Frederico Trevisan, head of Credits and Cards at PicPay, in note.

"The interaction within the platform and the high capacity of artificial intelligence allow PicPay's offer to be more assertive and favorable to conversion."

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Currently, PicPay has a cashback of up to 10% on the amount spent on purchases by customers.

All customers with activated debit function receive the card invitation. The depends on the user profile, credit is also offered.

PicPay reaches half a billion in loans
Another outstanding financial product, according to the direction of fintech, is personal credit, which also reached record levels in August.

The credit portfolio totaled R$500 million in just six months of launch and three months of the product's offensive.

The launch of personal credit preceded the purchase of Guiabolso, which took place in July. PicPay's financial marketplace is one of the growth avenues observed by the company.

"This business area is one of the main strategic pillars of PicPay to increase the user base, penetration, user recurrence and product cross selling."

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

According to a note released by PicPay this Friday morning (10), in the first half of this year alone, 6.3 million cards were issued, while the pace of 1 million issues per month in 2021 remains unchanged .

The Total Payment Value (TPV) of PicPay Card, an important measurement index for the payments market, reached R$1.3 billion in the second quarter, 45 times higher than the same period last year. Annualizing the result of July, the number rises to R$8.6 billion.

The number of customers, responsible for the growth presented by fintech, has already advanced by 16 million this year.

“With more than 55 million registered users and without the risk of the operation, PicPay works as an open platform and a giant distribution channel for the financial products of other institutions”, comments Frederico Trevisan, head of Credits and Cards at PicPay, in note.

"The interaction within the platform and the high capacity of artificial intelligence allow PicPay's offer to be more assertive and favorable to conversion."

PicPay faces lawsuits for not returning money to its customers
Currently, PicPay has a cashback of up to 10% on the amount spent on purchases by customers.

All customers with activated debit function receive the card invitation. The depends on the user profile, credit is also offered.

PicPay reaches half a billion in loans
Another outstanding financial product, according to the direction of fintech, is personal credit, which also reached record levels in August.

The credit portfolio totaled R$500 million in just six months of launch and three months of the product's offensive.

The launch of personal credit preceded the purchase of Guiabolso, which took place in July. PicPay's financial marketplace is one of the growth avenues observed by the company.

"This business area is one of the main strategic pillars of PicPay to increase the user base, penetration, user recurrence and product cross selling."

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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