Qorus Banking Innovation Awards 2023

Instant Payments with Credit Card: amplifying possibilities

Submitted by

RecargaPay

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12/09/2023 Banking Innovation

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The adoption of Pix, the Brazilian Instant Payments platform, has been enormous. Pix surpassed the amount of TED, DOC, check, and bank slips transactions in a few weeks from its launch, with over 40 million Brazilians registering their Pix key in the first month across the country. RecargaPay has transformed Pix into a financial powerhouse for the whole industry, introducing Pix payments with any credit card. For the merchants, the payment arrives instantly and for free, while the clients could take advantage of better prices & discounts, and pay for something in installments - BNPL style - through their credit card, impacting millions of Brazilians and creating a new way of dealing with finances that is mutually beneficial in both ends and strengthening the economy as a whole.

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