🤝Brazil🇧🇷 Counter-Trend: Traditional Bank Integrates Pix with Credit Card Limits

🤝Brazil🇧🇷 Counter-Trend: Traditional Bank Integrates Pix with Credit Card Limits

As alternative payment methods continue to gain traction, Santander Brazil is broadening the role of credit cards in its customers’ financial lives.

▶️Context: Pix is the Central Bank of Brazil’s instant payment system, originally designed to bring the unbanked population into the financial system. Today, however, it is used by virtually everyone. In the high-risk segment, in 2024, 97% of betting transactions were processed via Pix.

▶️Santander Brazil’s new feature is available exclusively through the bank’s mobile app.

▶️Transaction amounts can be paid in full or in installments (up to 12 payments), with the option to defer up to 3 bills.

▶️Payments will be charged directly to the credit card statement. According to the bank, using Pix with a credit card is subject to the financial operations tax (IOF), and the average interest rate starts at 1.59% per month.

▶️The new service will be available to regular and most active customers starting in September.

#news #Brazil

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