PIX: What Changes in Your Credit Plan

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Have you heard about the new payment method called Pix? Developed by the Central Bank, Pix is ​​an electronic means of payment and transfers. With it, consumers will be able to make payments using their cell phones and, therefore, will not need physical cash for their purchases.

This is a tool that has attracted attention, showing great potential to benefit retailers , in addition to being something very interesting at certain times, especially in the midst of the pandemic and the situation of social distancing.

However, despite the obvious positive points, if you offer credit in your store, your concern may be: with the arrival of Pix, what will actually change in your credit?

In this post, you will understand more about this. However, first, let's get to know the tool better.

What is Pix and how will it work?
Pix is ​​basically a new tool that allows you to make transfers and pay bills very quickly, without having to wait days for the payment to be received.

It was launched by the Central Bank of Brazil with the aim of reducing the cost of payment and transfer operations. Unlike TEDs and DOCs, the charge is very low, approximately R$0.01 (one cent) per transaction.

Furthermore, operations will not take days, will take place ios database without third-party intermediation, will be done in real time and can take place anywhere and at any time, after all, the tool will work 24 hours a day, 7 days a week.

The only requirement for using Pix is ​​that the payer and the recipient, that is, the person sending and the person receiving the amount, have an account – current or otherwise – in a bank, payment institution or fintech.

Transactions can be made in the usual way, by entering information such as cell phone number, email, CPF or CNPJ. But another option is by reading static and dynamic QR Codes.

Knowing all this, let's get to the point: what changes for retailers who offer credit?

To learn more about this new payment method, you can continue reading or watch the video below:

YouTube video
What changes in your credit account with this new payment method?
One of the great features of this new payment method is the possibility of paying remotely. With Pix, the customer does not need to go to the store to make payments.

This fact, however, is not welcome for those who work with installment credit, since one of the ideas of this modality is precisely to keep customers coming to your store frequently – to pay the installments – and, with that, keep them in contact with the products and news, something that can spark their interest.

For this reason, stores will need other strategies to retain their customers. Over time, they may adjust their plans to continue attracting customers.

Therefore, customers who are unable to go to the store will be able to pay remotely, directly from their homes. Despite all this, it is worth remembering that, even if the customer does not return to the store to make the payment, they still need the credit.

And here, then, is the big tip for store owners: your customer still needs the financing that your store offers them!

Even though Pix is ​​a revolution, the store still has a good chance of retaining customers. Now, they can pay remotely. However, they still need financing and, for this reason, they may continue to be your customer.

To ensure this, however, it is still necessary to invest in new strategies.

Explore new strategies for this new payment method
With the arrival of Pix, stores that offer credit will need to explore other methods to continue retaining customers and, most importantly, to keep them coming back. Eventually, there will be payment QR Codes that can help you with this.