Campos Neto says Pix should become a loan option and could replace card in credit operations

Central Bank President Roberto Campos Neto

president central bank (B.C.E), Roberto Campos NetoIt was announced on Friday the eleventh of this year that the institution is studying the feasibility of providing credit through pix to consumers. In practice, according to the executive, people will have an alternative to credit cards. “You’ll combine Pix with other products, remembering that you’ll be able to start getting credit on Pix so, at some point in the future, you won’t need a credit card, and you’ll be able to do everything on Pix,” he said during the meeting sponsored by the association. Commercial in Paraná Since it has not yet been officially launched, this credit method via Pix does not have detailed information on how it works.

This speech was given one day after the economist told the senators that revolving credit on credit cards should be amortized and replaced. on the outstanding balance in installments at a lower interest rate. Another suggestion is to charge for purchases in long-term installments: “without vertigoUnpaid invoice will go directly to the installment plan. It should be announced in the coming weeks.” We should have taken action earlier to resolve the issue. vertigoHe admitted. The head of the Autonomy also said that a working group has been set up by British Columbia, the Ministry of Finance and banks to present a solution within the next 90 days within the scope of the National Monetary Board (CMN). The credit can be directly converted into (monthly) installments, and the interest rate is around 9% (monthly interest, equivalent to 181% in 12 months),” it declared.

A revolving credit is a type of credit offered to a consumer when they have not fully settled the card bill by the due date. The most common example is paying the so-called minimum invoice amount. The difference between the total amount and what was actually paid becomes a loan. In this way, interest is calculated on the amount owed. Last month, the method default was 49.1%.

Launched in 2022, Pix only started out as an instant payment system, and is being tested with other features, such as payment scheduling and installment payments.